Which currency is debited?


#1

If I have equal amounts of € and NOK in my account and make a transaction in ISK in Iceland, which currency is debited?


#2

What’s your base currency? Then this first.


#3

See this:


#4

It’s still an interesting theoretical question. What if the base curreny wallet is empty, and two other currencies hold the exact same numbers.

Like this:
1000 EUR and 1000 NOK

Or, relative to the base currency, GBP for example:
1142,74 EUR and 10991,29 NOK

?


#5

Of course this is relative to base currency :slight_smile:
I believe that probability of such case (amount of money in two wallets is exactly the same) is negligibly small. Remember that exchange ratio doesn’t end on second position after the comma :wink:


#6

Sure, that’s why I called it a “theoretical” question. It’s not something I worry about.


#7

Thanks both :smile:. My base currency is GBP but the EUR and NOK were bought in the past at a good rate and I would rather use them. If I don’t hold enough GBP for a transaction it seems the answer is that the ISK is paid from whichever of the other two contains the higher relative amount at the time of the transaction