I use IB (interactive brokers). Stock XYZ is listed on both the US and Canadian stock exchange. I would like to have a little program (in excel? Or anyone has better suggestion.) that will take the XYZâs US bid and ask price and calculate the Canadian bid and ask price using the US/Canadian exchange rate ( I am thinking of using IBâs IDEALPRO (symbol USD). Is this a good exchange rate to use? ). So to summarize, this program will give the Canadian bid and ask price from the US bid and ask price based on the US/Canadian exchange rate. Can someone please tell me how to do this. Thanks in advance.
You need to make sure you use the Spot or Cash rate, not the USD futures rate. The rate you want is specifically the USD/CAD spot forex rate. I don't use IB, but I would expect if the symbol is USD, then that is USD futures, which would be wrong. Best regards! Louis