Here at BillMonk labs, we’ve been coding up storm as we add support for all currencies. The core pieces are in place and working, what remains is polish and a rigorous battery of tests.
Here’s an example screen. Vincent is logged in and looking at his friends. Vincent’s native currency is the euro. His girlfriend Amelie and he both live in France, so they both deal in euros. Vincent travels a lot, so Hendrik in Germany owes him euros, and Vincent owes rupees to Rahul in India. When Vincent, Amelie, and their friend visted London to see their friend Peter, Vincent winds up owing Peter many pounds; he also owes Marie a few pounds while at the same time she owes him a few euros. See how easily BillMonk can make sense of all that?
Here are the most important points:
- You pick your native currency. You can change this whenever you like.
- If you only ever deal in one currency, you only see one currency – the site will look pretty much like it does today, only with your currency symbol.
- We tailor your view to your native currency, showing the three letter currency code for all other currencies.
- You can create bills and IOUs in any currency (default is your native currency). We extend the cell phone interface to allow you to specify currencies other than your default by three-letter code, e.g. “I owe joe GBP15”).
- Each currency is kept in a separate bucket. For example, Vincent owes Marie 22 pounds while she owes him 11.67 euros. We will help you with currency conversions, but don’t force them upon you. This avoids a lot of disagreements over exchange rates. (The very first release won’t offer very advanced exchange rate support, that will come in a forthcoming second release).
We expect to go live with this change quite soon.
It’s pretty easy for us to add currencies. We don’t want to start with all the currencies in the world because the list would get pretty long. So please, just tell us that you’d like us to include your currency, and we will!