diff --git a/src/libs/actions/IOU.js b/src/libs/actions/IOU.js
index a9d04654f8bd..edee278b0eff 100644
--- a/src/libs/actions/IOU.js
+++ b/src/libs/actions/IOU.js
@@ -837,7 +837,7 @@ function createDistanceRequest(report, participant, comment, created, category,
 
 /**
  * @param {String} transactionID
- * @param {Number} transactionThreadReportID
+ * @param {String} transactionThreadReportID
  * @param {Object} transactionChanges
  * @param {String} [transactionChanges.created] Present when updated the date field
  * @param {Boolean} onlyIncludeChangedFields
@@ -1017,7 +1017,7 @@ function getUpdateMoneyRequestParams(transactionID, transactionThreadReportID, t
  * Updates the created date of a money request
  *
  * @param {String} transactionID
- * @param {Number} transactionThreadReportID
+ * @param {String} transactionThreadReportID
  * @param {String} val
  */
 function updateMoneyRequestDate(transactionID, transactionThreadReportID, val) {
@@ -1032,7 +1032,7 @@ function updateMoneyRequestDate(transactionID, transactionThreadReportID, val) {
  * Edits an existing distance request
  *
  * @param {String} transactionID
- * @param {Number} transactionThreadReportID
+ * @param {String} transactionThreadReportID
  * @param {Object} transactionChanges
  * @param {String} [transactionChanges.created]
  * @param {Number} [transactionChanges.amount]
@@ -2242,7 +2242,7 @@ function editRegularMoneyRequest(transactionID, transactionThreadReportID, trans
 
 /**
  * @param {object} transaction
- * @param {Number} transactionThreadReportID
+ * @param {String} transactionThreadReportID
  * @param {Object} transactionChanges
  */
 function editMoneyRequest(transaction, transactionThreadReportID, transactionChanges) {
@@ -2253,6 +2253,23 @@ function editMoneyRequest(transaction, transactionThreadReportID, transactionCha
     }
 }
 
+/**
+ * Updates the amount and currency fields of a money request
+ *
+ * @param {String} transactionID
+ * @param {String} transactionThreadReportID
+ * @param {String} currency
+ * @param {Number} amount
+ */
+function updateMoneyRequestAmountAndCurrency(transactionID, transactionThreadReportID, currency, amount) {
+    const transactionChanges = {
+        amount,
+        currency,
+    };
+    const {params, onyxData} = getUpdateMoneyRequestParams(transactionID, transactionThreadReportID, transactionChanges, true);
+    API.write('UpdateMoneyRequestAmountAndCurrency', params, onyxData);
+}
+
 /**
  * @param {String} transactionID
  * @param {Object} reportAction - the money request reportAction we are deleting
@@ -3505,6 +3522,7 @@ export {
     setUpDistanceTransaction,
     navigateToNextPage,
     updateMoneyRequestDate,
+    updateMoneyRequestAmountAndCurrency,
     replaceReceipt,
     detachReceipt,
     getIOUReportID,
diff --git a/src/pages/EditRequestPage.js b/src/pages/EditRequestPage.js
index 2bdf3d19f16a..4a0dce41265c 100644
--- a/src/pages/EditRequestPage.js
+++ b/src/pages/EditRequestPage.js
@@ -120,6 +120,22 @@ function EditRequestPage({report, route, parentReport, policyCategories, policyT
         Navigation.dismissModal(report.reportID);
     }
 
+    const saveAmountAndCurrency = useCallback(
+        ({amount, currency: newCurrency}) => {
+            const newAmount = CurrencyUtils.convertToBackendAmount(Number.parseFloat(amount));
+
+            // If the value hasn't changed, don't request to save changes on the server and just close the modal
+            if (newAmount === TransactionUtils.getAmount(transaction) && newCurrency === TransactionUtils.getCurrency(transaction)) {
+                Navigation.dismissModal();
+                return;
+            }
+
+            IOU.updateMoneyRequestAmountAndCurrency(transaction.transactionID, report.reportID, newCurrency, newAmount);
+            Navigation.dismissModal();
+        },
+        [transaction, report],
+    );
+
     const saveCreated = useCallback(
         ({created: newCreated}) => {
             // If the value hasn't changed, don't request to save changes on the server and just close the modal
@@ -164,19 +180,7 @@ function EditRequestPage({report, route, parentReport, policyCategories, policyT
                 defaultAmount={transactionAmount}
                 defaultCurrency={defaultCurrency}
                 reportID={report.reportID}
-                onSubmit={(transactionChanges) => {
-                    const amount = CurrencyUtils.convertToBackendAmount(Number.parseFloat(transactionChanges));
-                    // In case the amount hasn't been changed, do not make the API request.
-                    if (amount === transactionAmount && transactionCurrency === defaultCurrency) {
-                        Navigation.dismissModal();
-                        return;
-                    }
-                    // Temporarily disabling currency editing and it will be enabled as a quick follow up
-                    editMoneyRequest({
-                        amount,
-                        currency: defaultCurrency,
-                    });
-                }}
+                onSubmit={saveAmountAndCurrency}
                 onNavigateToCurrency={() => {
                     const activeRoute = encodeURIComponent(Navigation.getActiveRouteWithoutParams());
                     Navigation.navigate(ROUTES.EDIT_CURRENCY_REQUEST.getRoute(report.reportID, defaultCurrency, activeRoute));
diff --git a/src/pages/iou/request/step/IOURequestStepAmount.js b/src/pages/iou/request/step/IOURequestStepAmount.js
index 8f89703e6efd..b0812271c647 100644
--- a/src/pages/iou/request/step/IOURequestStepAmount.js
+++ b/src/pages/iou/request/step/IOURequestStepAmount.js
@@ -68,10 +68,10 @@ function IOURequestStepAmount({
     };
 
     /**
-     * @param {Number} currentAmount
+     * @param {Number} amount
      */
-    const navigateToNextPage = (currentAmount) => {
-        const amountInSmallestCurrencyUnits = CurrencyUtils.convertToBackendAmount(Number.parseFloat(currentAmount));
+    const navigateToNextPage = ({amount}) => {
+        const amountInSmallestCurrencyUnits = CurrencyUtils.convertToBackendAmount(Number.parseFloat(amount));
         IOU.setMoneyRequestAmount_temporaryForRefactor(transactionID, amountInSmallestCurrencyUnits, currency || CONST.CURRENCY.USD);
 
         if (backTo) {
diff --git a/src/pages/iou/steps/MoneyRequestAmountForm.js b/src/pages/iou/steps/MoneyRequestAmountForm.js
index 652e07674ae0..2fe033cacca3 100644
--- a/src/pages/iou/steps/MoneyRequestAmountForm.js
+++ b/src/pages/iou/steps/MoneyRequestAmountForm.js
@@ -228,8 +228,8 @@ function MoneyRequestAmountForm({amount, currency, isEditing, forwardedRef, onCu
         const backendAmount = CurrencyUtils.convertToBackendAmount(Number.parseFloat(currentAmount));
         initializeAmount(backendAmount);
 
-        onSubmitButtonPress(currentAmount);
-    }, [onSubmitButtonPress, currentAmount, initializeAmount]);
+        onSubmitButtonPress({amount: currentAmount, currency});
+    }, [onSubmitButtonPress, currentAmount, currency, initializeAmount]);
 
     /**
      * Input handler to check for a forward-delete key (or keyboard shortcut) press.
diff --git a/src/pages/iou/steps/NewRequestAmountPage.js b/src/pages/iou/steps/NewRequestAmountPage.js
index 569e2ce693ee..1df74569e4c3 100644
--- a/src/pages/iou/steps/NewRequestAmountPage.js
+++ b/src/pages/iou/steps/NewRequestAmountPage.js
@@ -128,8 +128,8 @@ function NewRequestAmountPage({route, iou, report, selectedTab}) {
         Navigation.navigate(ROUTES.MONEY_REQUEST_CURRENCY.getRoute(iouType, reportID, currency, activeRoute));
     };
 
-    const navigateToNextPage = (currentAmount) => {
-        const amountInSmallestCurrencyUnits = CurrencyUtils.convertToBackendAmount(Number.parseFloat(currentAmount));
+    const navigateToNextPage = ({amount}) => {
+        const amountInSmallestCurrencyUnits = CurrencyUtils.convertToBackendAmount(Number.parseFloat(amount));
         IOU.setMoneyRequestAmount(amountInSmallestCurrencyUnits);
         IOU.setMoneyRequestCurrency(currency);