I used to get my historical forex rates, for any currency, for any date, for any date range with a period average rate also given: on Oanda, free of charge.
However, they have now started charging £100 a month or so. I wouldn't mind so much if it was £100 a year max, but I'm not paying that a month just for historical forex rates.
What do others now use?
In the meantime I've been making do with the HMRC website, and x-rates.com. But these aren't as simple, nor comprehensive as Oanda was.
Thanks for your help in advance.
Replies (8)
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When the FT's historical rates got removed i started using rates from BoE. http://www.bankofengland.co.uk/boeapps/iadb/Rates.asp?TD=20&TM=Jan&TY=20...
I get mine from here -
http://www.ukforex.co.uk/forex-tools/historical-rate-tools/historical-ex...
but a sample comparison showed that there was very little difference between this and the BOE site.
Take your pick.
Xero and (I think) Quickbooks use http://www.xe.com/currencytables/ and so I have been using this myself.
Any disadvantage to this over the others mentioned?
There is a huge choice of possible rates for any day. Some are mid-market, some are closing and some are Interbank compared to consumer rates. OANDA was excellent because it gave a good summary, including buy & ask and let one select a rate closer to a cash rate. I suggest manipulating any of the available services to get close to a cash rate if OANDA is missing this data (the IRS in the States uses Interbank plus 4% for example as their suggested unofficial rate).
Yes, I know the aforementioned accounting software uses the mid-market rate.
I am reminded why I have never enjoyed working foreign currency clients
I have one who has 4 bank accounts, each in a different base currency. I never look forward to reconciling his bank accounts!