Setting a Fixed Currency exchange Rate

JayDev758JayDev758 Member Posts: 4

Hello there

I have similar issues with my currency. My currency (XCD) rate is tied (fixed) to the USD, meaning our rate doesn't change on a daily basis.

Our local bank rates are as follows:

Cheque /Wire Buy: 2.6882
Cash Buy: 2.67
Sell Rate: 2.7169
Mid rate: 2.70255

Is there an option in Wave Accounting to set a fixed exchange rate?

Tagged:
edited August 29, 2018 in Bank Connections

Comments

  • CharlotteCharlotte Member Posts: 695 admin

    Hi @JayDev758 - Wave uses a daily updated feed of mid-market exchange rates from xe.com to convert your foreign exchange transactions. At this time though, it isn't possible to manually set your own rates or a fixed rate. We'd love to help if you have any further questions - please let us know!

  • MediPaperMediPaper Member Posts: 9

    I too would see a huge time saver in an option that would allow for a fixed Fx. I live in Hong Kong and the HKD is fixed to the USD too. We don't use mid-market rates as they generally don't include bank costs, including credit card Fx rates which can be 5% higher. Perhaps Wave can consider this as a feature. Thanks

  • WaterholeWaterhole Member Posts: 1

    Ditto with this issue from Belize where the Belize Dollar is tied to USD 2-1. No other exchange rate is used in daily commerce.

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