Incorrect Exchange Rate Update

Both exchange rates that I need are multiplied by 1.000.000 when updated automatically.
BRL / EUR = 6.123.699
BRL / USD = 5.170.400

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    At the moment, according to https://themoneyconverter.com/BRL/USD the current exchange rate is
    about US$0.19 per 1R$
    (or 5.28R$ per 1US$)
    Are you sure that the currency table in Q Mac correctly points the Brazilian Real currency to currency code = BRL? Or does it point to some other currency code?
    Quicken Support should be alerted if incorrect exchange rates are downloaded from their service provider
    (However, as far as I can determine, a correct exchange rate is downloaded for Quicken for Windows, currency code BRL)


  • Quicken Francisco
    Quicken Francisco Alumni ✭✭✭✭
    edited September 2021

    Hello @Felipe L

    Thank you for reaching out to the Community regarding your issue, although I am sorry to hear that you are experiencing issues with your currency rates. I was taking a look on my side to see if I had a similar issue with exchange rates but did not. Could I ask if you're downloading the transfers automatically or are you manually transferring between the accounts?

     Another thing to check is if the currency conversions are correct as well. You can do this by going across the top to Window > Currency. Here it will outline the conversions and give us a better idea of what could be happening.

    Once you get a chance to try these steps, please let us know what you find.  From there we'll better understand our next steps/options.

    Thanks,

    Quicken Francisco


  • Hi Francisco. I do import QFX files but do everything else manually. I already checked Window > Currency and there I see the exchange rate multiplied by 1million.

    I am sure my home currency is Brazilian Real = BRL

    Is that possible to attach a printscreen here?
  • Hi there, thanks for both of you.

    I am sure my home currency is Brazilian Real = BRL.
    I import my transactions using QFX files and mange the transfers manually.
    In Window > Currency is where I can see exchange rate multiplied by 1 million.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    I noticed in your original question that you wrote numbers using the European/International way of formatting decimal commas and 1000-separation points (1.234.567,89) as opposed to the US method of decimal points and 1000-separation commas (1,234,567.89)
    Could this be causing this problem in Quicken Mac where currency conversions are concerned?
  • I have no idea. I wrote how it appears on the screen.
  • Quicken Francisco
    Quicken Francisco Alumni ✭✭✭✭
    @Felipe L

    Thanks for the update. I'll leave an article down below on how to take a screenshot and upload it. If you could get a screenshot of the currency screen so we're able to see what exactly it has. From there we can see about correcting it.

    https://community.quicken.com/discussion/7663259/faq-how-do-i-post-a-screenshot-in-the-community-from-a-mac#latest

    Note: You may need to drag the screenshots in the response box to add them.

    Once you've had a chance to do so let us know and we'll take a look.

    Thanks,
    Quicken Francisco
  • Find attached the screenprints
  • Quicken Francisco
    Quicken Francisco Alumni ✭✭✭✭
    @Felipe L

    Thanks for the update. The photo down below confirms your original currency rate multiplication. 

    That being said I'd like to see if we're able to have the program update to the correct amounts. I'd like to see if we switch the sidebar home currency to US Dollars then back to Brazilian Real if we might be able to update it to the correct amounts. 

    To do this you'll want to go across the top to Quicken > Preferences. From here select US Dollar as the default currency and accept the change. From there go into the go across the top to window > currency and update the currency rates. We'll then want to change the sidebar home currency back to Brazilian Real and update the currency rates again.

    Ideally, this should pull the rates again to the correct amounts instead of the multiplied amounts. Once you've had the chance to do this let us know how it goes. 

    Thanks,
    Quicken Francisco
  • Hi Francisco. Did not work.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    It might have something to do with the Mac's region setting (which is responsible for using periods where we in the US would use commas, and vice versa). I wonder what would happen if you temporarily switched your Mac to the US (System Preferences > Language & Region) whether this would change anything with the conversion rate in Quicken. 
    Quicken Mac Subscription • Quicken user since 1993
  • Hi Jacobs. I did the change and it reflected on the exchange rate calculation. Quicken get the right number when I change the region from Brazil to US. What would be the next step?
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @Felipe L If I understand you correctly, you're saying the price is correct if your Mac is set to the US Region, but the price is incorrect if you select the Brazil region?

    At this point it would appear this is a bug in Quicken Mac. I would suggest using Report a Problem on the Help menu in Quicken to describe exactly that in formation. You could include the URL of this thread on the community forum as a reference with screenshots, or you could upload screenshots of the currency exchange screen for both settings in your problem report. Unfortunately, you will get no reply to Report a Problem submissions, so you have no way of knowing if they checked it out and see the same issue you're reporting or if the person checking it out can't reproduce the problem correctly and discards the report.

    Your other option is trying to report the problem via Quicken Support. In theory, if you get them to verify the problem you're describing, they can create a bug report ticket. Depending on the quality of the Support representative you get, they may or may not grasp the issue, but it can be worth a try. Phone support is generally better for this, because they can screen share your Quicken to see exactly what you're seeing, but I'm not sure if it's practical for you to call the US from Brazil; you can also use their chat support, but it's a little harder to describe and upload screenshots of an issue like this.
    Quicken Mac Subscription • Quicken user since 1993
  • Thanks a lot. I will call them.
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