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Book cost - why it's changing?


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Hi,

It seems that my book cost fluctuates. In order to calculate running P/L of the portfolio, the book cost should be fixed in the account native currency on time of purchase?

Why is it changing? Is it because at the time when I bough US shares the GBP/USD was different?

Also what does it mean when the book cost goes down in that scenario? Is it because NOW the GBP/USD is higher in value?

I guess book cost going down than what I actually aid for it, it means that I'm losing on the exchange rate  since I bought the shares respectively 

I bought US shares with my GBP account.

 

Many Thanks,

George

Edited by Georgi
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Will someone from the IG community answers the question why the book cost is not fixed in native currency at the state of the world = the time of purchase of foreign shears (the exchange rate at the time of purchase)?  This is the right thing to do, otherwise the running P/L is wrong.. 

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  • 5 months later...

I had the same question and after an unhelpful online chat, I sent email to the helpdesk.

Their reply after 3 days is as follows: Please be informed that the booking cost is fixed.
However, as you hold shares bought in a different currency than GBP, the conversion of that booking cost to GBP is fluctuation, therefore the the overall booking cost to GBP is also changing

I still fail to see how this can be the the case, given that when I bought the shares I was charged in GBP at the exchange rate at the time, and therefore the GBP book cost should not change.

I will go back and challenge their response, but I'm not holding out much hope  of geting a different response.


 

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  • 2 months later...

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