When you submit a Cash Transfer from AUD to USD, you will be shown an Estimated Foreign Exchange (FX) Rate which will provide an indication of the estimated amount in USD you will receive at the time of conversion. The FX rate includes a 60 basis point spread as part of the conversion from AUD to USD and vice versa. Click here to find out more information on the FX rate.
For the above example. A client is attempting to convert $1,000.00 from AUD to USD. Once processed, the return shown in the USD cash account will be $769.29 USD as an estimate. This is prior to the conversion being finalised at 2:00pm on that business day if submitted before 9:00am. Click here to learn more about this process.
When you view your 'Net Portfolio' on the Dashboard, it will use the value of $769.29 USD and provide an approximate AUD valuation based on a currency conversion back to AUD. The rate supplied is the same for the USD to AUD transfer. This rate also includes the 60 basis points fee as indicated in the Foreign Exchange article as this would be included if you were to transfer from USD back to AUD.
For our example, you can see that when you submit a conversion of the amount back from USD to AUD, it shows $984.61 AUD from this conversion. As such the Net Portfolio value would not be displayed as $1000.00 AUD, but as $984.61 AUD.