Re: Could SQL-ledger ever support multiple currencies within a company?

[John C. N. y L. <nj...@nt...>]

Jeff Kowalczyk wrote:
> 
> [Jijo] I just thought I'd raise a concern here. I'm from the Philippines
> and here, believe me, the foreign exchange rates are more volatile than
> the rise and fall of the tides. That would be something quite difficult
> to deal with, although I don't think first world countries experience
> such volatility.
> 
> [jeff] If a US company did business there, purchased inventory and sold
> goods in the local currency, but reported back to a US concern, would
> everything be accounted for in Phillipine Dollars or US dollars?

I'm also here in the Philippines, but AFAIK, we don't have Philippine
Dollars, we do have Philippine Peso, however...;-)

And the FOREX Rates are quite volatile, last week it was at around PHP53
to a $, now it's PHP51, perhaps next week it'll be PHP52...;-)

AFAIK, if you haven't converted your money from the local currency, to
that of your company's mother currency (i.e. U.S. dollars), then you
should base it on the current FOREX rates.  Once you have converted the
local currency, however, to that of your desired currency, then you can
start using that figure for the future...;-)

Perhaps you can relate it to the stock market, on having paper
loss/profit and real loss/profit...;-)

At least, that's my 2 centavos worth...;-)


Cheers,


John Clark
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