This Video best explains how the SWITCH Function works MAXIFS/MINIFS This is also available with Office365 and much easier to write than IFS This is a simplified Nested IF since you do not need to retype IF function with every logical test–all you need is to type is the logical test and its value if True. With office365 subscription, you get 3 More functions that easily replace nested. Since only one cell in our range will meet our criterion, SUMIF returns the coinciding rate. Range–Currencies to be evaluated using our criterionĬriterion–the currency on our price list that determines the exchange rate to be returned SUMIF function returns a sum of all numbers in a range of cells that meet a certain criterion. This is another simple alternative but works ONLY with numeric values. NB: This method also ONLY works with numeric values.
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Since only 1 test will evaluate to TRUE, if you multiply them with corresponding rates and add them up, the result will be zeros plus the correct rate =0+0+0 This results to TRUE/FALSE which Excel recognizes as 1/0. The method exploits the fact that internally, Excel recognizes the value of TRUE as 1 and the value of FALSE as 0.įirstly, Compare the currency in the price list table with the currency in the exchange rate. NB: This method ONLY works with numeric values. Where the test evaluates to FALSE, REPT functions returns an empty string (” “) =""&""&"" This is a fact that REPT utilizes to determine the number of times to repeat.Īlso, note that in our function above ONLY 1 test will evaluate TRUE, others return FALSE. Internally, Excel recognizes the value of TRUE as 1 and the value of FALSE as 0. If the specified number is zero, REPT returns an empty string. REPT Function returns a specific text string a specified number of times. MATCH function above provides this position. MATCH function searches for the currency in the exchange rate table and returns its relative position.ĬHOOSE function returns the exchange rate based on its position in the list. IF the criterion is omitted, VLOOKUP, by default, does an approximate search giving wrong results.
Note: You MUST specify the match criteria for VLOOKUP to exactly retrieve correct rates. VLOOKUP uses the exact match criteria to retrieve the exchange rates in Column 2 of the exchange rate table ($F$2:$G$8). This is not only hard to understand but will definitely slow down your worksheet.īelow VLOOKUP Function is the 1st Alternative.
The first step would be to look up the exchange rate per currency. Say you have below price list with mixed currency and you want to convert them to USD You don’t need to slow or complicate your worksheet anymore, here are the 7 faster alternatives: However, it is also one of the most misused functions, especially Nested IF.Įspecially now with Excel 2007 and beyond, you can nest up to 64 IF functions to form complex, slow and hard-to-understand IF THEN ELSE statement. In my opinion, it is the foundation of all programming and Excel formulae mastery. IF function is one of the most used functions in Excel.
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