diff --git a/ChangeLog b/ChangeLog
index 055d392250..fe4a2535f2 100644
--- a/ChangeLog
+++ b/ChangeLog
@@ -15,6 +15,9 @@
 	* src/gnome-utils/exchange-dialog.glade -- New dialog to deal with
 	  exchanges from "within the register", but here because it is
 	  relatively generic.
+
+	* src/register/ledger-core/split-register-load.c -- set the txn
+	  currency based on the currency of the "default account"
 	
 2002-11-24  David Hampton  <hampton@employees.org>
 
diff --git a/src/register/ledger-core/split-register-load.c b/src/register/ledger-core/split-register-load.c
index 79ccf249c9..4ed018b963 100644
--- a/src/register/ledger-core/split-register-load.c
+++ b/src/register/ledger-core/split-register-load.c
@@ -175,13 +175,28 @@ gnc_split_register_load (SplitRegister *reg, GList * slist,
   if (blank_split == NULL)
   {
     Transaction *trans;
+    gnc_commodity * currency = NULL;
+
+    /* Determine the proper currency to use for this transaction.
+     * if default_account != NULL and default_account->commodity is
+     * a currency, then use that.  Otherwise use the default currency.
+     */
+    if (default_account != NULL) {
+      gnc_commodity * commodity = xaccAccountGetCommodity (default_account);
+      if (commodity) {
+	const char * namespace = gnc_commodity_get_namespace (commodity);
+	if (!safe_strcmp (namespace, GNC_COMMODITY_NS_ISO) ||
+	    !safe_strcmp (namespace, GNC_COMMODITY_NS_LEGACY))
+	  currency = commodity;
+      }
+    }
 
     gnc_suspend_gui_refresh ();
 
     trans = xaccMallocTransaction (gnc_get_current_book ());
 
     xaccTransBeginEdit (trans);
-    xaccTransSetCurrency (trans, gnc_default_currency ()); /* is this lame? */
+    xaccTransSetCurrency (trans, currency ? currency : gnc_default_currency ());
     xaccTransSetDateSecs (trans, info->last_date_entered);
     blank_split = xaccMallocSplit (gnc_get_current_book ());
     xaccTransAppendSplit (trans, blank_split);