No, the base currency is what the system assumes your rates to be in.
e.g. If when you had the system set to USD, and you have a rate of 0.10, it will assume 10 cents USD, if you then change the currency, it will assume you mean 10 cents AUS.
The currency conversion is used when you have a customer who is being charged in another currency - e.g. Euro, and the conversion is made from the base currency to the customer's currency when a call is made, at the rate of the day, provided that you have the currency cronjob working.
Joe
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