diff --git a/erpnext/controllers/buying_controller.py b/erpnext/controllers/buying_controller.py
index 3605d60a0fc..8de9a3a319e 100644
--- a/erpnext/controllers/buying_controller.py
+++ b/erpnext/controllers/buying_controller.py
@@ -466,7 +466,7 @@ class BuyingController(SubcontractingController):
 					self.precision("item_tax_amount", item),
 				)
 
-				self.round_floats_in(item)
+				self.round_floats_in(item, do_not_round_fields=["conversion_factor"])
 				if flt(item.conversion_factor) == 0.0:
 					item.conversion_factor = (
 						get_conversion_factor(item.item_code, item.uom).get("conversion_factor") or 1.0
diff --git a/erpnext/controllers/taxes_and_totals.py b/erpnext/controllers/taxes_and_totals.py
index 968bb1fc7b5..57e0bc75b9c 100644
--- a/erpnext/controllers/taxes_and_totals.py
+++ b/erpnext/controllers/taxes_and_totals.py
@@ -225,7 +225,12 @@ class calculate_taxes_and_totals:
 		if self.doc.get("is_consolidated") or self.discount_amount_applied:
 			return
 
-		do_not_round_fields = ["valuation_rate", "incoming_rate", "sales_incoming_rate"]
+		do_not_round_fields = [
+			"valuation_rate",
+			"incoming_rate",
+			"sales_incoming_rate",
+			"conversion_factor",
+		]
 		for item in self.doc.items:
 			self.doc.round_floats_in(item, do_not_round_fields=do_not_round_fields)
 			self.calculate_item_rate(item)
diff --git a/erpnext/public/js/controllers/taxes_and_totals.js b/erpnext/public/js/controllers/taxes_and_totals.js
index dfdf2827cee..30dcfb0e83a 100644
--- a/erpnext/public/js/controllers/taxes_and_totals.js
+++ b/erpnext/public/js/controllers/taxes_and_totals.js
@@ -143,11 +143,26 @@ erpnext.taxes_and_totals = class TaxesAndTotals extends erpnext.payments {
 		}
 	}
 
+	get_item_fields_to_round() {
+		const [item] = this.frm.doc.items || [];
+		if (!item) {
+			return [];
+		}
+
+		const do_not_round_fields = ["conversion_factor"];
+		return frappe.meta
+			.get_fieldnames(item.doctype, item.parent, {
+				fieldtype: ["in", ["Currency", "Float"]],
+			})
+			.filter((fieldname) => !do_not_round_fields.includes(fieldname));
+	}
+
 	calculate_item_values() {
 		var me = this;
 		if (!this.discount_amount_applied) {
+			const fields_to_round = this.get_item_fields_to_round();
 			for (const item of this.frm.doc.items || []) {
-				frappe.model.round_floats_in(item);
+				frappe.model.round_floats_in(item, fields_to_round);
 				item.net_rate = item.rate;
 				item.qty = item.qty === undefined ? (me.frm.doc.is_return ? -1 : 1) : item.qty;