Multi currency Investment account denominated in home currency

Elliot's Avatar

Elliot

13 May, 2019 06:57 PM

Hi,

So having dealt with a couple of stockbrokers in the past, the general way to display investment accounts with stocks traded in different countries (denominated in different currencies) is to have all the stocks you have in a foreign currency pull in their current value based on the FX adjusted share price, so that everything is displayed as a total in the domestic currency.

E.g. If I live in the UK, all my US stocks are valued based on their US price and then their price displayed adjusted back into GBP. How does Moneydance do this? It doesn't seem it can?

  1. 1 Posted by derekkent23 on 13 May, 2019 08:41 PM

    derekkent23's Avatar

    I am not support staff, just a user.

    Moneydance can handles securities quoted in foreign currencies with prices stored in that currency in the associated security history window. Done that way some areas of Moneydance report the price in the foreign currency other use the relevant exchange rate to convert to the base currency of the data set.
    The free third-party Quote Loader will obtain security prices in their quoted currencies as well as obtaining exchange rates to fulfil the above approach.
    You can also do what I think you are describing, set all securities up in the base currency and let Quote Loader do the conversion from the quoted currency to the base currency using the relevant exchange rate. Quote Loader detects that the Quoted Price and the Security history in Moneydance are different and does the currency conversion automatically before storing the prices in the security history window.

    For information on Quote Loader see post 145 at https://infinitekind.tenderapp.com/discussions/investments/4039-quo...

    Download the PDF attached to post 145 and have a read. On page 1 of the PDF is a link to a YouTube video that will give you an overview of how the Quote Loader works.

    Any questions just post.

    Hope this helps.

  2. 2 Posted by dwg on 13 May, 2019 09:34 PM

    dwg's Avatar

    I'm a fellow user.

    The generally accepted method is to work with securities in their native currency and when reporting allow Moneydance to do a point in time conversion to the base currency in the reports produced.

    If you convert everything to the base currency with each transaction you are building in exchange rate movements into the values which is generally not what is desired.

  3. System closed this discussion on 12 Aug, 2019 09:40 PM.

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