Euroconvert function

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This article describes the formula syntax and usage of the EUROCONVERT function in Microsoft Excel.

Description

Converts a number to euros, converts a number from euros to a euro member currency, or converts a number from one euro member currency to another by using the euro as an intermediary (triangulation). The currencies available for conversion are those of European Union (EU) members that have adopted the euro. The function uses fixed conversion rates that are established by the EU.

If this function is not available, and returns the #NAME? error, install and load the Euro Currency Tools Add-in.

Install and load the Euro Currency Tools Add-in add-in

1. On the File tab, click Options, and then click Add-Ins.

2. In the Manage list box, select Excel Add-ins, and then click Go.

3. In the Add-Ins Available list, select the Euro Currency Tools box, and then click OK.

4. If necessary, follow the instructions in the setup program.

Syntax

EUROCONVERT(number,source,target,full_precision,triangulation_precision)

The EUROCONVERT function syntax has the following arguments:

• Number     Required. The currency value you want to convert, or a reference to a cell containing the value.

• Source     Required. A three-letter string, or reference to a cell containing the string, corresponding to the ISO code for the source currency. The following currency codes are available in the EUROCONVERT function:

Country/Region	Basic unit of currency	ISO code
Belgium	franc	BEF
Luxembourg	franc	LUF
Germany	deutsche mark	DEM
Spain	peseta	ESP
France	franc	FRF
Ireland	pound	IEP
Italy	lira	ITL
Netherlands	guilder	NLG
Austria	schilling	ATS
Portugal	escudo	PTE
Finland	markka	FIM
Greece	drachma	GRD
Slovenia	tolar	SIT
Euro member states	euro	EUR

• Target     Required. A three-letter string, or cell reference, corresponding to the ISO code of the currency to which you want to convert the number. See the previous Source table for the ISO codes.

• Full_precision     Required. A logical value (TRUE or FALSE), or an expression that evaluates to a value of TRUE or FALSE, that specifies how to display the result.

Use	If you want Excel to
FALSE	Display the result with the currency-specific rounding rules, see the table that follows. Excel uses the calculation precision value to calculate the result and the display precision value to display the result. FALSE is the default if the full_precision argument is omitted.
TRUE	Display the result with all significant digits resulting from the calculation.

• The following table shows the currency specific rounding rules, that is, how many decimal places Excel uses to calculate a currency's conversion and display the result.

ISO code	Calculation precision	Display precision
BEF	0	0
LUF	0	0
DEM	2	2
ESP	0	0
FRF	2	2
IEP	2	2
ITL	0	0
NLG	2	2
ATS	2	2
PTE	0	2
FIM	2	2
GRD	0	2
SIT	2	2
EUR	2	2

• Triangulation_precision     Required. An integer equal to or greater than 3 that specifies the number of significant digits to be used for the intermediate euro value when converting between two euro member currencies. If you omit this argument, Excel does not round the intermediate euro value. If you include this argument when converting from a euro member currency to the euro, Excel calculates the intermediate euro value that could then be converted to a euro member currency.

Remarks

• Excel truncates any trailing zeros in the return value.

• If the source ISO code is the same as the target ISO code, Excel returns the original value of the number.

• Invalid parameters return #VALUE.

• This function does not apply a number format.

• This function cannot be used in array formulas.

Example

Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. For formulas to show results, select them, press F2, and then press Enter. If you need to, you can adjust the column widths to see all the data.

Amount	Source	Target
1.20	DEM	EUR
1.00	FRF	EUR
1.00	FRF	EUR
1.00	FRF	DEM
1.00	FRF	DEM
Formula	Description (Result)
=EUROCONVERT(A2,B2,C2)	Converts 1.2 deutsche marks to the equivalent in euros by using a calculation and display precision of 2 decimal places (0.61)	0.61
=EUROCONVERT(A3,B3,C3,TRUE,3)	Converts 1 franc to the equivalent in euros by using a calculation and display precision of 3 decimal places (0.152)	0.152
=EUROCONVERT(A4,B4,C4,FALSE,3)	Converts 1 franc to the equivalent in euros by using a calculation and display precision of 2 decimal places (0.15)	0.15
=EUROCONVERT(A5,B5,C5,TRUE,3)	Converts 1 franc to the equivalent in deutsche marks by using an intermediate calculation precision of 3 and displaying all significant digits (0.29728616)	0.29728616
Note
In order to use the EUROCONVERT function, you first need to activate the Euro Currency Tools add-in. To learn how to add and activate Excel add-ins, see the link below:
Add or remove add-ins

Notes: 

• These examples assume conversion rates of 1 euro = 6.55957 French francs and 1.95583 deutsche marks. The EUROCONVERT function uses the current rates established by the EU. Microsoft will update the function if the rates change. To get full information about the rules and the rates currently in effect, see the European Commission publications about the euro.

• The examples show the resulting value stored in the cell, not the formatted value.

• In the sample spreadsheet, trailing zeroes are truncated.