Account Statements
Given that Account Statements are almost always issued with a Statement Date in the past, Arch will extract the foreign currency and convert it to USD based on the conversion rate as of the Statement Date on the document. For example, if Arch receives an account statement on 4/25/24 with a statement date of 3/31/24 with a valuation of 2,000,000 Euros, Arch will convert the 2,000,000 Euros to US Dollars based on the conversion rate on 3/31/24 using the rate provided to us through exchangeratesapi.io.
Cash Flows (Capital Calls & Distributions)
Given that Cash Flow Notices typically have due dates/distribution dates in the future, Arch will extract the foreign currency and convert it to USD based on the conversion rate as of the Date of Receipt of that respective notice. For example, if Arch receives a capital call notice on 1/10/24 with a due date of 1/24/24 for 40,000 British Pounds, Arch will convert the 40,000 British Pounds to US Dollars based on the conversion rate on 1/10/24. For Stock Distributions, Arch leverages the price listed by Yahoo Finance if the amount is not shared on the notice.
If you navigate to the activity page in the Arch portal for an Account Statement or Cash Flow Event, you will see a tool tip in green which indicates the conversion rate used to convert the amount(s) on the notice to USD. Please refer to the screenshot example below:
