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Foreign stocks (FX rate of transaction vs. FX rate end of day)
Hi Midas,
Hope this finds you well. I have got an issue with two transactions (bought stocks in EUR on two different days; both days where Fridays).
FX EURUSD (Buy1, 26-Oct-2018): 1.1352 (intraday)
FX EURUSD (Buy1, 26-Oct-2018): 1.1400 (end of day; this is also the FX rate in the CSV files)
FX EURUSD (Buy2, 9-Nov-2018): 1.1312 (intraday)
FX EURUSD (Buy2; 9-Nov-2018): 1.1333 (end of day; this is also the FX rate in the CSV files)
Issue is that my cost basis in USD is now different from what it should be. The cost basis is calculated using the end of day FX rates (1.1400 ad 1.1333). Can this is be overcome somehow?
Thank you, rgds.
Ralph
Hope this finds you well. I have got an issue with two transactions (bought stocks in EUR on two different days; both days where Fridays).
FX EURUSD (Buy1, 26-Oct-2018): 1.1352 (intraday)
FX EURUSD (Buy1, 26-Oct-2018): 1.1400 (end of day; this is also the FX rate in the CSV files)
FX EURUSD (Buy2, 9-Nov-2018): 1.1312 (intraday)
FX EURUSD (Buy2; 9-Nov-2018): 1.1333 (end of day; this is also the FX rate in the CSV files)
Issue is that my cost basis in USD is now different from what it should be. The cost basis is calculated using the end of day FX rates (1.1400 ad 1.1333). Can this is be overcome somehow?
Thank you, rgds.
Ralph
Comments
In Trans table for buy transaction you can specify exchange rate in columns ExchRateRpt1Override, ExchRateRpt2Override or ExchRateRpt3Override. Here 1..3 specify exchange rate to currency 1..3.
I understand the methodolody with the overriding FX in one of these three columns (ExchRateRpt...). However, I have not yet arrived at a correct value. When I enter the intraday FX, the result is not correct.
It may have to do with the way I entered the transaction (important: reporting currency is EUR, transacion is in USD).
Column F (Qty): 100 shares
Column G (Price): (100 x EUR 50) x 1.1352
Column I (Exch Rate): =1/1.1352
The conversion of this transaction into EUR is correct, but what does the overriding FX have to look like to make PS use the FX of 1.1352 rather than the 1.1400?
Thank you, rgds.
Ralph
Exch Rate column should be used JUST WHEN Account currency and Symbol currency does not match. If they are the same, then you leave Exch Rate column empty and just specify [ExchRateRpt1/2/3Overrride] values.
So what is for this trasaction:
Account currency
Symbol currency
Currencies in "Report Currency" table - I need pairs "Report Currency, CurrencyID".
With this info I'll be able to help you.
Account currency is EUR. Symbol currency for this transactions is USD.
Currency in "Report Currency" table are:
*Original* / 0
EUR / 1
USD / 2
Thank you, rgds.
Ralph
I am assuming that symbol price is 50USD and conversion rate for USD->EUR is 1.1352
Could you please specify following and let me know if the results are not as you expected:
TransType: Buy
Qty: 100
Price: 56.76, that is: 50USD x 1.1352 = 56.76EUR
ExchRate: as you already calculated the price in EUR, you must leave this column empty
As an alternative you could specify:
Qty: 100
Price: 50
ExchRate: 1.1352
And you should get the same results.
Now for proper Cost Basis adjustments, you should specify:
ExchRateRpt1Override: leave this empty as your account currency is EUR and ReportCurency=1 is also EUR.
ExchRateRpt2Override: = 0.880902 (to convert EUR->USD, that is 1/1.1352)
Let me know if your numbers still do not match.