FX Rates

[Ken]

In fact, if a developer is reading this, how difficult would it be for
GnuCash to make a "single conversion jump"?

I would define a standard security price as zero jumps and if prices
exist (for example) on GBP/USD and EUR/USD then GBP/EUR would be a
single jump (including one inverse) where GBP/EUR = GBP/USD *
(EUR/USD)^-1.

One might also imagine the possibility of more than one jump, but I
would guess that 1 jump would be useful in the vast majority of cases.
 For instance, a user which only deals in one currency (i.e. a USD
investor who only tades USD stocks) would get by under the current 0
jump implementation. An investor who trades across different
currencies would need the possibility of a single jump.  As long as FX
rates exist in the major currencies, one jump would allow for nearly
any security to be priced in any other currency.  Only in a very rare
situation would one need more than one jump.

Is this possible to implement?  Is there much demand for such a feature?

Thanks,
Ken




On 6 January 2011 17:55, Ken <kmailuk at gmail.com> wrote:
> 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
>>
>