diff --git a/packages/shared/lib/wallet.ts b/packages/shared/lib/wallet.ts
index 90d57f0f8e7..b84f6a1cada 100644
--- a/packages/shared/lib/wallet.ts
+++ b/packages/shared/lib/wallet.ts
@@ -424,6 +424,26 @@ export const updateBalanceOverview = (balance: number, incoming: number, outgoin
     });
 };
 
+/**
+ * Updates balance overview fiat value
+ *
+ * @method updateBalanceOverviewFiat
+ *
+ * @returns {void}
+ */
+export const updateBalanceOverviewFiat = (): void => {
+    const { balanceOverview } = get(wallet);
+    balanceOverview.update((overview) => {
+        return Object.assign<BalanceOverview, BalanceOverview, Partial<BalanceOverview>>({} as BalanceOverview, overview, {
+            balanceFiat: `${convertToFiat(
+                overview.balanceRaw,
+                get(currencies)[CurrencyTypes.USD],
+                get(exchangeRates)[get(activeProfile).settings.currency]
+            )} ${get(activeProfile).settings.currency}`,
+        });
+    });
+}
+
 /**
 * Updates accounts information after a successful sync accounts operation
 *
@@ -468,6 +488,28 @@ function mergeProps<T>(existingPayload: T[], newPayload: T[], prop: string): T[]
     return Object.values(Object.assign({}, existingPayloadMap, newPayloadMap))
 }
 
+/**
+ * Updates balance fiat value for every account
+ *
+ * @method updateAccountBalanceEquiv
+ *
+ * @returns {void}
+ */
+export const updateAccountsBalanceEquiv = (): void => {
+    const { accounts } = get(wallet)
+    accounts.update((storedAccounts) => {
+        return storedAccounts.map((storedAccount) => {
+            return Object.assign<WalletAccount, WalletAccount, Partial<WalletAccount>>({} as WalletAccount, storedAccount, {
+                balanceEquiv: `${convertToFiat(
+                    storedAccount.rawIotaBalance,
+                    get(currencies)[CurrencyTypes.USD],
+                    get(exchangeRates)[get(activeProfile).settings.currency]
+                )} ${get(activeProfile).settings.currency}`,
+            })
+        })
+    })
+}
+
 /**
  * Gets balance history for each account in market data timestamps
  *
diff --git a/packages/shared/routes/dashboard/settings/views/General.svelte b/packages/shared/routes/dashboard/settings/views/General.svelte
index 62698acb6ae..7a842388332 100644
--- a/packages/shared/routes/dashboard/settings/views/General.svelte
+++ b/packages/shared/routes/dashboard/settings/views/General.svelte
@@ -3,6 +3,7 @@
     import { darkMode } from 'shared/lib/app'
     import { Text, Radio, Dropdown, Checkbox } from 'shared/components'
     import { exchangeRates } from 'shared/lib/currency'
+    import { updateAccountsBalanceEquiv, updateBalanceOverviewFiat } from 'shared/lib/wallet'
     import { addProfileCurrencyPriceData } from 'shared/lib/marketData'
     import { locales, setupI18n } from 'shared/lib/i18n'
     import { activeProfile, updateProfile } from 'shared/lib/profile'
@@ -24,6 +25,8 @@
     const handleCurrencySelect = (item) => {
         updateProfile('settings.currency', item.value)
         addProfileCurrencyPriceData()
+        updateBalanceOverviewFiat()
+        updateAccountsBalanceEquiv()
     }
 </script>