Ash here from the Shopify team. Welcome to the Shopify Community!
Once a shop makes its first sale, the currency selector becomes locked for a number of reasons. We can remove this lock, but it's important you understand why it's applied in the first place. The main impacts on your store when changing selling currency are:
- Reporting: With flip flopping between currencies, our reporting doesn't factor in the difference between currencies. So if you had $500 USD processed, that would show as $500 in reports. Say next day you switch to CAD, the report would still read as $500 for previous processing. Since $1 CAD is not equal to $1 USD, the reports in theory will be wrong going forward. A common workaround for this is setting a custom date range when looking at reports after switching selling currencies.
- Product Pricing: Since the dollar amount between currencies is not the same, a product price’s value, could mean something different if currency is adjusted and impact margins. Ex - $20 CAD, is not equal to $20 USD. Refunds processed after a currency change will also be affected by the currency change. A common workaround is adjusting your products pricing to reflect what you want to charge customers after changing selling currency.
- Apps: Some apps may have limitations when it comes to changing selling currency. If you're concerned about how changing selling currency will affect the apps you use, I suggest reaching out to the App developer(s) to clarify before changing the selling currency.
- Gift Cards: Gift cards with remaining balances in the old selling currency will not work once the selling currency of the store has been changed. A common workaround for this is cancelling and re-issuing outstanding gift cards in the new currency.
- Shipping: Any shipping rates for a store will maintain the previous currency and will not update automatically. After a currency change, you will need to delete the previous rates and add them back in manually to list them in the new currency.
After familiarizing yourself with these impacts, let me know if you'd like to proceed and we can take the next steps!