Accounts have a base currency

[jean-michel-gonet]

Why?

• Because this reflects reality.
• Otherwise it is impossible to compare the return on different indexes.

Condition of satisfaction

• Assets have a domestic currency.
• Accounts have a base currency.
  • NAV is always expressed in base currency.
• When buying or selling an asset, execute the change between:
  • Account's base currency.
  • Asset's domestic currency.
• Import currency quotes.
  • In the model, allow for a spread.