FX Rates

[Ken]

Hi Derek,

Say I have security IBM and store all the prices in USD and also
maintain GBP/USD exchange rates. If I then want to generate a report
in GBP, do I need to enter the GBP price of IBM?

That is, I have IBM/USD and GBP/USD prices stored so the only way to
get IBM/GBP would be for the exchange rate logic to allow for
"jumping" between currencies. Do I need to maintain IBM prices in
dollars and sterling?

Thanks,
Ken


On 6 January 2011 17:39, Derek Atkins <warlord at mit.edu> wrote:
> Hi,
>
> Ken <kmailuk at gmail.com> writes:
>
>> What is the exchange rate logic in GnuCash? For example, if I have
>> some price data for GBP/USD and EUR/USD for a number of dates, say 1st
>> of each month, how does the program calculate the exchange rate for
>> GBP/USD on, say, the 15th of a month? Can it calculate GBP/EUR given
>> the other rates?
>
> No.  It cannot jump currencies.
>
>>    Does it understand USD/GBP to be the inverse of GBP/USD?
>
> Yes, this it should be able to yes.
>
>> Thanks,
>> Ken
>
> -derek
>
>> On 24 January 2009 20:45, Mike Alexander <mta at umich.edu> wrote:
>>> --On January 24, 2009 7:02:38 PM +0000 Ken <kmailuk at googlemail.com> wrote:
>>>
>>>> Mike, would you have a moment to look at the sample file included to
>>>> confirm this yourself and let me know whether you think another
>>>> bugzilla needs to be opened for this (or whether I am simply doing
>>>> something wrong--entirly possible as I am new to GnuCash from Quicken
>>>> UK)?
>>>>
>>>
>>> I tried your sample file both with and without my patch and the patch fixes
>>> it.  My sample file attached to the bug is essentially the same.
>>>
>>>       Mike
>>>
>>>
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>
> --
>       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
>       Member, MIT Student Information Processing Board  (SIPB)
>       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
>       warlord at MIT.EDU                        PGP key available
>