Questions tagged [currency]

For questions related to currencies or foreign exchange markets. Ideally, this tag should be accompanied by specific currency tags under discussion.

66
votes
9answers
17k views

Why do financial institutions charge so much to convert currency?

With all the modern technology that we have, I am astonished that financial institutions charge such exorbitant prices for currency conversions. My bank, Fifth Third, charges a 3% conversion fee, ...
0
votes
1answer
63 views

How foreign cash is beneficial for a country? [closed]

Imagine for example people of country X working abroad ( in Europe as an example) and bring home every month 3000 euro which is equivalent to 9000000 of local currency for example. How does this cash ...
1
vote
0answers
125 views

Difference between buying a NYSE-listed company in USD or in EUR

Let's say I'm a European living in Germany and a company is listed only on the NYSE in USD. On my trading platform I can buy shares of this company either on the NYSE in USD or on Xetra in EUR. When ...
0
votes
1answer
81 views

Is percentage of one owning the total money equivalent to that of total wealth? [closed]

Just a hypothesis: at a certain instance(so no inflation or deflation concerns), within a single economic entity, if one owns half of the money, does it mean he also owns half of the total wealth? I ...
2
votes
3answers
284 views

How to measure a currencies valuation or devaluation in relevance to itself

Usually when currencies are devalued, the percentage change is given in relevance to USD or EUR. Is there a way to measure the currencies change in value to itself or to all the world's currencies ...
4
votes
2answers
601 views

GBP savings, what to do with them if leaving the U.K. in about 2 years time?

I am EU citizen living in U.K. and with some savings into a U.K. bank account. I am planning to leave UK in about 2 years time, I don't need the savings right now, the savings give me on average a 3% ...
1
vote
0answers
379 views

Where can I find the European equivalent ETFs from a USD superdiversified 10 ETFs portfolio

I have been using this superdiversified 10 ETFs portfolio. To lower the risk it's composed from stocks and bonds across the globe and includes some commodities. Being in USD currency and the Euro ...
1
vote
2answers
1k views

Can we open a bank account in GBP in Pakistan

Can we open a bank account in GBP in Pakistan, I am thinking about taking 14K in GBP with me to Pakistan while flying there. I would like to buy a house for one of relative but if plan changed I ...
2
votes
1answer
76 views

How to detect currency rates changes?

I know the factors (like supply and demand) but how the economics know the value of a currency in a certain time exactly? They couldn't possibly take all the factors in the universe instantly into ...
2
votes
1answer
221 views

What should one do with extra Japanese Yen, if they're not planning to stay in Japan?

Consider an individual who: is currently working for a short period of time in Japan (~2 months), will begin working in Europe directly after, and may possibly work in the USA within the next 10 ...
4
votes
1answer
323 views

Google Finance gain value incorrect because of currency fluctuation

I'm french, and I bought some stocks in Paris and New York Stock Exchanges. I'm trying to use an online portfolio tracking tool like Google Finance, but the final gain value is incorrect because of ...
-1
votes
1answer
105 views

why the currency data(such as USD/JPY) is different from different source

I am a new guy to finance. I found that the currency rates for USD/JPY or CNY/JPY have slightly different from different source. For example: USD/JPY 2017/07/10 (1) 114.08: https://www.oanda.com/...
4
votes
2answers
2k views

Is it possible to trace the source of bills that I've collected in USA by serial number?

Last year in Las Vegas, I cashed out a couple of cash vouchers (worth around 60$) at the special ATMs located inside casinos. Finished my trip and headed back to Turkey. Then the failed coup attempt ...
0
votes
1answer
91 views

Determining the basis for capital gain [duplicate]

If the value of the US dollar is greater than what I originally exchanged it for, is it considered capital gain? If so, how do I determine the amount I gained? EDIT: For example, I traded $100 USD ...
3
votes
2answers
355 views

Is income from crypto-currencies taxed?

I'm curious to know how regulated (or unregulated) income from crypto-currencies is whether it's from mining or asset appreciation. Would you owe capital gains taxes? Is this still a very gray area in ...
2
votes
1answer
281 views

How to decide whether to receive salary in USD or CHF?

I have to choose the currency (USD or CHF) in which I will receive payments for my work in the period of 1 year. I live in Poland, I'm software developer in a startup for a company in Switzerland. ...
0
votes
3answers
235 views

What is the lifespan of a series of currency?

I traveled to Canada from the USA and as a souvenir I decided to bring some Canadian cash back with me. While I plan to keep it just as a souvenir, it made me wonder how long a currency can legally be ...
0
votes
1answer
224 views

Why would a country want to use the currency of some other country? [closed]

Indian Currency (INR) is used by Nepal & Bhutan. US Currency (USD) is used by many countries including East Timor & Panama. What advantages (& disadvantages) are there, for the "using" ...
0
votes
1answer
72 views

How does price of spot gold works in relation to foreign exchange?

What I mean by this question is when I buy gold, which currency is the price of the gold based on? So assuming I am from China and I wish to buy gold through goldmoney.com, they allow me to choose ...
1
vote
1answer
36 views

Minimizing loss during two-way currency transfers involving foreign entities

I have a software platform I developed. I am in the United States, one of my customers is in Kuwait. They charge 40 KWD for each of their customers, but we do the credit card processing through our ...
0
votes
2answers
174 views

What are the barriers to a global currency? [closed]

I am trying to understand the point of different currencies, if all currencies are just an factor away from each others, i.e. $1 Canadian = 0.7 euro = 0.75 USD and so on. What prevents a global ...
19
votes
5answers
3k views

Why are currency forwards needed?

Commonly, a currency forward is said to be useful when one has to make a payment in another currency in a future date, e.g. a European company has to pay 1 million USD exactly one year from now. It is ...
2
votes
1answer
170 views

I have a 10,000,000 Turkish bill but it's only half the bill, is it worth anything?

I have a 10,000,000 Turkish bill but it's only half the bill, is it worth anything ?
1
vote
0answers
403 views

How to keep track of daily expenses having two currencies?

I want to keep track of my daily expenses using a system as simple as possible. My current choice is to have a spreadsheet where I keep track of my budget: One page controls the monthly budget ...
2
votes
1answer
200 views

How should I understand EUR/USD stock or BTC/EUR market, what's buy? what's sell?

I am having problems to understand what buy and sell offer means, given the random pair EURUSD for instance, in context of exchange market. Does it mean I am buying EUR for USD or buying USD for EUR? ...
1
vote
1answer
122 views

How can there be a quote for EUR/USD from 1980s?

As far as I know, the euro currency was introduced some time in the late 1990s, many countries adopting it at the beginning of the 21st century. However, I've run into charts depicting EUR vs. USD ...
1
vote
3answers
571 views

Investing in Cryptocurrencies

How does one invest in cryptocurrencies? Would it be like investing in other stocks (say Google, Microsoft), or would the investor actually have to install the program on their computer and purchase ...
6
votes
2answers
355 views

Should I try to hedge my emergency savings against currency and political concerns?

I'm planning to save 15% of my income for emergencies. I live in Ukraine and I am concerned that the local currency may not be stable long-term. I'm also worried about the possibility of banks closing....
1
vote
1answer
105 views

Is the Swiss stock market inversely correlated with the Swiss Franc like Japan today?

The Japanese stock market is inversely correlated with the Yen. When Yen goes up, Nikkei goes down and vice versa. This is because the Japanese economy is highly dependent on exports. Does the same ...
8
votes
1answer
9k views

Two banks in two countries. Is it possible to have a unique PayPal account?

I am Italian living in Sweden. I have one bank account in Italy and one in Sweden. I have recently opened a PayPal account in Sweden and I have no problems in performing purchasing in SEK, but I want ...
1
vote
3answers
3k views

USD to CAD Vs CAD to USD

Why is USD to CAD more than CAD to USD? How does this work? USD/CAD close:1.35206 -->35.2% CAD/USD close:0.73988 -->27.0%
4
votes
2answers
121 views

What to do if we cannot leave a foreign country to go to India and get the currency exchanged?

My friend moved to Canada in July 2015. And has money in Indian currency notes of denomination 500 and 1000. I know that people living abroad who want to exchange the currency can come to India till ...
1
vote
1answer
507 views

Strategy for accounting personal finance in multiple currency?

I have started to budget and track my income and expenses using a simple spreadsheet. It have a better overview of where my money is going, but due to my work history I have money spread over ...
1
vote
3answers
79 views

Is the current price of a currency an average of daily orders filled?

If I google the current price of a currency while market is open. Is that (spot?/ticker?) price obtained from: The last order that was filled or A average of all orders filled that day? Or is ...
7
votes
4answers
433 views

Why do currency rates help or hurt tourists?

Using Britain and the US as examples, I often hear tourists say one of two things: British tourist: Shopping is so cheap in the US, since the pound is ~1.3 against the dollar! American tourist: ...
2
votes
1answer
56 views

Is there a financial benefit for buyers from using community currencies?

My city is introducing its own local currency, so I've been reading about similar established projects like the Brixton Pound. I understand that local businesses will benefit from it thanks to the ...
1
vote
1answer
879 views

How to record currency exchange in double entry

I decided to make my own double entry accounting program that deals with multicurrency. However, I am facing an issue in dealing with following scenario: I have two bank accounts: From: Opening ...
0
votes
1answer
66 views

How to invest in Japan's stock market from the UK

I live in the UK. I would like to invest in an Asian stock market, say Japan's, ideally in the main index, in order to have exposure to the currency rate change in addition to the index exposure. How ...
1
vote
2answers
538 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
2k 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
votes
1answer
50 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
votes
4answers
155 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
70 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 ...
3
votes
3answers
289 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, ...
4
votes
1answer
408 views

Which risk did I take winning this much?

This morning I made a large percentage profit 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 than ...
1
vote
2answers
528 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
883 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 ...
42
votes
6answers
55k 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 ...
2
votes
1answer
544 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 ...
3
votes
1answer
81 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 ...