Questions tagged [currency]

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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1answer
99 views

Change rates between RMB and U.S. dollars for money transfer between China and U.S

Let R_1 be the change rate from RMB to US dollars when transferring money from China to U.S., and R_2 the rate from US dollars to RMB when transferring money from U.S. to China. Are R_1 and R_2 ...
9
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2answers
7k views

Why is a coin an asset whereas a note is a liability on the Federal Reserve's balance sheet? [closed]

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
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3answers
10k 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
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1answer
2k 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?
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1answer
188 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 ...
9
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1answer
6k 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, ...
12
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1answer
22k 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 example,...
11
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2answers
2k 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 ...
9
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1answer
4k 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 ...
2
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2answers
3k 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 ...
2
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2answers
100 views

International bonds, currency differences, and effect of inflation on such bonds?

Country X's national government purchases country Y's government-issued bonds. Would the bonds be issued in country Y's currency? How does inflation (of either country's currency) factor into this, ...
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1answer
105 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 ...
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3answers
1k views

Is there a generally accepted term for fractions of Currency Units?

If you imagine in the stock market prices are often quoted to many decimal places. For example: USD 27.4955 This smells like a monetary value e.g. it has a currency code and a value however it doesn'...
2
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1answer
198 views

I’m going to Russia. Where should I exchange my currency?

Is it better to go abroad with euros? What is the best kind of place to exchange currency?
15
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2answers
3k views

So the vending machine tore my $5 in pieces. What now?

The vending machine swallowed half of my $5 bill, and the other half remained in my hand. Can I get my $5 back, or is it all lost forever?
2
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2answers
141 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 ...
12
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2answers
3k 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 ...
2
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1answer
836 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 ...
2
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1answer
102 views

To minimize the spread costs in shopping in the North or Europe

I just noted that my Norwegian Nordea's Visa Debit card's spread is 2,56% when I pay my shoppings with it in Estonia: >>> a=7.33 // Google showed this course in its search by 1 EUR in ...
6
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1answer
2k views

Can limits be placed by a merchant on which currency notes are accepted as legal tender? [duplicate]

Possible Duplicate: It is legal for a retailer/store or other business to refuse $50 & $100 bills or other legal tender, e.g. pennies? Here in the USA, it seemed to be becoming more and more ...
4
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3answers
2k views

Why are some countries' currencies “weaker”? [closed]

Why for example, is the Japanese Yen trading very weakly (historically)? The exchange rate between the US Dollar and Japanese Yen is 1:79.791125 but the exchange rate between the US Dollar and Thai ...
3
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2answers
910 views

Bank changes exchange rate of transaction

I will use hypothetical numbers, just for examples. I have account in my bank in euros (EUR). I buy something online and pay for it with dollars (USD). Lets pretend exchange rate is 1 USD = 0.5 EUR. ...
4
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1answer
498 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 ...
20
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10answers
33k 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 ...
1
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1answer
183 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
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1answer
312 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 ...
2
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2answers
1k views

Is it smart to move private (euro) savings to a different currency?

Lately, I'm hearing a lot of talk about the euro's impending demise (I don't know how true that is by the way). And it's making me a little bit worried about my savings. I don't have a lot of savings,...
1
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1answer
4k 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 e.g....
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2answers
267 views

Currency conversion from US Citi Prepaid [closed]

I've got some money sent to me from US on a Citi Prepaid card. (Payment from Google for Google Summer of Code 2012.) However, I live in Croatia, and the withdrawal fees ($3 per withdrawal, 3% for ...
18
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2answers
4k 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 ...
10
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3answers
23k 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.
8
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6answers
2k views

How can my friend send $3K to me without using Paypal?

My friend is a paraplegic. He can't go to the bank and wire the money. He used to send money from our partnership via paypal. Now I am banned from paypal. What's the alternative? Google checkout? I ...
3
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2answers
543 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
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2answers
6k 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 ...
1
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1answer
272 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. Some ...
14
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1answer
527 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
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1answer
165 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 ?
2
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3answers
614 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 ...
16
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4answers
5k views

Why do people buy US dollars on the black market?

I was reading news articles about people in Venezuela and Iran getting a poor exchange rate for US dollars on the black market. Why do these people need to buy dollars? Why is it still worth while ...
0
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1answer
979 views

Web site for overlaying graph of exchange rate (e.g. USD/EUR) on S&P 500 index chart?

I would like to overlay the US Dollar exchange-rate vs the Euro with the S&P 500. What is the simplest way to do that? Is there a website that does that type of thing?
5
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2answers
7k views

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

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, ...
1
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1answer
2k 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 ...
10
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6answers
1k 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.
5
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1answer
266 views

Canada's polymer $100 bank notes: When will other dollar amounts of “plastic money” be available?

In November 2011, the Bank of Canada released a new polymer (plastic) one-hundred dollar bank note, including transparent areas and metallic images. What other denominations of Canadian paper money ...
3
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1answer
181 views

When a currency collapses, who can profit?

When a member state withdraws from a currency (say, the euro), what can be done to profit from this and who is it that would usually profit? Does any profit require foresight of the event, or can it ...
3
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2answers
5k views

Why do the 1 and 2 euro cent coins exist and why are they used?

Let's say I go to the supermarket. I buy some milk priced at 2.34 €; at the cash I'm expected to either give 2.34 € (not 2.30 €) or give 2.35 € and wait for the 1 cent change. If I say I don't want ...
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2answers
5k views

How to send money from europe to usa EUR - USD? [closed]

What's the best way for transferring money from Europe to the USA and vice-versa? By best I mean lowest fees and a good exchange rate. To the best of my knowledge banks are usually bad with both. I ...
5
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1answer
672 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 ...
3
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2answers
2k views

TD Waterhouse and USD/CAD conversion in TFSA account, or US money market fund?

I spoke to TD Waterhouse about conversion rates from CAD to USD in my TFSA account. They suggested if I want to avoid going back and forth with currency conversion, that they can put it into a USD ...
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2answers
6k 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. ...