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Interactive Brokers downloading in wrong currency

faisal

Hi,

I have my Quicken for Windows (Subscription) set to Multi-Currency with the home currency set at Kuwaiti Dinar. I have linked my Amercian bank account and the account was setup in USD as it should be automatically. However when I linked my Interactive brokers account, which is in USD, quicken setup an account in Kuwaiti Dinar with the amount of money being the same number in USD but marked Kuwaiti Dinar. It is not doing an exchange rate, just showing the exact numeral number but in the wrong currency.

Any way to rectify that?

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Investments

Windows

Multi-Currency

Comments

Quicken Kristina

Hello @faisal,

To answer your question, per this article, there is no way to change the currency of an investment account after it has been added. To switch it to the correct currency, you would need to backup your Quicken file, deactivate the account in the incorrect currency, then go to Tools>Add Account and follow the prompts to re-add the account (adding as new, not linking to the existing account in the wrong currency). Once you confirm the new account is reflecting correctly, you can delete the account that was in the incorrect currency.

If it is still defaulting to the wrong currency after you re-add it, then you may need to add the account as a manual account first (so that you can choose the currency), then connect the account to the financial institution. To do that, you would go to Tools>Add Account and select the Offline Account tab.

In the offline account tab, select the correct account type and fill out the required information. One of the screens should give you an option to select the currency.

Once you finish creating the account manually, you would go to Tools>Add Account, follow the prompts, and then link the account to the manual account you created.

I hope this helps!

Chris_QPW

I gave this a try, and this is a problem with Quicken, not your data file or the data coming from Interactive Brokers.

In general, Quicken Windows US doesn't support importing of transactions in any other currency that USD, but it also seems that it assumes that if it is able to do importing at all the home currency and the one being imported are the same when first creating an account from a download.

I changed the home currency to AUD and sure enough when I imported some transactions using a QFX file the account was created with AUD, even though in the QFX file the currency is set to USD.

But @Quicken Kristina 's workaround of creating the account first as an offline account with the right currency did work for me in this test.

faisal

Hi @Quicken Kristina

Neither solutions worked. Deleting and adding again, added it in the wrong currency.

I created an offline account, same type as the Interactive brokers account (brokerage) in the correct currency; when I added a new online account, quicken would only display the accounts that are of the home currency. Hence I couldn't link it to the correct currency account.

Quicken Kristina

Thank you for your reply,

Due to the nature of this issue, I recommend that you contact Quicken Support directly for further assistance as they can walk you through troubleshooting steps in real-time and escalate the situation as needed. The Quicken Support phone number can be found through this link here. Phone support is available from 5:00 am PT to 5:00 pm PT, Monday through Friday.

I apologize that I could not be of more assistance!