Is it a bug or am I stupid?

[Amazone]

I transferred Money from my GBP account to my Euro account.
Transfer gives me this screen:

MM1.png (19.97 KiB) Viewed 459 times

My bank gives exchange rate 1.152253 this corresponds to 1/.867865
I use the button next to the exchange rate and the rate is changed to the 1.152253:

MM2.png (24.01 KiB) Viewed 459 times

But the total is now wrong???????

[Campbell]

This is working as expected, it's just that your bank is giving you the rate in GBP/EUR which is a non-standard way of giving rates between Sterling and Euro. Normally this currency pair is provided as EUR/GBP, meaning Euro is defined as the primary/base currency and Sterling as the quote currency (how many GBP do you get for 1 EUR).

Maxim Money always displays rates in standard notation. This is defined by the currency priorities (see Static Data > Currencies, and sort by Priority).

If you are entering both the amounts on the transfer, Maxim Money will display the calculated rate, based on the standard quoting. As you have discovered, you can click on the invert rate button to verify the rate given by your bank corresponds to the calculated rate, just be sure to click it back before you save.

Alternatively, if you only know the rate and one amount, you can enter the known amount, enter the inverted rate you have, then click on the invert button to calculate the correct amount for the other account

It's possible you could change the priorities in the currency static data, which would then always display the rate as GBP/EUR instead of EUR/GBP. However I wouldn't recommend this, as it may mean downloaded rates are interpreted the wrong way around. If seeing the rate this way around is important to you, perhaps I can add an option in the future to display rates inverted?

[Amazone]

OK but I find it strange.
I would expect the invert button not to change the amount.
Where does the 4773,26 come from????

[Campbell]

The invert button inverts the rate and then applies that rate to the amount using the existing currency priorities.

It is designed for the situation, much like you have, where you receive an inverted rate and want to key that in, then convert it to an standard rate.

The 4,773.26 comes from 5000 / 1.152253, because you're effectively saying 1 EUR is worth 1.152253 GBP.

I think you were hoping the button would allow you to change whether the applied rate was EUR/GBP or GBP/EUR, rather than simply inverting the amount, and I can see the value in that. Do others think that would be a better use for it?

[Amazone]

I think you were hoping the button would allow you to change whether the applied rate was EUR/GBP or GBP/EUR, rather than simply inverting the amount, and I can see the value in that. Do others think that would be a better use for it?

Yes I was.

Can I ask you what the use is of the way it works now?????

[Campbell]

Well, it's for your scenario, it just works in a slightly different way.

You have 5000 GBP. You want to transfer this to your EUR account. You go to your bank and they say the rate is 1.152253.

The current way:
You enter 5000 in the GBP field, then enter 1.152253 in the rate field. This interprets the rate as EUR/GBP and calculates a EUR amount of 4,773.26. You then click the Invert button to change the inverted rate to standard, which sets the rate to 0.867865 and the EUR amount to 6,337.39.

The way you are proposing:
You enter 5000 in the GBP field. You click the invert button which changes the field from EUR/GBP to GBP/EUR (and I could get it to remember this setting so you don't have to do it each time). You then enter the inverted rate of 1.152253, which sets the EUR amount to 6,337.39.

So both options amount to much the same thing, it's just the first way keeps the rates as standard, whereas the second way would effectively remember the inverted rate as being your preferred option.