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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0
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2answers
59 views

Which technical indicators are suitable for medium-term strategies?

I'm doing some "retail forex" by (for example) exiting hydrocarbon-dependent currency and entering one weakened by parting the political union but ought to bounce back. As you see, I'm basing my ...
0
votes
1answer
79 views

Is it allowed to transfer money between countries to make profit from currencies fluctuation?

I will try to be more specific as I expect rules/taxes to be country specific. I am a French currently living in UK. I have both EUR and GBP account in each country. Because of brexit, GBP has fallen ...
0
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0answers
30 views

Steps for creating stoploss/takeprofit in Metatrader

I recently came across this article about creating stoploss/takeprofits calculations. I am trying to break the article down into steps I can do in Metatrader 4. Anyone have any suggestions for how to ...
0
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1answer
40 views

Why are stoploss values calculated from the bid when buying based on the ask?

I am trying to calculate a stop loss in Metatrader 4. I came across this example on their site. The example creates an order at the ASK price, but sets the stoploss and takeprofit based on the BID ...
4
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0answers
38 views

How to measure how the Australian dollar is faring independent of the US dollar

When I watch the finance section of ABC (the Australian one) news, they talk about how the Australian dollar is faring against the US dollar plus a handful of other currencies. The problem is, I don't ...
0
votes
1answer
23 views

Do Online Currency Exchanges' registration with the government guarantee safety and reliability?

My aunt works in Hong Kong, and must send HKD back home to Canada monthly, and convert it to CDN. She hopes to avert HSBC's Wire Transfer Fee and the Foreign Exchange Spread, and ordering and mailing ...
19
votes
12answers
10k views

How to get rid of spare change

So I have about $50 in pennies, dimes and nickels. What would you do with it? I'm asking because I don't think spending hours rolling up the change and taking it to the bank is the best/most ...
0
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0answers
22 views

Interbank Fund Transfer (Different Currency) Journal Entry

I have been having this problem for a long time. My base currency is in SGD. However, I have 2 accounts SGD Bank & USD Bank. Sometimes, I have to transfer from my SGD account to my USD account ...
3
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0answers
64 views

Why do currencies cover orders of magnitude? [migrated]

Using 1 USD as a reference, most currencies are within an order of 5 away from the USD: that is, one unit of most currencies is worth between 0.2 USD and 5 USD. (Source.) In fact, most European ...
8
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1answer
2k 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, ...
2
votes
3answers
6k views

How to know when to buy british pound

I will have to pay a tuition fee of 6000 British Pound by the end of August and I own Euros. How can I decide if I should convert my currency now or if I should wait a few months. I have absolutely no ...
2
votes
3answers
164 views

Easiest way to diversify savings

Finance has always been a bit of a black art beyond current and savings accounts, so I'm hoping this makes sense. In light of the possibility of Britain leaving the EU (that isn't the actual reason, ...
2
votes
1answer
218 views

Which risk did I take winning this much?

This morning I made more than a thousand dollars on a position that the Japanese Yen was going to be strong. It seems that the estimate was correct, but I made much more money than expected. I more ...
10
votes
6answers
575 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? ...
0
votes
1answer
40 views

Buy Php in Malaysia and sell to Philippines

I am a Filipino working in Malaysia. I went to the remittance center yesterday, the exchange is MYR 1 = PHP 11.20. I noticed the buy/sell board table. Buying Php for MYR 8.52, Selling MYR 8.98. I do ...
3
votes
1answer
1k views

How can I determine the exchange rate and fees that were applied to an international wire transfer?

I received a wire transfer from Europe a while ago. The money was sent as EUR and converted into USD by HSBC. Since the incoming transaction showed an amount that was around 3% less than expected, I ...
1
vote
1answer
78 views

Taxation of foreign currency arbitrage

I live near the border with Mexico have found a way to make some money trading currencies when I go over for the afternoon. Basically, I can withdraw money in pesos at an atm machine from a checking ...
7
votes
7answers
2k views

Why don't banks print their own paper money / bank notes? [closed]

The fractional reserve system benefits the banks immensely, according to the documentaries I’ve been watching recently. However, I began wondering why they don’t get into the paper business too. If ...
1
vote
1answer
72 views

Currency forecasts for ordinary people

I'm in a situation where I earn money in one country and have debts in another, and/or intend to relocate there eventually. Thus, at some point I'll have to transfer my earnings to another currency. I ...
0
votes
2answers
114 views

Maker taker fees - can somebody explain in plain english?

I'm interested in learning about how trading works, but this is all very new to me so bear with me. (I'm just poking around at this point, obviously nowhere near ready to actually be trading) Some ...
0
votes
0answers
26 views

Why is currency considered as Fed's liability? [duplicate]

I understand that Reserve is Fed's liability because it's owing money from the banks. But I don't understand why currency is Federal Bank's liability. Is it saying that all the currency in circulation ...
3
votes
1answer
56 views

Moving to Europe, savings in the US, alien both in Europe and the US, trying to maximize exchange rates

This question has several parts, but the underlying story is the following: I currently live in the US, I am moving to Europe (specifically, France) in a couple of months, for at least two years. I ...
1
vote
1answer
36 views

Direct access to the currency exchange market

It is now fairly common for "lambda" users to have direct access to the stock market, i.e., see the book of order (up to a given depth), place a buy or sell order, cancel an order, etc. The bank or ...
1
vote
2answers
60 views

What foreign currency exchange rate is applied at cash machines

I recently came back from Auckland and China . Prior to withdrawing cash from ATMs , the currency exchange sell and buy prices give an estimate price. I wonder how much € exactly will 100 NZD cost. ...
-1
votes
2answers
129 views

What is the impact if there are so many millionaire in the USA? [closed]

From what I understand, the number of millionaires are increasing in the USA, but also the poor people as well. If most millionaires keep the money in the bank, how can there be enough cash flow for ...
2
votes
2answers
115 views

How do I bring money overseas?

I am Australian and am going to Malaysia in a few weeks. Now obviously I would like to bring some money with me so I can buy things like food and the such. What would be the best way to go about ...
9
votes
5answers
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, ...
1
vote
0answers
53 views

How long is a bill in circulation between stops at a bank? [closed]

I'm curious if there are any studies about how many hops cash usually takes between being at a bank. The thought experiment I'm looking at is if every bank recorded the serial numbers of the bills ...
6
votes
2answers
675 views

How can I cash out my prepaid cell phone?

As a very frugal person, I have a prepaid phone plan that costs $100 a year. For the past two years, I've spent roughly $50 of that each year. As long as I renew the plan with another $100 every year, ...
2
votes
1answer
108 views

Why is there two currencies in Venezuela's money?

If you go to DolarToday you will find the real actual foreign exchange of currency between BsF (Bolívares fuertes) and American dollar. However, in other places you will read that the exchange is ...
1
vote
0answers
34 views

US tax question, sold foreign stock and after some time repatriated the money. How do I handle currency fluctuations?

I, a US citizen sold some foreign stocks. But could repatriate the money to US after a while. In that time the currency moved substantially. How do I account for currency fluctuations? My Schedule D ...
14
votes
3answers
2k views

Why do people buy US dollars on the black market?

I was reading news articles about people in Venezuela and Iran getting a poor exchange rate for US dollars on the black market. Why do these people need to buy dollars? Why is it still worth while ...
1
vote
1answer
2k views

What is forward selling in terms of exchange rates?

We are selling some custom made products which we need to buy materials for in different currencies e.g. 100 USD + 50 EUR + 20 SGD, and we sell the products in a currency that our customer prefers e.g....
0
votes
1answer
114 views

Ways to take advantage of high/low currency prices

Currently 1 USD can buy around 0.88 EUR which is historically quite high (a few years ago it used to be 0.6-0.7). I live in The Netherlands and therefore use euros as a day-to-day currency. Now that ...
0
votes
2answers
68 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 ...
38
votes
4answers
13k 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 ...
9
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2answers
3k views

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

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, ...
0
votes
1answer
80 views

Change rates between RMB and U.S. dollars for money transfer between China and U.S

Let R_1 be the change rate from RMB to US dollars when transferring money from China to U.S., and R_2 the rate from US dollars to RMB when transferring money from U.S. to China. Are R_1 and R_2 ...
-1
votes
3answers
139 views

How can an individual trade currency directly and get the market rate?

If i needed to transfer 350000 pound into dollar, i could: 1) Go to bank / airport kiosk and exchange there (crappy rate) 2) Go through a FOREX broker (closer, but is this the official rate?) Or ...
1
vote
2answers
65 views

How does FOREX trading work? trading vs exchanging

If I was to trade on the foreign exchange market as an individual investor and I bought 100 USD with my 70 GBP. Have I essentially converted my currency similar to exchanging the currency in a bank ?...
4
votes
3answers
498 views

How do you go about buying currency futures for foreign currencies?

I was interested in buying currency futures for some foreign currencies. How do you go about getting these? I am looking for 6 to 12 month futures.
8
votes
2answers
252 views

Is there a comparison site for foreign money exchange vendors?

Is there a comparison site for foreign money exchange vendors? When I travel internationally, I find that some of the vendors can charge different types of commissions and the rates vary wildly. ...
1
vote
1answer
916 views

Invest as dollars in India

I resides in India (currency:Rupees).I have my payment from a US based company in dollars.They sent me the amount via Paypal.Paypal converts the payment to rupees while transferring to my Indian bank ...
1
vote
4answers
163 views

How to invest in a currency increasing in value relative to another?

I would like to make a mid to long term investment in a currency that i think will rise. The NOK is currently very low due to low oil prices, and i would like to invest in it rising, as it seams ...
0
votes
1answer
41 views

Federal Reserve Notes vs Coins [closed]

More of a two part question. In the current system (Fiat only currency), why is a Federal Reserve Note booked as a liability (on the Fed balance sheet), but a Coin is not booked as a liability by the ...
-1
votes
1answer
45 views

How can I find out how much a currency is traded? [closed]

I am interested to find out which currencies are the highest traded. For instance, if someone travels from the UK to the US (as a tourist) and converts pounds to dollars, or a company that deals with ...
3
votes
3answers
5k 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 ...
6
votes
5answers
857 views

Layman's guide to getting started with Forex (foreign exchange trading)?

How should I get started with Forex (foreign exchange trading)? How should I prepare myself for it? Please give your answer thinking of me as a layman.
1
vote
1answer
140 views

Gnucash: How to track similar expenses in two currencies appropriately?

Suppose that someone spends most of their life in one country with currency X, and a few years in another country where they have currency Y. Let's suppose also that the person earns a similar income ...
0
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0answers
21 views

How to understand currency forward rates?

So I am trying to understand future "fair price" currency rates from forward rates as quoted, say, here. To make things concrete, I read: bid ask EURUSD 10Y FWD ...