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.
34
votes
1answer
2k views
How can I invest in country A to take advantage of their great interest rate while I live in country B?
If I live in the US, for example, where current interest rates are practically nil, how can I take advantage of the fact that interest rates in Australia are almost 5%?
11
votes
1answer
156 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 ...
10
votes
6answers
262 views
Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades?
I've been recently looking at some of the online (electronic) foreign exchange brokerages out there, mainly out of curiosity. However, swamped by the choice, and despite having a somewhat decent idea ...
10
votes
2answers
281 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 ...
10
votes
3answers
494 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 ...
9
votes
4answers
752 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?
8
votes
2answers
194 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 ...
8
votes
3answers
348 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% ...
8
votes
3answers
372 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
1answer
244 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 ...
8
votes
3answers
861 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
1answer
110 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. ...
7
votes
3answers
463 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?
...
7
votes
2answers
127 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 ...
7
votes
2answers
102 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 ...
6
votes
3answers
2k 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
4answers
582 views
Investing in foreign CDs, is it worth the risk?
I heard Clark Howard talking about foreign currency CDs, and so I looked and indeed their interest rates are much higher than US rates right now (3.75% for a year in Australia).
What risks are ...
6
votes
4answers
175 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 ...
6
votes
3answers
228 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?
6
votes
4answers
1k 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 ...
6
votes
2answers
438 views
How are exchange rates decided for each country?
Currently, EUR/USD is 1.32395. I understand that this means I will require 1.32395 USD to buy 1 EUR. But, how is this rate determined? I also, understand that there are fundamental reasons which ...
6
votes
2answers
307 views
Why would a central bank or country not want their currency to appreciate against other currencies?
From Investopedia:
Pegged Rates: Pegging occurs when one country directly fixes its
exchange rate to a foreign currency so
that the country will have somewhat
more stability than a normal ...
6
votes
3answers
1k views
Where can I trade FX spot options, other than saxobank.com?
An FX spot option is a call/put on a FOREX currency pair that has a
user-set strike price and expiration date. It's traded
over-the-counter and is not a standardized exchange-traded option.
If you ...
6
votes
1answer
65 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 ...
6
votes
1answer
277 views
Most cost effective way to regularly transfer funds from the US to the UK?
I've recently moved to the US, but I still own a house and a car in the UK so I need to make regular transfers from the US to the UK in order to pay my UK mortgage. Admittedly I've left it a little ...
6
votes
1answer
62 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 ...
5
votes
3answers
398 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 ...
5
votes
3answers
94 views
Where can I find announcements of official GDP figures for the US and other countries?
Specifically, I'm looking at the Forex markets, and I'm waiting for today's US GDP figures. I'm keeping an eye on the financial papers, but where can I find official sources of information, maybe as ...
5
votes
3answers
172 views
Strategies for saving and investing in multiple foreign currencies
My wife and I are both expatriates and our financial situation is complicated by having accounts in different currencies. A frequent topic between the two of us which accounts are the best for keeping ...
5
votes
2answers
130 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 ...
5
votes
2answers
281 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 ...
4
votes
4answers
302 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 ...
4
votes
3answers
304 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.
4
votes
1answer
47 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 ...
4
votes
2answers
353 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.
4
votes
1answer
122 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 ...
4
votes
1answer
102 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 ...
4
votes
1answer
1k 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 ...
4
votes
4answers
754 views
forward foreign exchange rates
Is there anywhere online I can lookup forward rates for foreign exchange? Preferably this would include historic rates too.
4
votes
1answer
185 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 ...
4
votes
1answer
50 views
How can I observe exchange rates?
I need a lot of Euros because I frequently travel to European countries. Therefore, I always have an amount of Euros at home and from time to time I exchange a large amount of Euro. To save some ...
4
votes
2answers
160 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 ...
4
votes
1answer
965 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, ...
3
votes
2answers
145 views
What college degree should I pursue to learn about stock and forex markets?
What college degree should I pursue to learn the fundamentals of the stock market? Are there way to understand how stocks and foreign exchange markets work, including their strategies and drawbacks?
3
votes
3answers
153 views
Forex vs day trading for beginner investor
In essence, for a person that has not had any real experience with either (except for playing around in simulators like investopedia):
which one would an individual have the most potential to ...
3
votes
1answer
732 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
151 views
Which forex brokerage should I choose if I want to fund my account with over a million dollars?
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 ...
3
votes
3answers
90 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.
3
votes
1answer
94 views
Historic prices for currencies, commodities,
In a related topic, someone asked for historic prices of stocks. It was pointed out that http://finance.yahoo.com/ and http://finance.google.com/ feature historic stock prices, downloadable in .csv ...
3
votes
1answer
109 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? ...
