Merge pull request #47898 from aerele/pegged-currency

Pegged currency

erpnext/accounts/doctype/accounts_settings/accounts_settings.json

@@ -46,6 +46,7 @@
   "role_to_override_stop_action",
   "currency_exchange_section",
   "allow_stale",
+  "allow_pegged_currencies_exchange_rates",
   "column_break_yuug",
   "stale_days",
   "section_break_jpd0",
@@ -614,6 +615,13 @@
   {
    "fieldname": "column_break_feyo",
    "fieldtype": "Column Break"
+  },
+  {
+   "default": "0",
+   "description": "Enable this field to fetch the exchange rates for Pegged Currencies.\n\n",
+   "fieldname": "allow_pegged_currencies_exchange_rates",
+   "fieldtype": "Check",
+   "label": "Allow Pegged Currencies Exchange Rates"
   }
  ],
  "grid_page_length": 50,
@@ -622,7 +630,7 @@
  "index_web_pages_for_search": 1,
  "issingle": 1,
  "links": [],
- "modified": "2025-06-06 11:03:28.095723",
+ "modified": "2025-06-16 16:40:54.871486",
  "modified_by": "Administrator",
  "module": "Accounts",
  "name": "Accounts Settings",

erpnext/accounts/doctype/accounts_settings/accounts_settings.py

@@ -26,6 +26,7 @@ class AccountsSettings(Document):
 		acc_frozen_upto: DF.Date | None
 		add_taxes_from_item_tax_template: DF.Check
 		allow_multi_currency_invoices_against_single_party_account: DF.Check
+		allow_pegged_currencies_exchange_rates: DF.Check
 		allow_stale: DF.Check
 		auto_reconcile_payments: DF.Check
 		auto_reconciliation_job_trigger: DF.Int

erpnext/accounts/doctype/pegged_currencies/pegged_currencies.js

@@ -0,0 +1,8 @@
+// Copyright (c) 2025, Frappe Technologies Pvt. Ltd. and contributors
+// For license information, please see license.txt
+
+// frappe.ui.form.on("Pegged Currencies", {
+// 	refresh(frm) {
+
+// 	},
+// });

erpnext/accounts/doctype/pegged_currencies/pegged_currencies.json

@@ -0,0 +1,47 @@
+{
+ "actions": [],
+ "allow_rename": 1,
+ "creation": "2025-05-30 11:47:03.670913",
+ "doctype": "DocType",
+ "engine": "InnoDB",
+ "field_order": [
+  "pegged_currencies_item_section",
+  "pegged_currency_item"
+ ],
+ "fields": [
+  {
+   "fieldname": "pegged_currencies_item_section",
+   "fieldtype": "Section Break"
+  },
+  {
+   "fieldname": "pegged_currency_item",
+   "fieldtype": "Table",
+   "options": "Pegged Currency Details"
+  }
+ ],
+ "grid_page_length": 50,
+ "index_web_pages_for_search": 1,
+ "issingle": 1,
+ "links": [],
+ "modified": "2025-06-02 11:46:31.936714",
+ "modified_by": "Administrator",
+ "module": "Accounts",
+ "name": "Pegged Currencies",
+ "owner": "Administrator",
+ "permissions": [
+  {
+   "create": 1,
+   "delete": 1,
+   "email": 1,
+   "print": 1,
+   "read": 1,
+   "role": "System Manager",
+   "share": 1,
+   "write": 1
+  }
+ ],
+ "row_format": "Dynamic",
+ "sort_field": "creation",
+ "sort_order": "DESC",
+ "states": []
+}

erpnext/accounts/doctype/pegged_currencies/pegged_currencies.py

@@ -0,0 +1,22 @@
+# Copyright (c) 2025, Frappe Technologies Pvt. Ltd. and contributors
+# For license information, please see license.txt
+
+# import frappe
+from frappe.model.document import Document
+
+
+class PeggedCurrencies(Document):
+	# begin: auto-generated types
+	# This code is auto-generated. Do not modify anything in this block.
+
+	from typing import TYPE_CHECKING
+
+	if TYPE_CHECKING:
+		from frappe.types import DF
+
+		from erpnext.accounts.doctype.pegged_currencies.pegged_currencies import PeggedCurrencies
+
+		pegged_currency_item: DF.Table[PeggedCurrencies]
+	# end: auto-generated types
+
+	pass

erpnext/accounts/doctype/pegged_currencies/test_pegged_currencies.py

@@ -0,0 +1,29 @@
+# Copyright (c) 2025, Frappe Technologies Pvt. Ltd. and Contributors
+# See license.txt
+
+# import frappe
+from frappe.tests import IntegrationTestCase, UnitTestCase
+
+# On IntegrationTestCase, the doctype test records and all
+# link-field test record dependencies are recursively loaded
+# Use these module variables to add/remove to/from that list
+EXTRA_TEST_RECORD_DEPENDENCIES = []  # eg. ["User"]
+IGNORE_TEST_RECORD_DEPENDENCIES = []  # eg. ["User"]
+
+
+class UnitTestPeggedCurrencies(UnitTestCase):
+	"""
+	Unit tests for PeggedCurrencies.
+	Use this class for testing individual functions and methods.
+	"""
+
+	pass
+
+
+class IntegrationTestPeggedCurrencies(IntegrationTestCase):
+	"""
+	Integration tests for PeggedCurrencies.
+	Use this class for testing interactions between multiple components.
+	"""
+
+	pass

erpnext/accounts/doctype/pegged_currency_details/pegged_currency_details.json

@@ -0,0 +1,49 @@
+{
+ "actions": [],
+ "allow_rename": 1,
+ "creation": "2025-05-30 11:59:28.219277",
+ "doctype": "DocType",
+ "editable_grid": 1,
+ "engine": "InnoDB",
+ "field_order": [
+  "source_currency",
+  "pegged_against",
+  "pegged_exchange_rate"
+ ],
+ "fields": [
+  {
+   "fieldname": "source_currency",
+   "fieldtype": "Link",
+   "in_list_view": 1,
+   "label": "Currency",
+   "options": "Currency"
+  },
+  {
+   "fieldname": "pegged_exchange_rate",
+   "fieldtype": "Data",
+   "in_list_view": 1,
+   "label": "Exchange Rate"
+  },
+  {
+   "fieldname": "pegged_against",
+   "fieldtype": "Link",
+   "in_list_view": 1,
+   "label": "Pegged Against",
+   "options": "Currency"
+  }
+ ],
+ "grid_page_length": 50,
+ "index_web_pages_for_search": 1,
+ "istable": 1,
+ "links": [],
+ "modified": "2025-06-17 14:11:16.521193",
+ "modified_by": "Administrator",
+ "module": "Accounts",
+ "name": "Pegged Currency Details",
+ "owner": "Administrator",
+ "permissions": [],
+ "row_format": "Dynamic",
+ "sort_field": "creation",
+ "sort_order": "DESC",
+ "states": []
+}

erpnext/accounts/doctype/pegged_currency_details/pegged_currency_details.py

@@ -0,0 +1,25 @@
+# Copyright (c) 2025, Frappe Technologies Pvt. Ltd. and contributors
+# For license information, please see license.txt
+
+# import frappe
+from frappe.model.document import Document
+
+
+class PeggedCurrencyDetails(Document):
+	# begin: auto-generated types
+	# This code is auto-generated. Do not modify anything in this block.
+
+	from typing import TYPE_CHECKING
+
+	if TYPE_CHECKING:
+		from frappe.types import DF
+
+		parent: DF.Data
+		parentfield: DF.Data
+		parenttype: DF.Data
+		pegged_against: DF.Link | None
+		pegged_exchange_rate: DF.Data | None
+		source_currency: DF.Link | None
+	# end: auto-generated types
+
+	pass

erpnext/patches.txt

@@ -421,3 +421,4 @@ erpnext.patches.v14_0.update_full_name_in_contract
 erpnext.patches.v15_0.drop_sle_indexes
 execute:frappe.db.set_single_value("Accounts Settings", "confirm_before_resetting_posting_date", 1)
 erpnext.patches.v15_0.rename_pos_closing_entry_fields #2025-06-13
+erpnext.patches.v15_0.update_pegged_currencies

erpnext/patches/v15_0/update_pegged_currencies.py

@@ -0,0 +1,7 @@
+import frappe
+
+from erpnext.setup.install import update_pegged_currencies
+
+
+def execute():
+	update_pegged_currencies()

erpnext/selling/doctype/quotation/test_quotation.py

@@ -6,6 +6,7 @@ from frappe.tests import IntegrationTestCase, change_settings
 from frappe.utils import add_days, add_months, flt, getdate, nowdate
 
 from erpnext.controllers.accounts_controller import InvalidQtyError
+from erpnext.setup.utils import get_exchange_rate
 
 EXTRA_TEST_RECORD_DEPENDENCIES = ["Product Bundle"]
 
@@ -863,6 +864,24 @@ class TestQuotation(IntegrationTestCase):
 		quotation.reload()
 		self.assertEqual(quotation.status, "Ordered")
 
+	@change_settings("Accounts Settings", {"allow_pegged_currencies_exchange_rates": True})
+	def test_make_quotation_qar_to_inr(self):
+		quotation = make_quotation(
+			currency="QAR",
+			transaction_date="2026-06-04",
+		)
+
+		cache = frappe.cache()
+		key = "currency_exchange_rate_{}:{}:{}".format("2026-06-04", "QAR", "INR")
+		value = cache.get(key)
+		expected_rate = flt(value) / 3.64
+
+		self.assertEqual(
+			quotation.conversion_rate,
+			expected_rate,
+			f"Expected conversion rate {expected_rate}, got {quotation.conversion_rate}",
+		)
+
 
 def enable_calculate_bundle_price(enable=1):
 	selling_settings = frappe.get_doc("Selling Settings")

erpnext/setup/install.py

@@ -32,6 +32,7 @@ def after_install():
 	add_app_name()
 	update_roles()
 	make_default_operations()
+	update_pegged_currencies()
 	frappe.db.commit()
 
 
@@ -223,6 +224,27 @@ def create_default_role_profiles():
 		role_profile.insert(ignore_permissions=True)
 
 
+def update_pegged_currencies():
+	doc = frappe.get_doc("Pegged Currencies", "Pegged Currencies")
+
+	existing_sources = {item.source_currency for item in doc.pegged_currency_item}
+
+	currencies_to_add = [
+		{"source_currency": "AED", "pegged_against": "USD", "pegged_exchange_rate": 3.6725},
+		{"source_currency": "BHD", "pegged_against": "USD", "pegged_exchange_rate": 0.376},
+		{"source_currency": "JOD", "pegged_against": "USD", "pegged_exchange_rate": 0.709},
+		{"source_currency": "OMR", "pegged_against": "USD", "pegged_exchange_rate": 0.3845},
+		{"source_currency": "QAR", "pegged_against": "USD", "pegged_exchange_rate": 3.64},
+		{"source_currency": "SAR", "pegged_against": "USD", "pegged_exchange_rate": 3.75},
+	]
+
+	for currency in currencies_to_add:
+		if currency["source_currency"] not in existing_sources:
+			doc.append("pegged_currency_item", currency)
+
+	doc.save()
+
+
 DEFAULT_ROLE_PROFILES = {
 	"Inventory": [
 		"Stock User",

erpnext/setup/utils.py

@@ -9,10 +9,6 @@ from frappe.utils.nestedset import get_root_of
 
 from erpnext import get_default_company
 
-PEGGED_CURRENCIES = {
-	"USD": {"AED": 3.6725},  # AED is pegged to USD at a rate of 3.6725 since 1997
-}
-
 
 def before_tests():
 	frappe.clear_cache()
@@ -47,11 +43,51 @@ def before_tests():
 	frappe.db.commit()
 
 
-def get_pegged_rate(from_currency: str, to_currency: str, transaction_date) -> float | None:
-	if rate := PEGGED_CURRENCIES.get(from_currency, {}).get(to_currency):
-		return rate
-	elif rate := PEGGED_CURRENCIES.get(to_currency, {}).get(from_currency):
-		return 1 / rate
+def get_pegged_currencies():
+	pegged_currencies = frappe.get_all(
+		"Pegged Currency Details",
+		filters={"parent": "Pegged Currencies"},
+		fields=["source_currency", "pegged_against", "pegged_exchange_rate"],
+	)
+
+	pegged_map = {
+		currency.source_currency: {
+			"pegged_against": currency.pegged_against,
+			"ratio": flt(currency.pegged_exchange_rate),
+		}
+		for currency in pegged_currencies
+	}
+	return pegged_map
+
+
+def get_pegged_rate(pegged_map, from_currency, to_currency, transaction_date=None):
+	from_entry = pegged_map.get(from_currency)
+	to_entry = pegged_map.get(to_currency)
+
+	if from_currency in pegged_map and to_currency in pegged_map:
+		# Case 1: Both are present and pegged to same bases
+		if from_entry["pegged_against"] == to_entry["pegged_against"]:
+			return (1 / from_entry["ratio"]) * to_entry["ratio"]
+
+		# Case 2: Both are present but pegged to different bases
+		base_from = from_entry["pegged_against"]
+		base_to = to_entry["pegged_against"]
+		base_rate = get_exchange_rate(base_from, base_to, transaction_date)
+
+		if not base_rate:
+			return None
+
+		return (1 / from_entry["ratio"]) * base_rate * to_entry["ratio"]
+
+	# Case 3: from_currency is pegged to to_currency
+	if from_entry and from_entry["pegged_against"] == to_currency:
+		return flt(from_entry["ratio"])
+
+	# Case 4: to_currency is pegged to from_currency
+	if to_entry and to_entry["pegged_against"] == from_currency:
+		return 1 / flt(to_entry["ratio"])
+
+	""" If only one entry exists but doesn’t match pegged currency logic, return None """
 	return None
 
 
@@ -95,8 +131,12 @@ def get_exchange_rate(from_currency, to_currency, transaction_date=None, args=No
 	if frappe.get_cached_value("Currency Exchange Settings", "Currency Exchange Settings", "disabled"):
 		return 0.00
 
-	if rate := get_pegged_rate(from_currency, to_currency, transaction_date):
-		return rate
+	pegged_currencies = {}
+
+	if currency_settings.allow_pegged_currencies_exchange_rates:
+		pegged_currencies = get_pegged_currencies()
+		if rate := get_pegged_rate(pegged_currencies, from_currency, to_currency, transaction_date):
+			return rate
 
 	try:
 		cache = frappe.cache()
@@ -109,8 +149,12 @@ def get_exchange_rate(from_currency, to_currency, transaction_date=None, args=No
 			settings = frappe.get_cached_doc("Currency Exchange Settings")
 			req_params = {
 				"transaction_date": transaction_date,
-				"from_currency": from_currency if from_currency != "AED" else "USD",
-				"to_currency": to_currency if to_currency != "AED" else "USD",
+				"from_currency": from_currency
+				if from_currency not in pegged_currencies
+				else pegged_currencies[from_currency]["pegged_against"],
+				"to_currency": to_currency
+				if to_currency not in pegged_currencies
+				else pegged_currencies[to_currency]["pegged_against"],
 			}
 			params = {}
 			for row in settings.req_params:
@@ -123,12 +167,13 @@ def get_exchange_rate(from_currency, to_currency, transaction_date=None, args=No
 				value = value[format_ces_api(str(res_key.key), req_params)]
 			cache.setex(name=key, time=21600, value=flt(value))
 
-		# Support AED conversion through pegged USD
+		# Support multiple pegged currencies
 		value = flt(value)
-		if to_currency == "AED":
-			value *= 3.6725
-		if from_currency == "AED":
-			value /= 3.6725
+
+		if currency_settings.allow_pegged_currencies_exchange_rates and to_currency in pegged_currencies:
+			value *= flt(pegged_currencies[to_currency]["ratio"])
+		if currency_settings.allow_pegged_currencies_exchange_rates and from_currency in pegged_currencies:
+			value /= flt(pegged_currencies[from_currency]["ratio"])
 
 		return flt(value)
 	except Exception: