For questions related to currencies or foreign exchange markets. Ideally, this tag should be accompanied by specific currency tags under discussion.

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2answers
66 views

How to make use of EUR/USD fluctuations in my specific case?

I live in the Euro zone, and my main bank account is here. However, I also have a USD bank account located in the USA. I don't usually pay attention to the currency exchange market, but looking at ...
0
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1answer
43 views

USA: Foreign currency savings, trades and tax implications

I have a question on the tax implications on my foreign currency savings and currency trades. I moved to the USA in 2014 on an 3-year visa and am tax resident for part of the year. Following my move I ...
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1answer
51 views

What is the real exchange rate?

I am surprised by what I'm seeing with these different search engines when looking for the CAD-INR exchange rate. All of these were searched within a minute of each other. Bing (and Yahoo) Google ...
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1answer
31 views

Stock portfolio value & profit in foreign currency

Currently, I'm implementing currency exchange feature, for a stock market portfolio app. I had faced the following obstacle. In 2008, I bought a stock priced USD 1, using currency MYR. 1 USD is 3 ...
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0answers
37 views

What are some recommendations to ensure that I get the best deal when converting my money from USD to CAD?

Currently, I work for a US start up and I'm paid on the 15th and the 31st salary. I think its great that I receive the industry standard in USD instead of CAD. The money enters a USD chequeing account ...
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12answers
8k views

Is there a reason why someone shouldn't buy into a temporarily cheap currency of an otherwise solid economy?

As everyone knows, the ruble is falling compared to the euro and it has been falling for a long time already. The way I see it, the ruble will eventually get back up once the political situation ...
7
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2answers
60 views

Earning in a declining currency but foreign currency liabilities, what strategy assuming exchange rates continue to decline?

I earn in euros, but have sterling and dollar liabilities that need to be paid monthly. Assuming the euro will continue to decline against these currencies, is there anything I can do to protect or ...
4
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1answer
91 views

Tax implications of currency exchange between friends?

I am a US and French citizen and have bank accounts in both countries. One of my friends is a Permanent Resident in the US and also has French citizenship, with bank accounts in both countries. I ...
2
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1answer
36 views

How to bet that INR will gain in value

If I want to bet that in the next 3- 5 years, under the new government, the INR will recover most of its values against USD (a.k.a 1 USD = 50 INR), what investment/trading/betting options are ...
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2answers
50 views

How do companies protect employees' income from currency flucturations? [closed]

Say you are an export-oriented company, selling products abroad and receiving income in some (nominally stable) basket of currencies. Now let's suppose your own domestic currency, the one you use to ...
3
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1answer
132 views

Will I get taxed on withdrawals from Real Cash Economy games?

I'm a Dutch (from the Netherlands) player of a game called Entropia Universe. Entropia Universe is a game owned by MindArk. MindArk is a company located in Sweden. Entropia Universe is a game that ...
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2answers
49 views

Is there a graphic or dataset way to campare the performance of the main currencies over the years?

Is there a graphic or dataset way to campare the performance of the main currencies over the years? I mean a graph that allows to compare many currencies on the same chart, and not two currencies at ...
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1answer
84 views

Why HKD-USD conversion rate has been so stable for years?

I reviewed the HKD-USD exchange rate and found it quite stable for years no matter what "big events" happened. Why so?
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1answer
41 views

Using the online broker as a currency converter

As a Canadian citizen who often needs to change back and forth between CAD and USD, the common options are usually the banks and the airports. To save on high conversion fees (a.k.a wide spreads ), ...
0
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1answer
62 views

What is the best way to move money to the US from Brazil?

I just got married and my wife is moving with me to the US. We have been living in Brazil together for 2 years and have some savings. What is the best way to move $10.000 to $15.000 to a US account ...
2
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2answers
88 views

Legality of facilitating currency exchange between private accounts

I have accounts in India and the UK. Similarly, a friend has an account in each country. If I am in need of some money in GBP, I could receive money in my UK account from my friend's UK account. I ...
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1answer
90 views

fastest way to move USD to EUR

I have the following situation wrt revenue from online business that I transact funds are coming in to my PayPal account in EUR & USD funds are coming in (currently) via a US payment provider in ...
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1answer
64 views

How to manage currency risk in international investing

Exchange rate fluctuations can wipe out or augment your return from a foreign stock investment. Is there any way to protect yourself from such risk?
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1answer
43 views

How can one take delivery on the FOREX market?

I am trying to understand a little bit about the currency market. Lets say I have $10,000 dollars in cash and I am trying to buy 8000 Euros with it. Now when I take delivery, what does that mean? Can ...
2
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1answer
377 views

Does a falling dollar mean doom for real estate?

The Aussie dollar has started its downward trend and is predicted to go down to USD 70 cents. I was planning on purchasing a property for myself to live in. However, members in public forums are ...
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0answers
151 views

Why the euro has been stronger than the dollar? [closed]

I do not understand the relation Dollar - Euro. The US economy has been stronger than the euro in the last 10 years. If so, why has the euro been stronger than the dollar? If I understand well, what ...
7
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1answer
2k views

USD destroyed in a fire

After seeing some cash destroyed in a fire in a popular Netflix TV series, I wondered what would happen if someone's cash was destroyed in a fire. Assuming you had some way to prove that the money ...
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6answers
2k views

Which currency is cheaper for another currency?

Suppose that I want to buy something in GBP (pounds). How do I determine whether which costs less: CAD (Canadian Dollars) or HKD (Hong Kong Dollars) or USD, all three of which I possess? First, ...
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4answers
102 views

How does the value of an asset (valued in two different currencies) change when the exchange rate changes?

Suppose an asset is traded on two different exchanges in different countries having different currencies. In an ideal world without transaction costs, tariffs, taxes or delivery costs etc, the price ...
3
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1answer
337 views

Legality of purchasing uncirculated bricks of USD

What is the legality of "purchasing" an uncirculated brick of bills similar to one like this: 100 NEW $2 Bills Uncirculated Consecutive 2009 Notes BEP Would it be possible (and cheaper) to simply ...
3
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2answers
73 views

Choosing currencies when using credit card on vacation

I use a Canadian Mastercard to pay at restaurants, etc. while on vacation. As a example, I recently made a transaction in Dubai, where after inserting my card and entering my PIN, I was asked about ...
2
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1answer
209 views

Gift tax on currency exchange with friend?

I have a friend who is moving from the UK to the US for studies. She intends to transfer her money in the UK (~20K GBP) to the US for personal maintenance. I have a brother who will be starting ...
3
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0answers
171 views

Is there a country currency, today, that has no coin variant? [closed]

I just received a wallet from China that I ordered and I noticed that there is no practical way to store coins in it. This made me wonder: Is there a currency in which no coins are actively used (so ...
1
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1answer
60 views

How do I invest in other currencies without leverage?

I am a US citizen interested in holding a small amount in another currency (euro). I would like to minimize any currency conversion fees and get a decent rate when buying the currency. I would also ...
0
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1answer
68 views

What is an effective way to convert large sums of US based investments to foreign currencies?

Considering the option of one day retiring to a different country (probably an EU country). I've done a good job saving for retirement in IRA/Roth/401K accounts primarily held in mutual funds and ...
3
votes
1answer
85 views

How to save money on currency conversion

I do business with a few companies in the United States, and as such, get paid in US currency for my services. I have a US account with my bank, but anytime that I make withdrawals from this account, ...
1
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1answer
89 views

Opening a multi-currency bank account abroad

I'm a Hungarian citizen, and currently living in Hungary. I'm planning a long holiday trip in Europe, visiting a few countries like Switzerland, UK, and Belgium. My bank account in Hungary has HUF ...
2
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2answers
93 views

How does the currency between countries relate

How does the currency and value of that currency in a country affect the currency and value of another country. For example whats does the following mean and how can it change: Costa Rica Colon) - ...
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3answers
335 views

Is Bitcoin a commodity or a currency [duplicate]

Bitcoin can be classified as a currency as it can be used as an medium of exchange or classified as an commodity given its speculative and volatile nature. What should we classify Bitcoin as ??
3
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2answers
355 views

Why certain currencies are considered safe havens in times of turmoil

Why are the Japanese Yen and the Swiss Franc are considered safe currency havens in times of turmoil, like the present crisis is Russia-Ukraine? Both these currencies have become stronger against ...
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1answer
77 views

How should I keep track of my financial assets across borders and currencies?

I'm an expat and am curious: Is there any better way out there to manage my various assets in differing currencies across borders and markets? Currently, I just use a spreadsheet, but it is becoming ...
6
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1answer
147 views

Where to categorize crypto-currencies

In Germany, crypto-currencies like Bitcoin are all over the news lately, making me aware of the fact I don't know much about them. A journalistic TV program I was watching yesterday even claimed ...
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2answers
65 views

Relation between interest rates and currency for a nation

I understand that if interest rates of a country A is higher than that of B, then that draws foreign investment from B to A thus strengthening the currency of A. In other words, a high interest rate ...
4
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2answers
64 views

Capitalize on a falling INR

Recently the INR has taken a beating. As an Indian retail investor, is there a way to capitalize on this? Assuming that the person is not in the export business. They are a salaried person earning ...
4
votes
2answers
116 views

How does the fluctuation in the foreign exchange market occur at the same time in all countries?

How does the fluctuation in the foreign exchange market occur at the same time in all countries? For example: If the U.S. Dollar depreciated, does it — and how — get automatically ...
4
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1answer
68 views

How to treat multiple currencies in global asset allocation?

Say I'm trying to diversify my portfolio along multiple asset classes and countries. Many of those assets are in different currencies. For example, I'm based in the UK and I'm evaluating a 3 asset ...
6
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2answers
775 views

Why is a coin an asset whereas a note is a liability on the Federal Reserve's balance sheet?

Can someone explain me why coins are assets and notes are liabilities for the U.S. Federal Reserve? I know coins are made from "precious" metals, but even notes are made from various materials too, ...
2
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1answer
2k views

What effect would currency devaluation have on my investments?

I am curious what effect currency devaluation has on the value of my various investments/assets. For instance, I have retirement savings in mutual funds, growth stocks, and bonds. First, let's ...
2
votes
1answer
541 views

What is the maximum amount of money I can send from the US to India per year?

I heard that there is a limit on the amount I can send. Can someone shed light on this? Also, do I have to notify the IRS if I send above a certain amount? What is the amount?
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1answer
129 views

cross-currency accounting

I am an American and pay taxes in US dollars. I have some holdings in another currency, for instance, the Euro. Obviously the funds have never been repatriated but this lack of tax event is messing ...
7
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1answer
589 views

Where do web sites get foreign exchange currency rate / quote information?

There are many web sites which provide the exchange rates between currencies. Where do they obtain this information? Is there any authoritative source from which they get this data? For example, ...
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1answer
6k views

How do multi-currency bank accounts work? What is the advantage?

I've recently read that banks are offering multi-currency accounts to their business customers. How do they actually work? Is it one bank account and the balance is available in, let's say for ...
9
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2answers
755 views

Is there a country that uses the term “dollar” for currency without also using “cents” as fractional monetary units?

I'm wondering if there exists a country that uses the specific name "dollar" for their currency, without also using the concept where 1/100 of one dollar is called a "cent". Does such a currency ...
7
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1answer
912 views

Am I exposed to currency risk when I invest in shares of a foreign company that are listed domestically?

If a multinational firm based in country A is listed in both country A and country B, and I invest in this firm as a resident of country B through country B's stock exchange, either through something ...
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2answers
1k views

Are there taxes for exchanging goods in a barter transaction?

For example, if I trade someone 10 apples for 10 strawberries, do I or my trading partner need to pay taxes? Do I need to pay taxes if I do business without using officially issued currencies? If ...