Currency Exchange List for USD$ is not complete for every month end or day

edited March 17 in All things Canadian
I use Quicken to track realized and unrealized capital gains in Canadian dollars and the currency exchange list is very spotty and incomplete. There are values for some days but not for example for each month end and even for every day of a trade. Why does this table not fill out completely? Why so spotty? How can I get it to fill out without manually entering each week or month end exchange rate? And then if I go to import currency exchange rates historical will it override the manual entries I made? How to fix this as it makes a huge difference for canadian taxation.

Answers

  • Hello questionsforever. Appreciate your question.

    Which version of Quicken Canada are you using? Is it for PC or Mac?

    Please let us know so that we can best help you further.

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • edited March 17
    Quicken for PC Windows. I have browsed the currency exchange list and it is totally random. Some months are missing completely. Some months are 3 entries like Nov 1, Nov 12 and Nov 26. I looked at my investment transactions and it seems Quicken just picks the Nov 1 rate for everything up to the 12th, then the 12th rate...but needless to say 3 rates for a month is not enough. I have trades every 2 or 3 days in some months. I need at least 4 rates for each month but even better would be a rate for EACH weekday for every year. In some years going back to say 2010 I get just 1 rate per month or 12 per year. This throws off the calculation of cost basis using transaction exchange rate for stocks bought long ago severely. That means extra tax dollars I have to pay because I don't have accurate exchange spot rates in the currency list. This is a top priority how to get lots more data in there. I have the data from bank of canada site daily or from other sources but how do I get it into the table without manually entering every spot rate?
    Also after populating it - if possible - for every day or week, how do I get the investment account to update the exchange rate wholesale for each trade to use the new data?
  • I looked @ my USD history (and I download stock info and currency +- every day) - apparently, it stopped working in 2011, as far as I can tell - before that I was getting it daily. You might to check the following thread too - I don't trade every 2 days and I hate to do that report every year manually, I hope your broker might be able to produce a report with currency info or welcome to excel. 

    https://community.quicken.com/discussion/7848290/canadian-reports-that-include-usd-transactions


    Subscription QW H&B Canada
  • smayer97smayer97 SuperUser
    @Quicken Harold 
    BTW, the Currency Exchange List only exists in QWin-CA and no other version.
    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (QM2007, Canadian user since '92)
    Have Questions? Check out these FAQs:
  • An example: I used meticulous pulling of data from my broker in Excel using an amazing add-in from https://professor-excel.com/currency-conversion-excel/
    using my broker data in USD. I got the exact exchange rate on the date of every trade. The difference versus the Quicken 'spot' rates is 17% less gains using accurate data. I can tell you on a large amount of gains that is not an insignificant of tax you would save if you had better reporting. Anyway, just an FYI. All Quicken would need to do to fix this is to have an exchange rate in the currency list for every day that there is a transaction.
  • I tested some more and as far as I can tell - currency exchange rate history is saved ONLY if I hit One Step update button. Apparently, Update button from Investing or preferences\updating prices every 15 minutes - does not record exchange rates (since 2011). 
    Subscription QW H&B Canada
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