Hiya,
One of our clients has managed to find a flaw with gift cards when you’re using a manual exchange rate but also price adjustments..
Our client’s store has a base currency of GBP - they then have a Europe market which has EUR pricing, a manual exchange rate of 1 but then an adjustment of +35% (See image)
By default, a £100 Gift Card will cost the customer 135 Euros
However..! At checkout this will actually be converted into a 100 Euros Gift Card because the exchange rate is 1 to 1 and the Gift Card does not take the Price Adjustment into consideration.
Edit: or alternatively don’t use the Price adjustment on Gift Card Prices
For the time-being, we’re going to update the Gift Card prices to be 1 to 1 by adding an override.. but it would be good if this behavior could be fixed to take the price adjustment into consideration.
Thanks in advance!
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Hey @ceri_waters, thanks for sharing this. I appreciate helping to ensure other developers are aware of this limitation.
Currently, this would be expected behaviour with gift cards, as documented here
Gift card values and balances are set in the currency of your store, but your customers purchase them and redeem them in their local currency.
If you’re setting specific product prices for different markets, then you shouldn’t set specific prices for your gift cards. Gift card balances are always in the default currency of your store, and setting a specific gift card price might result in you losing money.
Hi @KyleG-Shopify thanks for the response. Mm I’m not sure that matches the documentation here - the Gift Cards don’t actually have Market Specific Prices set (not really).
As you’ll see from the images below I can’t “reset” their prices, we’re just using a manual conversion rate with price adjustments.
I feel like Gift Cards should always be excluded from manual conversion rates and price adjustments? I can’t imagine a scenario where you’d actually want them to be applied?
We can’t even manually do the gift card prices because it would involve knowing when the conversion rate changes
Hey @ceri_waters,
Thanks for the screenshots; that makes it more clear. The issue as I see it now is since you are using a manual exchange rate, they buyer is getting a 10 euro gift card with a 35% increase in the price they pay for it.
Can you test what happens when you exclude the gift cards from that catalog, and put them in their own catalog with no price adjustment?
Hi @KyleG-Shopify, thanks for the response - that’s not an option on this store I don’t think, as we’re not on the new markets as of yet.
I see. The over-ride workaround you mentioned earlier sounds like the best alternative in this case.
Yeah.. I thought that too but there’s a flaw..
If I let the customer purchase the gift card at a 1:1 ratio (GBP to EUR) then they could in fact switch back to a UK Market, and use their gift card for an infinite money loop 
There’s no notification of when the conversion rate changes, so we can’t really use that otherwise we’d get the same problem.
Because of the 1 to 1 the customer gets 100 EUR Gift Card when they buy 100 GBP - BUT they pay 135 Euro due to the manual exchange rate which isn’t taken into consideration for the spend value on the gift card…
So yeah.. 
Yeah, the 1:1 makes it interesting. What if you manually set the rate for the gift card at the same 1:1 value? So if they buy in Euros, they are getting 100 for 100? Then when they purchase products with it, they will have the 1:1 +35%
Can you help me understand this better? Guessing this is the problem with setting the Euro market manually to match?
If I set the gift card price to 1:1, the customer will get the gift card for 100 Euros.
The actual value of the Gift Card though will be £100, on the EU market this is fine because the value is 1:1
But on the UK market this is not the case, the customer will be able to spend £100 but have only actually paid for around £86 because they got the Gift card in euros.
If I manually change the gift card price to match the current exchange rate, the customer won’t be getting the full value back - because they’re getting less euros to spend due to the 1:1 rate.
Thanks. I believe the new markets features should solve this using catalogs as I mentioned above. If your client is on plus, this can be enabled as a test drive.
https://help.shopify.com/en/manual/markets-new/overview
