If you are an immigrant or own assets in a foreign country, keeping a track of your investments is tedious and time consuming.
Getting the complete picture involves currency conversion, spreadsheets, juggling multiple online accounts and a lot more.
Exchange rate fluctuations stress you out as you lose track of your portfolio.
Kubera natively supports multiple currencies and even crypto. In Kubera your portfolio is by default set to your local currency. Let’s call it the ‘Portfolio Currency’. By default the cost and value you enter are saved in the Portfolio Currency. But if you have assets in another country, Kubera makes it easy to track them as well. All you need to do is to enter them with the specific currency code (USD 100, EUR 100, INR 100, AUD 100 etc.). Kubera automatically converts this value to your Portfolio Currency based on the latest exchange rates, keeping the original value intact.
This allows you to easily keep track of all your wealth in a currency that is familiar to you. Your brain makes better decisions when you view your wealth in a currency that is native to you. You know exactly how exchange rate fluctuations affect your wealth. You clearly see the big picture and can take better decisions.
Bank account in another country
For example, if your Portfolio Currency is US Dollar and if you have a bank account with 750 Euros, just enter EUR 750 in the value field and hit ‘Enter’. You can see the number being converted into US dollars.
If you hold forex, seeing the updated value of your forex in terms of your local currency is delightful. For example, if your portfolio currency is INR and if you have 1000 US Dollars with you, you can enter ‘USD 1000’ in the value field and the amount you paid for it in Indian Rupees in the cost field (e.g., 75000). Kubera automatically converts the USD into INR. From then on, the value of your Dollars will be shown in Indian Rupees up to date based on the latest exchange rate.
For example, if your Portfolio Currency is GBP and you have invested USD 2000 in US stocks, just enter USD 2000 in the cost field and the stock’s latest value in the value field (e.g. USD 2500). Both cost and value will be converted to GBP along with your other investments in the United Kingdom.
You can also switch your portfolio currency to USD and back to view your wealth giving you perspectives from multiple angles.
If you have a considerable amount of investments in another country, and if you are comfortable tracking them separately, then you can simply have another portfolio in that specific currency.
In personal finance, diversification is essential. Having a well researched and smartly invested multi-currency portfolio only decreases the risk further. The only hurdle lies in tracking these assets in a familiar territory. Kubera has got your back there.
In addition to helping you manage multi-currency assets, Kubera connects to 10K+ online financial institutions across the world to automatically fetch your online portfolio and bank account balances. Click on the 3 dots on the table row, select ‘Connect Account’ from the menu and search for your investments app or bank.
Do you have Crypto?
Kubera is the only portfolio manager that can help you track both Fiat and Crypto portfolios. Read more.
Kubera helps you protect your wealth by keeping track of your net worth and storing important documents. It also ensures safe transfer of this critical information to your beneficiary, if something unexpected happens to you. Read the story behind Kubera.
Sounds interesting? Please Sign Up (on your desktop) and take our 100 days trial. We want you to take your time to carefully organize your assets, set your beneficiary and track the updates.