To perform these steps, Login to ADBMS tool using the ResearchWise credentials.
Update Currency Details
1) In ADBMS, Navigate to Static information and locate the currency section.
2) Under currency section, select the currency from the list of available currencies and click on update.
3) In the Manage Currency screen, you will notice that fields like currency country, Currency Short name are assigned default values. Enter the correct currency country and missing Secondary currency details etc and click on update.
Create Currency Spot Rate to download prices
Once currency details are updated, you need to set up currency spot to fetch the USD exchange rate (daily price) for the currency. Currency Spot Rate can be created like any other instrument via ADBMS by following the steps below.
1) In ADBMS, Navigate to Instrument page under Instrument Section and click on New
2) Fill in the currency details such as Currency Name, Country etc in the Instrument information form. Once done, click on ‘Apply’ to create the Currency Spot Rate.
a. Primary Relative Index, Year End and Multiplier are not applicable for Currency Spot hence can be selected as Not applicable.
b. Instrument Type should be selected as ‘Exchange Rate’
c. Share price and reporting currency for the currency spot will be the currency for which spot rate is created.
3) Once the currency spot rate is created, map the FactSet vendor code.
To Map the FactSet code, navigate to Data vendor codes section in the RHS of Instrument screen and select FactSet code from the vendor name list.
4) Enter the FactSet code as Instrument code and click on update.
FactSet code is the currency code succeeded by USD. For E.g. KWD is Currency code for Kuwait Dinar, then FactSet code is KWDUSD.
5) Once Code is updated, click on Reupload Historical Data under Rebuild Tasks section to download historical prices for the currency.
The Prices are downloaded from FactSet hence ensure that FactSet code is selected under data Vendor codes.
6) System will prompt you to select the instrument sources for which historical data needs to be downloaded. Please select Closing price only and then Update.
Define Exchange Rate for the Currency
The Price downloaded for each currency is in the USD equivalent. We need to specify this in the system by using USD as destination currency for every Currency spot in Exchange rates.
1) To define an Exchange Rate, navigate to Static information and locate the Exchange rates section.
2) Under Exchange Rates, click on New to define the exchange rate for the currency.
3) Under Manage Exchange Rates screen, define the exchange rate as follows.
a. Select the new currency as source currency.
b. US Dollar as Destination currency.
c. Select the Currency Spot Rate as exchange rate code.
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