Yes, this functionality used to exist in gnucash.

I first used it in August 2000.
I last used it in March 2003.
I was using Debian unstable in 2003, so it was probably gnucash 1.8.2.

The current documentation does still document the Currency account type:

Help_ch_Account-Actions.xml:
              <row>
                <entry><para>Currency</para></entry>
                <entry><para>Currency Accounts are used for trading 
currencies.</para></entry>
              </row>

I found this in the source:

guint32
xaccAccountTypesValid(void) 
{   
    guint32 mask = (1 << NUM_ACCOUNT_TYPES) - 1; 
    mask &= ~((1 << ACCT_TYPE_CURRENCY) |  /* DEPRECATED */
              (1 << ACCT_TYPE_ROOT));      /* ROOT */
  
    return mask;
}

So maybe the functionality was replaced, but the old documentation
remained.

-- 
Cannot create account of type "currency"
https://bugs.launchpad.net/bugs/278541
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