diff --git a/modules/Settings/LayoutEditor/models/Field.php b/modules/Settings/LayoutEditor/models/Field.php
index f6b099546dab12bd703e3708be59158869d75273..f0ef76255d3ce30dd4d20d424a4cdbe495281296 100644
--- a/modules/Settings/LayoutEditor/models/Field.php
+++ b/modules/Settings/LayoutEditor/models/Field.php
@@ -439,7 +439,8 @@ class Settings_LayoutEditor_Field_Model extends Vtiger_Field_Model {
 
 		if ($defaultValue) {
 			if ($this->getFieldDataType() == 'currency') {
-				$defaultValue = $this->getCurrencyDisplayValue($defaultValue, true);
+				//The argument for $skipformatting parameter is passed false to get value with user preference.
+				$defaultValue = $this->getCurrencyDisplayValue($defaultValue, false);
 			} else {
 				$defaultValue = $this->getDisplayValue($defaultValue);
 			}
diff --git a/modules/Settings/LayoutEditor/models/Module.php b/modules/Settings/LayoutEditor/models/Module.php
index 8de5303bbf8a00f908e5b97a49894be59d80879f..58e68b9ed1f6afb0eddbb394533903d61466660d 100644
--- a/modules/Settings/LayoutEditor/models/Module.php
+++ b/modules/Settings/LayoutEditor/models/Module.php
@@ -183,7 +183,8 @@ class Settings_LayoutEditor_Module_Model extends Vtiger_Module_Model {
 		} else if (strtolower($fieldType) == 'time') {
 			$defaultValue = Vtiger_Time_UIType::getTimeValueWithSeconds($defaultValue);
 		} else if (strtolower($fieldType) == 'currency') {
-			$defaultValue = CurrencyField::convertToDBFormat($defaultValue, null, true);
+			//The argument for $skipformatting parameter is passed false to get the value in DB format($).
+			$defaultValue = CurrencyField::convertToDBFormat($defaultValue, null, false);
 		} else if (strtolower($fieldType) == 'decimal') {
 			$defaultValue = CurrencyField::convertToDBFormat($defaultValue, null, true);
 		}