I wanted to suggest exactly the same:
For FX expenses users can only edit the FX rate, but it is not possible to change the amount in the policy currency (see attached screenshot). For users it would be very convenient if they can just keep the local amount, and then edit the amount in the policy currency to match their credit card statement, and the applied FX rate would be adjusted accordingly. A nice extra feature for approvers would then be that a deviation of more than x% (eg 4%) from the auto FX rate is marked with a warning (much like it is implemented in Expensify).

I voted up this feature request, I hope Zoho follows up soon.

Couldnt agree more... this should definitely be a feature!

There are several request all alluding to the same thing. I agree that exchange rates should be re-calculated. After all I have to repay my credit card the amount on the statement not a calculated amount based on a notional exchange rate. I use the credit card match facility and can match a credit card expense directly to an expense even if the amounts do not exactly agree (this is allowed only if the 'Permit users to edit the amount in personal card expenses' flag is set). However, even though the expense has been matched, the amount kept in the report is the 'calculated' expense amount not the credit card expense amount. This would work perfectly when, if selecting a match, the expense amount was set to the same by automatically re-calculating the exchange rate.

This is an absolute must for the new version.

This is something which should be so simple, Rather than having to work out the exchange rate when i spend in Euro and then claim back in Pounds, i just want to be able to add the claim back amount and have the rate worked out. Much easier