tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/110148-currency-questionsInfinite Kind: Discussion 2021-06-28T21:40:23Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/491079572021-03-29T14:45:34Z2021-03-29T14:45:34ZCurrency Questions<div><p>I will try and reply to this.<br>
When you enter a transaction against a category that is defined with a different currency MD will convert this to the base currency using the rate relevant at the transaction date.</p>
<p>If you enter both the base currency amount and the foreign amount MD will work out the exchange rate and create a currency rate entry. Look at tools/currencies and double click your foreign currency you will see the new entry.</p>
<p>Quote loader will use the currency table to convert any trade price received in a foreign currency. The rate used is the one for the trade date. <strong>Note:</strong> If you use Quote Loader to load currency rates these are done before the quotes so you get the latest rates.</p>
<p>Quote loader will load currency rates against the base currency, eg if your base is GBP and you trade in EUR and USD you can add EUR and USD to Quote Loader. This will download the current rates.<br>
Hope this helps.<br>
Mike (user not support)</p></div>Mike Bray (Quote Loader Author)tag:infinitekind.tenderapp.com,2009-01-14:Comment/491079572021-03-29T16:22:22Z2021-03-29T16:22:22ZCurrency Questions<div><p>Thanks , and a couple of supplementals.<br>
If, after a transaction has been entered and translated into base<br>
currency, I change the exchange rate by editing currency under Tools, will<br>
the currency translation of that transaction be updated or does it remain<br>
at the exchange rate before change.<br>
This happens when I find somehow the exchange rate for a particular<br>
currency on a particular date is incorrect.<br>
Second question, when I run a report which has some categories in the<br>
original currency, and as yet not translated, which exchange rate will be<br>
used to give the report totals which are in base currency? The exchange<br>
rate at the time the report is run maybe. Or does it apply the exchange<br>
rate appropriate for the time of each transaction? This is because I am<br>
using some categories in non base rate currencies. My base rate is pounds<br>
sterling, but for US securities I have a category for US dividends where<br>
the category is set at USD.<br>
Thanks for your help as always.<br>
David</p></div>davidvernonlongtag:infinitekind.tenderapp.com,2009-01-14:Comment/491079572021-03-29T21:31:20Z2021-03-29T21:31:20ZCurrency Questions<div><p>The exchange rate used on a transaction is recorded with the transaction<br>
when it is created. Changing the rate at a later stage will not change<br>
the transaction. Remember the base currency amount is the true<br>
transaction amount, the foreign currency amount is a memo.</p>
<p>On the second point, I believe it uses the current rate to evaluate the<br>
foreign amount.</p></div>Mike Bray (Quote Loader Author)