I have self-directed Rollover IRA account. I see a good opportunity to invest in foreign country as fixed deposit for 5 yrs. If in Indian Rupee it will earn more interest versus US$ denominations.
I have following questions in this regards:
- Can one invest self-directed rollover IRA money in foreign country ?
- If yes can it be only in US$ or is other foreign currency conversion allowed?
- If converted to INR, how to hedge against its depreciation ?
- How to report to the IRS?