diff --git a/erpnext/public/js/controllers/transaction.js b/erpnext/public/js/controllers/transaction.js
index c5c9973..a56ebd2 100644
--- a/erpnext/public/js/controllers/transaction.js
+++ b/erpnext/public/js/controllers/transaction.js
@@ -704,7 +704,7 @@
 		}
 
 		if(!this.in_apply_price_list) {
-			this.apply_price_list();
+			this.apply_price_list(null, true);
 		}
 	},
 
@@ -1056,7 +1056,13 @@
 		if(!price_list_rate_changed) me.calculate_taxes_and_totals();
 	},
 
-	apply_price_list: function(item) {
+	apply_price_list: function(item, reset_plc_conversion) {
+		// We need to reset plc_conversion_rate sometimes because the call to
+		// `erpnext.stock.get_item_details.apply_price_list` is sensitive to its value
+		if (!reset_plc_conversion) {
+			this.frm.set_value("plc_conversion_rate", "");
+		}
+
 		var me = this;
 		var args = this._get_args(item);
 		if (!((args.items && args.items.length) || args.price_list)) {
diff --git a/erpnext/stock/get_item_details.py b/erpnext/stock/get_item_details.py
index a7638b4..9c26a18 100644
--- a/erpnext/stock/get_item_details.py
+++ b/erpnext/stock/get_item_details.py
@@ -10,6 +10,7 @@
 from erpnext.setup.utils import get_exchange_rate
 from frappe.model.meta import get_field_precision
 from erpnext.stock.doctype.batch.batch import get_batch_no
+from erpnext import get_company_currency
 
 
 @frappe.whitelist()
@@ -590,11 +591,12 @@
 	price_list_currency = get_price_list_currency(args.price_list)
 	price_list_uom_dependant = get_price_list_uom_dependant(args.price_list)
 	plc_conversion_rate = args.plc_conversion_rate
+	company_currency = get_company_currency(args.company)
 
 	if (not plc_conversion_rate) or (price_list_currency and args.price_list_currency \
 		and price_list_currency != args.price_list_currency):
 			# cksgb 19/09/2016: added args.transaction_date as posting_date argument for get_exchange_rate
-			plc_conversion_rate = get_exchange_rate(price_list_currency, args.currency,
+			plc_conversion_rate = get_exchange_rate(price_list_currency, company_currency,
 				args.transaction_date) or plc_conversion_rate
 
 	return frappe._dict({