This means that every LSP can decide in which currencies to offer services and in which currencies freelancers should be paid. It is possible for these to be different currencies. OTM enables the use of any of the 34 convertible currencies currently listed by the European Central Bank (see the following table).
Currencies usable in OTM (status November 2009) | |||
EUR | EURO | RUB | Russian rouble |
USD | US dollar | TRY | Turkish lira |
JPY | Japanese yen | AUD | Australian dollar |
BGN | Bulgarian lev | BRL | Brasilian real |
CZK | Czech koruna | CAD | Canadian dollar |
DKK | Danish krone | CNY | Chinese yuan renminbi |
EEK | Estonian kroon | HKD | Hong Kong dollar |
GBP | Pound sterling | IDR | Indonesian rupiah |
HUF | Hungarian forint | INR | Indian rupee |
LTL | Lithuanian litas | KRW | South Korean won |
LVL | Latvian lats | MXN | Mexican peso |
PLN | Polish zloty | MYR | Malaysian ringgit |
RON | New Romanian leu | NZD | New Zealand dollar |
SEK | Swedish krona | PHP | Philippine peso |
CHF | Swiss franc | SGD | Singapore dollar |
NOK | Norwegian krone | THB | Thai baht |
HRK | Croatian kuna | ZAR | South African rand |
Within a project, quotes and invoices for customers as well as payments for freelancers can be calculated in one or more currencies. The currencies are converted using the latest daily rates. This ensures that project managers always have a clear overview of the price and costs of each project.
Example: A Brazilian agency works for an US customer and generates its quote and invoice in US dollars, but prefers to pay its local freelancer in Brazilian real.