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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3
votes
4answers
438 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.
2
votes
3answers
341 views

What extra charges and fees will I be billed for an international credit card transaction?

I've never traveled abroad in the past. I live in the US, and am taking a vacation shortly to Italy. At this time, I'm trying to understand what additional fees will be incurred if I attempt to use ...
7
votes
6answers
2k views

Best way to buy Japanese yen for travel?

Going to Japan in about a week, and just looking for ways to buy Japanese yen. In Australia, it's pretty nuts. If you just go and exchange money from them, they'll charge you 5-6% above the mid rate ...
-2
votes
4answers
88 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 ...
0
votes
2answers
50 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 ...
3
votes
1answer
149 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
votes
2answers
59 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 ...
3
votes
1answer
2k views

Source(s) for hourly euro/usd exchange rate historic data?

I'm looking for historic data for the euro/usd exchange rate with an hourly interval. The data should look back several months. Unfortunately I have been unable to find a source providing this data, ...
2
votes
1answer
172 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
votes
0answers
91 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 ...
41
votes
10answers
3k 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 ...
1
vote
1answer
49 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 ...
12
votes
3answers
403 views

How is exchange rate calculated?

assume that there is a very new island-country called xland. they decide to name their currency xdollar and there is 1000 xdollars in circulation. the very first foreigner comes and wants to exchange ...
13
votes
7answers
8k views

How can I avoid international wire fees or currency transfer fees?

I'm paid by an American company, but travel to France frequently and need to have a French bank account for various reasons. So far the cheapest procedure I've found to transfer money is withdraw ...
0
votes
1answer
48 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
72 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
vote
1answer
62 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 ...
6
votes
2answers
500 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
votes
2answers
82 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) - ...
2
votes
1answer
379 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?
-5
votes
3answers
124 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
votes
2answers
331 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 ...
1
vote
1answer
65 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
votes
1answer
130 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 ...
4
votes
2answers
61 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
1answer
76 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 ...
30
votes
14answers
3k 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 ...
4
votes
1answer
58 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 ...
3
votes
2answers
405 views

What does the Fed do with the extra money it is printing? [closed]

Last month I read some news about the Fed printing money to devalue the U.S. Dollar compared to other currencies. But what do they do with this extra money?
0
votes
1answer
172 views

Any Way To Earn Interest On Brazilian Real [closed]

Background: US investor here. Currently, almost every country thinks that it wants a weak currency, except for a few (that have actually experienced one and found out how awful it is). For instance, ...
2
votes
1answer
1k 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
2answers
71 views

To decrease spread cost with a currency account in exchange of currencies

I have bank accounts in Nordea Norway and Nordea Finland. I pay now about 2.5% spread fee in moving NOK from Nordea Norway to Nordea Finland in EUR. No other fees apply because moved between the same ...
0
votes
0answers
28 views

Why does the value of a currency fall when compared to another currency? [duplicate]

Why does the value of a currency fall? What causes this decrease? I am from India and the value of the rupee is constantly falling when compared to the dollar. 1 dollar now equals around 69 rupees.
5
votes
1answer
279 views

How do I minimize exchange rate spread costs when shopping online?

I get my income in euros. I need to pay for stuff in USD because I use shops like Dealextreme where the base currency is USD. I have a Visa Debit card (so not a real Visa) since I am a student but ...
0
votes
1answer
55 views

What assets does the term “security” encompass?

From what I understand, the term “security,” as used in finance, refers to equities, debt instruments (such as bonds), and derivatives based on equities and debt. Does the term encompass other ...
31
votes
4answers
7k 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 ...
10
votes
2answers
632 views

FOREX: Pair Trading, What is Really Happening?

I am starting to study FOREX again and one thing about trading on the market through means available to me personally is that one can take positions on 'currency pairs'. This has made little sense to ...
2
votes
1answer
2k views

How to send money from europe to usa EUR - USD?

What's the best way for transferring money from Europe to the USA and vice-versa? With best I mean lowest fees and a good exchange rate. To the best of my knowledge banks are usually bad with both. I ...
33
votes
4answers
6k 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 ...
1
vote
2answers
889 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 ...
1
vote
1answer
117 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 ...
6
votes
1answer
367 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, ...
6
votes
4answers
219 views

How do I find a broker that is good at providing forex trading (i.e. foreign exchange / currency)?

How do I find a broker that is good at providing forex trading (i.e. foreign exchange / currency)? Where should I look to learn about what brokers have in terms of brokerage, leverage, and software ...
5
votes
3answers
2k views

How and why does the exchange rate of a currency change almost everyday?

How does the exchange rate of a currency change every day? Why does that happen? Please explain to me with a naive approach and avoiding financial jargon.
7
votes
1answer
492 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 ...
5
votes
1answer
4k 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
votes
2answers
660 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 ...
3
votes
2answers
444 views

As an investor what are side effects of Quantitative Easing in US and in EU?

If I understood well Quantitative Easing basically means a Central Bank prints out more money of its own currency. It seems simple to understand that it saves the country banks and the States by ...
4
votes
1answer
292 views

Is the $5 USD bill from Series 2006 supposed to glow brightly under ultraviolet?

So my company just changed offices recently and for some odd reason or another the server room in the new building has a black light which was installed by the previous tenants. Aside from the oddity ...
2
votes
1answer
489 views

How To Transfer Money Online So The Other Person In Another Country Receives It In Cash?

We all are familiar with famous international money transfer service - Western Union. Most use their locally available branches in their country to send money so the other person receives money in ...