Google Finance Cbl - Financial Steps

Google Finance offers a function called `=GOOGLEFINANCE()` that can fetch current and historical market data directly into Google Sheets. One of the available attributes for this function is “cbl,” which stands for Currency Balance Last. However, its behavior and reliability have been a point of contention and inconsistent reporting among users.

In theory, when applied to a currency pair, `=GOOGLEFINANCE(“CURRENCY:USDEUR”, “cbl”)` should return the most recently available or last traded bid price for that currency pair (USD/EUR in this example). This represents the amount of the quote currency (EUR) you would receive for selling one unit of the base currency (USD).

Problems and Caveats:

Inconsistent Data: Many users have reported that the data returned by the `”cbl”` attribute is often inaccurate, outdated, or simply missing. The values may not align with real-time market prices or even other sources within Google Finance itself.
Unreliable Updates: The refresh rate for the `”cbl”` attribute can be unpredictable. It may not update frequently enough for time-sensitive trading or analysis, making it unsuitable for applications requiring up-to-the-minute data.
Documentation Deficiency: Google’s official documentation provides limited detail about the specific data source, update frequency, and limitations of the `”cbl”` attribute. This lack of transparency makes it difficult to rely on the data with confidence.
Potential for Deprecation: Given the inconsistencies and lack of documentation, there’s a risk that the `”cbl”` attribute could be deprecated or removed from Google Finance without prior notice.

Alternatives and Recommendations:

Due to the inherent issues with `”cbl”`, consider these alternatives for accessing currency data in Google Sheets:

`”price”` Attribute: The `”price”` attribute within `GOOGLEFINANCE()` generally provides a more reliable and frequently updated quote for currency pairs. It’s often a better choice than `”cbl”`. Example: `=GOOGLEFINANCE(“CURRENCY:USDEUR”, “price”)`
Importing from External APIs: Services like Alpha Vantage, Finnhub, or other financial data providers offer APIs that can be integrated with Google Sheets using the `IMPORTDATA()` or `IMPORTJSON()` functions. These APIs typically provide more accurate and real-time data, though they may require registration and API keys.
Using Google Apps Script: For more complex data retrieval and processing, Google Apps Script allows you to write custom functions that fetch data from external APIs and integrate it directly into your spreadsheets. This offers greater control and flexibility.

Conclusion:

While the `”cbl”` attribute in Google Finance’s `GOOGLEFINANCE()` function might seem like a convenient way to retrieve currency balance last data, its unreliable performance and lack of documentation make it a risky choice. It’s generally advisable to explore alternative data sources and methods to ensure the accuracy and timeliness of currency information in your Google Sheets spreadsheets. Prioritize using the `”price”` attribute or leveraging external APIs for more dependable results.