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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33
votes
4answers
9k views

How common is counterfeit money in circulation?

I've noticed recently that several places where I paid with a $20 bill, the cashiers used a small marker to detect whether the bill was counterfeit or not before accepting it. Like so: I saw this ...
5
votes
4answers
1k views

Are there any countries where citizens are free to use any currency?

It seems like most countries restrict the citizens to the use of the government currency for exchanging goods. I'm not a world traveler so maybe there is a country where this is not the case. Does ...
3
votes
1answer
52 views

Does anyone have experience with Community Exchange Systems?

I am interested to know if anyone has participated in a Community Exchange System, where the currency of exchange of goods and services is completely information-based - in other words, there is not ...
4
votes
2answers
939 views

Looking for online sources for historical currency data / exchange rates. Recommendations?

Is there any online service that provides (in any format whatsoever) historical foreign exchange rates, with bid/ask values? Intra-day would be preferred, but end-of-day is also of interest.
39
votes
14answers
5k views

Do Americans really use checks that often?

That might sound a bit silly to people from USA but is it really that common to use checks in America? I am from Austria and here (Austria, Germany, Switzerland) checks play practically no role in ...
10
votes
9answers
6k views

Should I stockpile nickels?

As the US dollar continues to be devauled the metal content value of US coins will eventually be worth more than the face value of the coins. There use to be silver in US coins but due to the ...
44
votes
10answers
4k views

Are you preparing for a possible dollar (USD) collapse? (How?)

After the last crisis it was easy for many to look back and say all the signs were there to indicate an impending crisis. Super-low interest rates from the FED, no down-payment loans, interest-only ...
8
votes
4answers
351 views

What happened to the $1 coin in US?

The US, like Canada tried to introduce a $1 coin awhile back to reduce minting costs of the $1 paper bill. This was successful in Canada but not so much in the States. Why was it not widely adopted? ...
6
votes
1answer
724 views

What is the least valuable unit of actively used currency that is coined or printed?

Another question about the potential for giving up on pennies made me wonder. What is the smallest (in terms of value) unit of currency that has a minted coin or printed bill that is in active use ...
10
votes
4answers
370 views

I've heard pennies are being phased out in Canada. Is this true?

If so, will it affect how retailers price items? Will they round up?
6
votes
1answer
592 views

Currency values: Are there names for the parts before and after the decimal point?

What is the collective name / term given to the part of a currency value before and after the point? e.g. $123.99 So in the example above I'm after the name of the part '123' and the name of the ...
6
votes
5answers
308 views

When going abroad, how do you take your money?

When going abroad, how do you take your money? All hard cash? Some travellers cheques? I guess you could use your normal current bank account, but the UK banks (at least my one did) charges fees all ...
6
votes
1answer
113 views

What investment strategy would you deduce from the latest article from Charles Munger?

One of the most interesting article I read in the last months was from Charles Munger (vice chairman of Berkshire Hathaway). Here is a link: http://www.slate.com/id/2245328/pagenum/all/ I would be ...
4
votes
1answer
227 views

Should I change money from Euros (EUR) to Sterling (GBP) before I go away near the end of the year?

I 'have a friend' who is going away traveling towards the end of the year. She has a few thousand Euros which she is going to spend whilst she is away and was asking if she should keep it in Euros or ...
9
votes
4answers
493 views

When will Canada convert to the U.S. Dollar as an official currency?

(note I really don't want this to sound argumentative, I'm genuinely interested. The title is simply a follow up to this question and my answer. To the Canadian users of this site, would you agree ...
11
votes
6answers
3k views

When will the U.K. convert to the Euro as an official currency?

When will the United Kingdom switch to using the Euro? The main group of European countries have adopted it as a common currency and it appears this is the future direction. If not, what are the ...
4
votes
2answers
254 views

How does the price of oil influence the value of currency?

It's been said that currency markets are affected by the price of crude oil. Currencies such as the U.S. Dollar typically react to the rise and fail of the price of this commodity. Why are they ...
35
votes
4answers
10k views

It is legal for a retailer/store or other business to refuse $50 & $100 bills or other legal tender, e.g. pennies?

I'm trying to find out about businesses refusing $50 & $100 bills. Aren't they required by law to accept all legal tender? I had one person say it could be that it's not all legal (i.e. a ...
11
votes
4answers
4k views

How do currency markets work? What factors are behind why currencies go up or down?

How do currency markets work? What factors are behind why currencies go up or down? What roles do governments, central banks, institutions, and traders have in the process?