---
title: Set up or update preferred currency options
description: Set up or update the preferred currency options for your cloud cost and usage data to gain reporting flexibility. These currency options become available for Cloud Cost Management users to choose from.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-asset-management/cloud-cost-management/setup-update-currency.html
release: australia
product: Cloud Cost Management
classification: cloud-cost-management
topic_type: task
last_updated: "2026-03-12"
reading_time_minutes: 1
breadcrumb: [Use, Cloud Cost Management, IT Asset Management, Asset Management]
---

# Set up or update preferred currency options

Set up or update the preferred currency options for your cloud cost and usage data to gain reporting flexibility. These currency options become available for Cloud Cost Management users to choose from.

## Before you begin

Role required: insights\_admin

## About this task

Setting up currency options enables Cloud Cost Management users to choose from the list of available currencies. Costs are calculated using the exchange rates specified by cloud service providers. These exchange rates are automatically applied to ensure cost reporting accuracy across regions.

**Note:** If you haven't set up the preferred currency options earlier, all the billing and usage data is displayed in the default currency.

## Procedure

1.  Navigate to **Workspaces** > **Cloud Cost Management Workspace** > **Operations** > **Administration** > **Multi-currency setup**.

2.  Select a currency code from the **Currency Option 1** drop-down list

    \[Omitted image "multicurrency-setup.png"\] Alt text: Multi-currency setup in the Cloud Cost Management Workspace

3.  Select the **Active** check box for **Currency Option 1** to activate the currency.

    The **Status** field is currently set to **Not mapped**.

4.  Select **Save**.

    The **Status** field changes to **Awaiting processing**. After the processing starts, the **Status** field changes to **In progress** and a message is displayed on the screen that shows the progress in percent. The **Save** button remains unavailable until the status changes to **Ready**.

5.  Repeat step 2, 3, and 4 to select additional currency options and activate them.

    At any given time, you can see a total of five active currencies that includes one reference currency plus four additional currencies.


## Result

After the **Status** field changes to Ready, the selected currencies become available for selection in the **Currency preference** list on the Operations view.

-   **[Choose preferred currency for cost and usage data](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-asset-management/cloud-cost-management/choose-pref-currency.md)**  
Choose your preferred currency from the available options that will be shown for all the billing and usage data. The currency that you choose becomes the display currency on all the dashboard widgets, recommendations \(rightsizing, business hours, unused resources, commitments\), budgets, and billing data.

**Parent Topic:**[Using Cloud Cost Management](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-asset-management/cloud-cost-management/using-cloud-insights.md)