Question about monthly and yearly currency exchange rates

HMRC has currency exchange rates for (i) monthly rate (ii) average yearly rate published on 31 Mar (iii) average yearly rate published on 31 Dec I bought and sold several overseas securities for several times in a tax year, and need to file Capital Gain Please advise which of the below, 1 or 2, is correct? 1. I can choose only one of the (i), (ii) or (iii) above to calculate the purchase prices and disposal prices for a tax year, OR 2. I can mix and use any of the (i), (ii) or (iii) above for each individual purchase price and disposal price in the same tax year. (i.e. use (i) for calculating the purchase price of one security, and (ii) for calculating the selling price of the same security, when reporting CG in the same tax year.) Also, is there any guidelines for using the (i) and (ii) and (iii) above for calculating and reporting CG ? Thanks.

Hi,
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal. For your convenience, there are exchange rates at:-
Exchange rates from HMRC in CSV and XML format
and for older rates at
Exchange rates from HMRC in CSV and XML format.
You are free to use any of the supplied rates or one of your own choosing. 
Thank you.

So, is it true that I can mix the use of the rates in the above links in the same tax year when reporting using Self Assessment? (Refer to my question 2 above). Thanks.

Hi
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal. 
You are free to use any of the three rate HMRC provides, or you can use a rate obtained elsewhere, such as a newspaper or the London Stock Exchange.  
For your convenience, there are exchange rates at: 
Exchange rates from HMRC in CSV and XML format
For older rates at: 
Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009
You are free to use any of the supplied rates or one of your own choosing 

 

I would take the above reply as a "Yes" to my question posted above related to whether I can mix the use of the rates of the links provided. Please correct me if I am wrong.

Please ignore my above message. All clear now. Thanks.

Hi,
You are correct.
Thank you.

I have a lot of stock trades which are calculated in USD. As it is mentioned in this post that I can mix the use of the "yearly average" and "monthly average" for CGT report. I have tried to apply a lower rate during my stock purchase and a higher rate during my stock sell. I apply this rule even if it is a day trade. This lower down my profit and increase my loss. If I apply only the monthly average exchange rate, my calculated profit is 2000 pound. If I mix the exchange rate (monthly average and yearly average), my calculated profit is -8000 pound. For CGT reporting within the same tax year, can I really mix the exchange way in the way I like ? Even for yearly average, I find that I can find two different exchange way which cover different period within the same tax year. It means that I am able to choose 3 exchange rate for a particular trade date to create the benefit I like. I have tried to apply 3 exchange rate and my calculated profit is -12000 pound. This is a big difference. Thank you, Eric

Hi ,
 

You can use any of the rates as long as they are in the correct tax year . Thank you .