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You need a timestamp and a timeseries database of exchange rates so that you can go back in time and reconstruct your calculations at a latter date as well. So
by kchoudhu 8y ago
You need a timestamp and a timeseries database of exchange rates so that you can go back in time and reconstruct your calculations at a latter date as well.
Source: worked at a bank that implemented pretty much this.
- swish_bob 8y agoTo multiple different currencies at multiple valuation points. With optional exchange rate costs. It's a pain in the arse ... Source: worked on multi-currency fund tracking software.
- zachrose 8y agoAgreed with both of you, and using an exchange rate at a specific point in time actually could make deferring that calculation even more of a sound idea, depending on the exact semantics of what you’re computing. At larger scales even exchange rates are a leaky abstraction over a forex market, so there you go. No solution will work everywhere. But if you’re entering the prices of last week’s coffee and hotel room into a web app to see how much you’ll be reimbursed, you don’t want to use a new exchange rate every time a form input changes. Source: worked on multi-currency expense reporting software where everything is done in JavaScript floats.