This tag is to be used for any question related to rates between 2 pairs of currencies. If the question is generic, only this tag is sufficient. If its specific for a pair of currencies, ideally both the currency tags should also be used.

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5
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1answer
154 views

Web sites for historical foreign currency exchange rates and inflation data?

Say that I'm watching a Swedish movie from the 1970s where a bank gets robbed and the robbers get away with 10 million SEK. I might then like to know how much that corresponds to in U.S. dollars ...
0
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2answers
1k views

Why are prices in EUR for consumer items often the same number as original USD price, but the GBP price applies the actual exchange rate?

Since my store started accepting EUR payments in 2002 I often see the numerically same EUR price as the original USD price. Many international suppliers, stores, e-shops offer the same items in US ...
8
votes
2answers
2k views

Good way to record currency conversion transactions in personal accounting software?

I have deep personal financial connections to two countries, with different currencies. (They happen to be Canada/CAD and USA/USD, but I don't think that's material.) I have multiple bank and ...
6
votes
1answer
239 views

Accounting for payment into wrong currency account

I deal with clients in several countries and have two bank accounts in two currencies. Recently, I sent out an invoice with the wrong bank account number, so a client invoiced in SGD made a payment ...
5
votes
1answer
1k views

Getting a USD cheque, without too many fees, and with a sensible exchange rate?

In order to exercise a stock option, I find myself needing a USD cheque. Annoyingly, it has to be a cheque and it has to be in USD, neither a GBP cheque nor a USD wire transfer are acceptable. (I've ...
5
votes
1answer
123 views

When should currency be exchanged when traveling, if ever?

I have done several methods - but am not sure which is the best: via ATM in the foreign country via bank before leaving via bank after arriving at the airport just use a credit/debit card everywhere ...
1
vote
1answer
165 views

searching for historic exchange rate provider which meets this example data

I'm looking for a provider of historic exchange rates which fits a sample of exchange rates I have. My problem is that I have historic turnovers in GBP which I want to recalculate in EUR. All I know ...
2
votes
1answer
221 views

Most beneficial currency exchange method for Chinese travelling to USA?

I will be traveling to the United States soon. My money is all in Chinese renminbi. My understanding is that I have 5 options available for converting my RMB to USD: Buy USD from Chinese banks and ...
1
vote
1answer
1k 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 ...
9
votes
3answers
3k views

Why did the Swiss National Bank fix the EUR/CHF exchange rate at CHF 1.20?

Two questions actually: Why did the Swiss National Bank fix the EUR/CHF exchange rate at EUR 1 = CHF 1.20 as of September 2011? How are they making sure that the exchange rate stays at CHF 1.20? ...
4
votes
1answer
214 views

Investment Club - Legal Steps

This is an extension/more detailed question I asked a while ago: Legal documents required for managing an investment portfolio among friends? The main question here is do I need to create an LLC to ...
8
votes
2answers
345 views

Should I do my budgeting in dollars?

I'm from India and earn in Indian Rupees. Should I do the math on my finances in USD? The reason I ask this question is because INR lost value recently - quite a bit. So, for example, would it be ...
14
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2answers
2k 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 ...
7
votes
3answers
10k 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.
2
votes
2answers
4k views

Do I understand currency exchange rates and bank buy/sell rates?

Preface: I've just run into a bit of an issue with a bank, regarding an international money transfer that I made from the UK (with Lloyds TSB) to Australia (St. George). The transfer was sent on the ...
0
votes
1answer
199 views

What is currency trading and how does currency trading work? [duplicate]

Possible Duplicate: Layman’s guide to getting started with Forex (foreign exchange trading)? I have heard that people are investing in currency trading, but i don't have any idea about it. ...
9
votes
4answers
12k views

How to change a large quantity of U.S. dollars into Euros?

What is the best way to change $30,000 dollars from the U.S., into Euros to Europe ? Is an international bank account the best solution? If not, then what?
11
votes
1answer
262 views

WSJ article about CFDs - am I missing something?

In this WSJ article, it comments Traders held a net $22.6 billion in bets that the dollar will appreciate, a gain of 31% in net wagers over the previous week and the largest such position since ...
0
votes
1answer
139 views

Can a non-Chinese private investor bet on Chinese Yuan Renminbi (CNY) going up vs. USD?

Is it possible for a non-Chinese private individual investor to bet on the Chinese Yuan Renminbi (CNY) going up against the U.S. dollar ?
1
vote
1answer
1k views

Mastercard currency conversion rates

I was looking at a product disclosure statement, and the card charges a margin for foreign transactions above the exchange rate set by Mastercard. Does Mastercard have its own spread and how could I ...
5
votes
2answers
800 views

Tax Loss on Forex Trading

In tax year 2011, I traded in a forex brokerage account in FXCM. I had trading losses. FXCM says that they do not report 1099 for US customers. What is the proper way to report my forex trading ...
1
vote
1answer
73 views

Are England exchange rates & import prices based on the Bank of England interest rate?

Are England exchange rates and import prices based on the Bank of England base/interest rate? Basically, I just wanted to know how and if import prices and/or exchange rates in England have the Bank ...
2
votes
3answers
477 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 ...
5
votes
5answers
3k views

Are Forex traders forced to use leverage?

I heard today that all Forex traders are forced by the Forex companies to use large leverages. Is this true? I understand this might be good for some companies, but possibly bad for the traders. How ...
2
votes
2answers
227 views

How does leverage work?

Can someone give (or point me to) a concrete example of how leverage trading works? Let's say in Forex. I have $1000, and I want to short/long the Euro at a 1:100 leverage. How much do I stand to ...
2
votes
1answer
4k 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, ...
3
votes
2answers
215 views

Which forex brokerage should I choose if I want to fund my account with over a million dollars? [closed]

I'm quite experienced with stock markets (mostly NYSE and NASDAQ in fact), over 85% of my wealth comes from it. In 2012 I would like to try the foreign exchange market, can you suggest any reliable ...
1
vote
1answer
1k views

Hedging a foreign currency purchase (INR/USD) for a real estate transaction?

I'm looking to purchase a property in India, where the local currency is INR. My earnings are in USD. My down payment on this property will be in the range of 100-200k USD. The USDINR exchange rate ...
6
votes
5answers
758 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
2answers
2k views

What's the difference between Currencies and FX desks at investment banks?

I'm interested in working within FX in an investment bank, but I noticed that they listed Currencies and FX separately under Fixed Income, so I'm wondering if they actually refer to different things. ...
2
votes
3answers
2k views

HSBC Hong Kong's “Deposit Plus” Product: What is it, and what strategies to employ?

I recently opened an account with HSBC Hong Kong (I am a US citizen), and I'm exploring all of the options available to me at my new bank. One product that caught my eye is called Deposit Plus, which ...
7
votes
2answers
191 views

Price inequalities in Forex?

My understanding of forex is limited so please bear with me. I believe foreign currency rates are traded in pairs, e.g. USD vs GBP at a price set by supply and demand. Does this mean that it can ...
4
votes
3answers
420 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.
10
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3answers
7k views

When paying with card abroad is it best to pay in local or home currency?

Often when paying for something abroad using a credit or debit card I'm given the choice to pay in my home currency (GBP) or in the local currency (e.g. I'm on holiday in Thailand so THB). Which ...
6
votes
1answer
105 views

Tax due on foreign exchange element of share option program?

This is quite complicated and to be honest I'm not really expecting anyone to know the answer, but I thought it would be worth asking. Five years ago my (UK) employer's (French) parent company ...
8
votes
2answers
154 views

Does the currency exchange rate contain any additional information at all?

Pretty often I hear someone saying stuff like "The pound is worth more than the US Dollar" or "The Kiwi Dollar is worth less than the Euro". Well, technically it is correct that 1 pound buys me more ...
8
votes
3answers
711 views

Best / cheapest way to exchange USD for foreign currency cash?

I'm considering taking a trip abroad in a few months, and would like to exchange a moderate amount of money (say less than $2,500) into a couple of currencies (probably 60% Euro, 30% GBP, 10% ...
5
votes
2answers
604 views

How is buying a Canadian mutual fund also priced in U.S. dollars different from the plain fund?

Many Canadian banks (e.g. TD Canada Trust) split the same mutual fund into two options, one linked to the Canadian dollar and one linked to the US dollar. For example, the TD U.S. Index and the TD ...
8
votes
4answers
4k views

How can a U.S. citizen open a bank account in Europe?

Since interest rates are higher in the Euro zone than in the U.S., I'm exploring the possibility of opening a European bank account. For example, IND Direct is offering 3.5% on a 12-month CD, whereas ...
6
votes
3answers
491 views

How to trade “exotic” currencies?

Most Forex brokers only offer trading of the major currency pairs -- USD/EUR, USD/AUD, etc. What is the best way to trade more "exotic" currencies such as the Brazilian real and the Thai baht?
3
votes
1answer
160 views

Prepaid travel credit cards: Is there a low-cost card supporting top-up in multiple currencies, without conversion fees?

With reference to the CantonFX cards http://www.caxtonfxcard.com/cards_description.asp Which card do I use if I need to use multiple currencies at the lowest cost & I only want to carry one card? ...
6
votes
1answer
4k views

How can I check whether old foreign currency paper bills or coins still have value / considered legal tender?

Collectible value aside, let's say I have some old currency – bank notes and coins – from another country, perhaps acquired from a relative who visited many years ago. In the case of ...
11
votes
3answers
787 views

When and how should I pay taxes on ForEx trades?

I am an Israeli citizen. I've bought BitCoin (let us agree for sake of discussion it is a currency) using US dollars. Let's also assume I never convert the bitcoins to any other currency (but instead ...
8
votes
3answers
3k views

What is the best way of transferring money from American to Canadian bank?

I am a Canadian that will be working in US for some time. I will still have Canadian bills to pay, so I would need to regularly transfer US dollars from some US bank to my Canadian bank account in ...
8
votes
4answers
327 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 ...
12
votes
3answers
543 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 ...
4
votes
1answer
3k views

Does Reuters provide the 4pm London Spot rate for currencies?

The 4pm London spot rate is supposedly the standard, but I'm having trouble finding out if that's what I'm getting from Reuters. First, I understand that currencies don't have just one exchange rate, ...
2
votes
2answers
129 views

Are weekly CAD/USD options untradeable?

As below, cmegroup.com seems to indicate that CADUSD weekly options (expiring 25 Mar 2011) have absolutely no volume or pricing. Does this mean they're impossible to trade? Or, if I had a broker, ...
2
votes
4answers
380 views

If I invest in securities denominated in a foreign currency, should I hedge my currency risk?

If I live in the US and most of my expenses are in US Dollars, I consider the US dollar to be my base currency and look at the performance of my portfolio on a US Dollar basis. If I invest in a fund ...
7
votes
3answers
2k views

Get interest on $100K by spending only $2K using FOREX rollovers?

Is there any way to combine FOREX instruments to receive interest on $100K while spending only $2K? If I buy 100K USDCAD (for example), I only need $2K margin. Every night, I'm charged the ...