Make currency per record, as balance changes every day with currency exchange rate updates
Currently, currency is either synced each day, or is once manually set in the app. The problem is, when you do the exchange, you "fixate" the currency rate on a particular day, and it might be different each day, even each hour or minute. Besides, different banks might have different exchange rate on different day, or for different kind of operation (imagine having German card, but paying in Poland in McDonalds with that card the price in pl)
Because of this, balance changes every day, even when you already "committed" the exchange with value set for some particular day and got money in the other currency.
If the currency was set per record, it would fix this bug.
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Paul K. commented
For me it´s a simmilar problem. If i transfer money from one bank account in switzerland to a bank account in germany, i always have a difference in the first or the second account, because the bank uses a different exchange rate than the app. If i instead use outcome and income other than transfer, the statistic is wrong, because i´m not "spending" and "earning" money, i´m only transfering, but with a small difference all the time. I bought a lifetime premium, and it would be very helpful if you could fix this problem.
My suggestion: The possibility of writing two amounts of money if i transfer to another currency. because then i can write exactly what my bank did in the transfer. Thank you very much. -
Virgílio Matos Silva commented
This makes even more sense on the Investment new feature. Can't properly add my buy/sell track record due to this.
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Viktar Aliakseyeu commented
I would like to support this idea. I'm getting payments and save money in non-default currency primarily. Any exchange rate changes affects the statistics a lot. Very painful thing.
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Éva Berkes commented
Yes, this is very important to solve, because the change in exchange rates distorts the statistics if the user keeps budget data in several currencies. In this case, the Wallet is not well suited for exactly what it is supposed to do. I started using it a few weeks ago and already my opening balance in the application is very different from the op e. ening balance set at the start due to changes in the price of foreign currencies. It is also not a solution if I manually record the exchange rates, because in this case the balances are also changed, but never show the correct value.
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Michael Kainer commented
This is a problem I had with the application as well. I might look back 6 months later at an expense and see a completely different number, since it is showing me the amount converted from the dollar of the day, rather than the historical exchange rate from 6 months ago.
I have decided to work around this by only entering expenses in my local currency manually based on the receipt. A bit sad though since it basically makes the bank sync feature useless.
For my use case for instance, I live in Brazil, where the currency is in BRL, however, I do quite a bit of spending with my US credit card to accumulate points. When syncing my bank to the app, it's going to report everything in USD, which is fine, except I would like to see my budget in BRL since most everything I do is in that currency. Not to worry, the app converts everything when looking at the budget overview. Awesome! One thing though, every time I look back at my numbers for the previous month, they continually change each time I check. I thought I had only spent 400 BRL last month, but now instead it's showing I spent 410. Weird!
That's where I'm at currently. Naveen's comment seems to indicate its been fixed for individual records, which is already 50% of the way there. Now if we can have bank data reflecting the conversion of the day (or better yet, maybe grabbing the bank's own conversion data for the transaction) that would be great.
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Naveen Avishka commented
I think this is now fixed for individual records. But when we look at the statistics, problem is still there. Income and expenses changes when we change the currency rate from settings but individual record seems fine
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O H commented
Please help us to fix this issue asap as at some point, specially now with the big changes of more than 10% in some currencies against others, the totals could be completely useless and therefore the app;
I guess a feasible and quick solution will be:The most important one, is to allow the option to have an exchange rate per record and the possibility to manually adjust it if needed
Also is important to get the exchange rate of every day through a public/private service from your side and apply it to all the transactions in this way; so for example on June 11th I add a record from May 1st the exchange rate of that given record is the best approximate of May 1st (but keeping the option to be modified if required by the user)
Thanks
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Abdelmalek commented
I totally agree and what’s worse is when the rates change, previous months and balances also change and that’s really annoying because the stats won’t mean anything at some point.
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Anonymous commented
I think this is a very problematic issue with the application and has to be sorted out.
In order to give a potential solution to the Devs based on the above, it is strongly suggested to implement the below:
When reflecting the balance of each or all accounts, the exchange value against the base currency is always updated based on the daily rate.
However, when creating transfers between accounts, if the exchange rate was set to a custom value throughout the process,then it should therefore retain this the value of that particular transaction.
And last but not least, when showing the total amount of transactions per account, is it possible to give the balance in the account currency rather than the base currency?