diff --git a/CHANGELOG.md b/CHANGELOG.md
index f51662bd9..5fc948b02 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -14,6 +14,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - Improved the language localization for German (`de`)
 - Upgraded `prisma` from version `5.9.1` to `5.10.2`
 
+### Fixed
+
+- Added the missing default currency to the prepare currencies function in the exchange rate data service
+
 ## 2.55.0 - 2024-02-22
 
 ### Added
diff --git a/apps/api/src/services/exchange-rate-data/exchange-rate-data.service.ts b/apps/api/src/services/exchange-rate-data/exchange-rate-data.service.ts
index 2d169737a..148fac560 100644
--- a/apps/api/src/services/exchange-rate-data/exchange-rate-data.service.ts
+++ b/apps/api/src/services/exchange-rate-data/exchange-rate-data.service.ts
@@ -451,7 +451,7 @@ export class ExchangeRateDataService {
   }
 
   private async prepareCurrencies(): Promise<string[]> {
-    let currencies: string[] = [];
+    let currencies: string[] = [DEFAULT_CURRENCY];
 
     (
       await this.prismaService.account.findMany({
diff --git a/libs/ui/src/lib/currency-selector/currency-selector.component.ts b/libs/ui/src/lib/currency-selector/currency-selector.component.ts
index 620f0d3eb..8c9415689 100644
--- a/libs/ui/src/lib/currency-selector/currency-selector.component.ts
+++ b/libs/ui/src/lib/currency-selector/currency-selector.component.ts
@@ -159,7 +159,7 @@ export class CurrencySelectorComponent
 
   private validateRequired() {
     const requiredCheck = super.required
-      ? !super.value.label || !super.value.value
+      ? !super.value?.label || !super.value?.value
       : false;
 
     if (requiredCheck) {