Holding Different Currencies in Same Account..

I'm using the Canadian version of Money 2004. I was wondering if its
possible to hold two different currencies in the same brokerage account (ie:
US dollars and Canadian dollars). Money is set up now to show all my cash
holdings in my brokerage account in Canadian dollars. As soon as I try to
tranfer US dollars to my account money converts it to Canadian and combines
it with any of the Canadian dollars I'm holding. I would like to be able to
tranfer US funds to this same brokerage account and have them remain
separate from the Canadian cash and show me with two cash holdings.

Thanks

Joel

via_newsgroup
Thu Jul 21 11:00:36 CDT 2005

In microsoft.public.money, Joel Wehr wrote:

>I'm using the Canadian version of Money 2004. I was wondering if its
>possible to hold two different currencies in the same brokerage account (ie:
>US dollars and Canadian dollars). Money is set up now to show all my cash
>holdings in my brokerage account in Canadian dollars. As soon as I try to
>tranfer US dollars to my account money converts it to Canadian and combines
>it with any of the Canadian dollars I'm holding. I would like to be able to
>tranfer US funds to this same brokerage account and have them remain
>separate from the Canadian cash and show me with two cash holdings.

I would enter the money that you bring into the account as USD with
Buy of a US Money Market fund. If you define it to be a MMF, Money
might treat it as having a fixed 1 CA$ price. If you define it as a
US Mutual Fund and give it a symbol such as US:FDRXX or US:VMMXX, it
should track US$ prices as you fetch quotes.

I have not tested this, but it is what I would try.

darp
Thu Jul 21 11:29:12 CDT 2005

I would open a new account with account currency of US dollars. You can name
it the same way as your existing brokerage account + USD in the name. Your
broker keeps your holdings in a custodian bank account. The banks usually
handle such cases by opening a separate subaccount for every currency that
you can hold in an account. It would've been nice if Money supports
subaccounts.

"Joel Wehr" wrote:

> I'm using the Canadian version of Money 2004. I was wondering if its
> possible to hold two different currencies in the same brokerage account (ie:
> US dollars and Canadian dollars). Money is set up now to show all my cash
> holdings in my brokerage account in Canadian dollars. As soon as I try to
> tranfer US dollars to my account money converts it to Canadian and combines
> it with any of the Canadian dollars I'm holding. I would like to be able to
> tranfer US funds to this same brokerage account and have them remain
> separate from the Canadian cash and show me with two cash holdings.
>
> Thanks
>
> Joel
>
>
>