CG78311 - Currency: assets acquired or sold for currency

For example, if US shares are bought for US dollars in a bargain at arm's length for full consideration

• the acquisition cost of the shares is the sterling equivalent of the dollars given at the exchange rate in force at the date of acquisition of the shares;
• the consideration for disposal of the dollars is the sterling value of the shares received in exchange.

Since the transaction was a bargain at arm's length for full consideration, the sterling equivalent of the dollars is likely to be the same as the sterling value of the shares.