diff --git a/erpnext/setup/doctype/company/company.py b/erpnext/setup/doctype/company/company.py
index 94be33c..057f748 100644
--- a/erpnext/setup/doctype/company/company.py
+++ b/erpnext/setup/doctype/company/company.py
@@ -75,6 +75,8 @@
 							.format(self.get(field), self.name))
 
 	def validate_currency(self):
+		if self.is_new():
+			return
 		self.previous_default_currency = frappe.get_cached_value('Company',  self.name,  "default_currency")
 		if self.default_currency and self.previous_default_currency and \
 			self.default_currency != self.previous_default_currency and \