diff --git a/app/Models/Expense.php b/app/Models/Expense.php
index d5ad0e0405..5348ee530f 100644
--- a/app/Models/Expense.php
+++ b/app/Models/Expense.php
@@ -142,7 +142,7 @@ class Expense extends EntityModel
      */
     public function isExchanged()
     {
-        return $this->invoice_currency_id != $this->expense_currency_id;
+        return $this->invoice_currency_id != $this->expense_currency_id || $this->exchange_rate != 1;
     }
 
     /**
diff --git a/resources/views/expenses/edit.blade.php b/resources/views/expenses/edit.blade.php
index a555ed4c09..8629de91b2 100644
--- a/resources/views/expenses/edit.blade.php
+++ b/resources/views/expenses/edit.blade.php
@@ -353,7 +353,7 @@
             self.amount = ko.observable();
             self.exchange_rate = ko.observable(1);
             self.should_be_invoiced = ko.observable();
-            self.convert_currency = ko.observable(false);
+            self.convert_currency = ko.observable({{ ($expense && $expense->isExchanged()) ? 'true' : 'false' }});
             self.apply_taxes = ko.observable({{ ($expense && ($expense->tax_name1 || $expense->tax_name2)) ? 'true' : 'false' }});
 
             self.mapping = {