1. FAQ
  2. Synchronization

If I have an account in a foreign currency, will the currency be converted? At what exchange rate?

For the time being, only Canadian, Australian and New Zealand banks are accessible. Foreign currency accounts held by an accessible bank are converted by Kaira using the daily exchange rate (e.g., the Bank of Canada exchange rate) in effect at the time of the synchronization. It is important to know that the exchange rate is used for information purposes only. 

As for transactions that are carried out in a foreign currency in your accounts, your institution will have already converted it before the synchronization process. 

For the time being, if you have assets or liabilities in other countries, you have to add that data manually to better reflect your financial situation. Don’t forget to convert your manual entries to the local currency. Regular amount adjustments will be needed to reflect the real-time value of the account, given fluctuations in the exchange rate.