Managing currencies and exchange rates

My Wealth is designed to handle multi-currency wealth naturally. You can combine assets, liabilities, and income in different currencies, including within the same holding account. As soon as the required rates are entered, totals are converted and displayed in your chosen main currency.

Each item nevertheless retains its actual currency: My Wealth does not change the currency recorded for an asset. It uses rates stored in the file to display that asset in another currency, for example to calculate a total in EUR from an account in USD.

1. Identifying the three possible currencies

The main currency, in Properties > General, is used for Portfolio overview totals and overall analyses.
The item currency describes the account, asset, liability, or income itself.
The target currency of a goal is used to express its current value, target, and monthly effort.

In the budget, the display currency is that of the budgeted account. A goal in CHF added to an account in EUR is therefore displayed in EUR; the same goal remains in CHF in an account in CHF.

2. Responding to the missing-rate dialogue

A conversion requires an exchange rate between the source and destination currencies. Known rates are saved in the .mywealth file and therefore follow your wealth data from one device to another.

If My Wealth needs to convert USD to EUR without knowing the rate:

with a My Wealth LIVE licence, the application first attempts to retrieve the conversion;
otherwise, the dialogue states the exact direction, in the form “How many EUR is 1 USD worth?”;
enter the value of one unit of the first currency in the second;
select Save rate.

Example: if USD 1 is worth EUR 0.92, enter 0.92 for USD to EUR. Do not enter the inverse value 1.087 in this field.

If you cancel or keep the value 0, the conversion remains unavailable. The pair is nevertheless saved so that My Wealth does not ask for the same rate during every calculation.

3. Finding conversions in Checks

The Checks panel gathers missing pairs and shows affected calculations. The counter distinguishes active issues from unread ones. An action opens rate correction directly; once corrected, the issue disappears. The panel works without the AI assistant and without a Live licence. Budget issues, such as a transfer cycle, are also reported there.

Checks panel showing an unavailable conversion

4. Correcting a zero, inverted, or outdated rate

Open Properties > Exchange rates.
Find the row whose currencies match the message in the view.
Replace 0 or the incorrect value.
Apply the properties, then return to the view: the total should be recalculated.

The Enter rate action opens this section directly and places the cursor on the relevant conversion.

A zero rate means “conversion unavailable”. The application keeps the pair at 0 when you cancel so that it does not open the dialogue during every calculation. The affected totals remain partial until you enter a positive value.

5. Goal currency

For a Currency scope, select exactly one currency. For multiple assets or holding accounts that may use different currencies, My Wealth initially suggests the main currency. In all cases, you can change the target currency before saving the goal.