In the Cayman Islands we operate in both Cayman Islands dollar (base currency) and US dollars. Despite a fixed exchange rate between the two currencies, banks offer 3 rates depending upon the tender:
Deposits of US$ cash to a CI$ bank account = 0.8 CI$
Deposits of US$ cheque to a CI$ bank account = 0.82 CI$
Purchase of US$ from a CI$ account = 0.84
So if a customer pays an account in CI$ with a US$ credit card, we credit him at 0.8, whereas if he pays by cheque we credit him at 0.82. The simplest way to set this up would be to have different US$ currencies, say US$80, US$82 and US$84 but from what I see NAV only permits a bank account to have one currency so we would be unable to make deposits from these three currencies into one bank account. Am I correct with this assumption?
Regards
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