Where Does GnuCash store exchange rates

[Ilan Sebba]

Hello

I hope this is the right forum/email address to ask questions. This is the
first time I am posting a question on GnuCash.


My question is: where does GnuCash store exchange rates for balance sheet
items, where the balance sheet items have two (or more) currencies? I will
illustrate my problem with an example.

I have an account say MyAsset (in USD), with a MyAssetSubAccount (in GBP).
GnuCash gives me the total value of MyAsset, in USD. That is, GnuCash takes
the value of MyAssetSubAccount (in GBP) and converts it to USD, and adds
this USD amount to MyAsset.

When I enter the value of the MyAssetSubAccount (in GBP) I do not get an
opportunity to enter the appropriate exchange rate. That is because I am
entering a GBP value into an account expecting a value in GBP. So there is
no exchange rate to convert.  Also, with time, the exchange rate
fluctuates, and the value of MyAsset (in USD) changes. This is because the
value of MyAssetSubAccount, when measured in USD changes on a daily basis.

When I generate a balance sheet on a given date, GnuCash must convert
MyAssetSubAccount to USD using the exchange rate on the balance sheet date.

In doing that conversion, what exchange rate does GnuCash use, and where
does it store that exchange rate? Can I enter these exchange rates
manually? If so, where? I am new to GnuCash so please give detailed
instructions.

Best regards
Ilan