Currency Issues between Logged Currency and Recorded Currency resulting in two values for Networth

Rhomaios Ram's Avatar

Rhomaios Ram

17 Jul, 2022 09:08 PM

Please see attached Screenshot. It shows the following 4 Windows:

1. A security (Nasdaq Biotech) which is denominated in USD.
2. The Security History which shows the currency as USD and the latest Price as 40.18 (as well as historical price at 40.18)
3. The Security Details Page from the portfolio its in, which shows the currency as GBP (my base currency), but the price as 40.16
4. and a shot of the FT showing the correct price as 40.18 USD.

Essentially all my USD holdings are overvalued by 20% so my Networth is wrong - but I have two different options to show Networth (at Top of summary page and in amongst the portfolio detail and these show different values for net worth).

This problem does not occur with EUR holdings??

Please help.

  1. 1 Posted by Stuart Beesley ... on 18 Jul, 2022 05:06 AM

    Stuart Beesley (Mr Toolbox)'s Avatar

    And what does Tools/Currencies say as the price from USD to GBP?

  2. 2 Posted by Rhomaios Ram on 18 Jul, 2022 06:11 AM

    Rhomaios Ram's Avatar

    Bingo!

    It says 1 USD to 1 GBP

    Can you remind me where i find the instructions to fix this?

    Thanks.

    Rhom.

  3. 3 Posted by Rhomaios Ram on 18 Jul, 2022 06:15 AM

    Rhomaios Ram's Avatar

    hmmm - but this is also the case with Euro's. where I dont have this
    problem.

  4. 4 Posted by derekkent23 on 18 Jul, 2022 06:52 AM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Rhomaios

    2022.4(4087)
    Moneydance cant covert currencies unless it has the relevant up to date exchange rates.

    My base currency is also British pounds and I have securities traded in US Dollars and Euros. I ensure exchange rates are updated by using the extension Quote Loader.

    Try the extension Quote Loader under EXTENSIONS – MANAGE EXTENSION

    For information on the features of this extension and how to use see post 259 at
    https://infinitekind.tenderapp.com/discussions/investments/4914-the...

    Download the PDF’s attached to post 259 and have a read.

    To update currency exchange rates using Quote Loader tick “Process Currencies”. For a currency to be listed under “Ticker” symbols it must be selected in Moneydance to “Show on summary page” under TOOLS – CURRENCIES select currency - EDIT.

    Security prices can also be downloaded using FT as the source.

    Let us know how you get on or if you need help just post.

    Hope this helps.

  5. 5 Posted by Rhomaios Ram on 18 Jul, 2022 07:08 AM

    Rhomaios Ram's Avatar

    Hi Derek and Stuart,

    Many thanks for the help. Im not quite sure how, but I think we fixed the
    problem.

    I already use Quote Loader - but I downloaded a different extension called
    "quotes and exchange rates".

    That seemed to have fixed the FX problem.

    I think the reason that the quotes extension has not worked for me is that
    I didn't explicitly hit the get exchange rates button - so suspect that
    will work next time.

    Thanks for your help.

    Rhom.

  6. 6 Posted by derekkent23 on 18 Jul, 2022 07:22 AM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Rhomaios

    Clicking GET PRICES will obtain Security Prices and Exchange Rates.
    If this is not happening check the following:
    1. In Quote Loader is the PROCESS CURRENCY box ticked?
    2. Do you see EUR, USD and any other currencies you want exchange rates updated listed in the Quote Loader table? If not ensure for these currencies you tick “Show on summary page” under TOOLS – CURRENCIES select currency - EDIT.

    Hope this helps.

  7. 7 Posted by derekkent23 on 18 Jul, 2022 07:45 AM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Rhomaios

    After checking the points in the last post click GET PRICES and note if the NEW Exchange Rates appear in the table. No need to click CLICK TO SELECT ALL LINES and SAVE SELECTED VALUES if you don’t want to although it will do no harm.

    Hope this helps.

  8. System closed this discussion on 17 Oct, 2022 07:50 AM.

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