# Dual currency

> Dual currency is viewing the same financial statements in each entity's local currency and in the group's currency, without recalculating or duplicating.

Updated: 2026-09-03 · Author: Santiago Viglione (Fibady) · https://www.fibady.com/en/glossary/dual-currency

Dual currency is the ability to view the same financial statements in each entity's local currency and in the group's currency at the same time, without recalculating or keeping two versions.

## What it includes

Each entry keeps its amount in local currency and carries the amount translated at the period's consolidation exchange rate. That way the P&L, balance sheet and cash flow can be shown in either currency, and translation differences are identified instead of mixed into the result.

## Example with numbers

Subsidiary in Mexico: March revenue 2,000,000 MXN, average rate 0.050: 100,000 EUR. In April it invoices 2,100,000 MXN (+5% in local currency), but the rate falls to 0.046: 96,600 EUR (−3.4% in euros). Without dual currency, the group would see a decline; with it, it sees that the subsidiary grew and the peso fell.

## How Fibady does it

Each entity has its functional currency and its exchange rate per period, and the group chooses its own. The consolidation switches between local and group currency with one click, in the P&L, balance sheet and cash flow, and every translated figure opens down to the original amount in the entry.

## Frequently asked questions

### Is dual currency the same as multi-currency?

Not quite. Multi-currency is booking transactions in different currencies within one entity; dual currency is reporting every complete financial statement in two currencies at once.

### How often is the rate updated?

Monthly with the close. The rate is set per entity and period, and the history is kept so closed months do not change.

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