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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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Do currencies that are invested on belong to real assets or financial assets?

When considering investments in currency, I wonder if currency belongs to real assets or financial assets, and why? Thanks! Note: I learned that assets are divided into real assets and financial ...
Tim's user avatar
  • 5,883
4 votes
3 answers
1k 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.
Jash Sayani's user avatar
8 votes
2 answers
326 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 ...
Lagerbaer's user avatar
  • 953
21 votes
9 answers
2k views

Does gold's value decrease over time due to the fact that it is being continuously mined?

As one can see here ( How fast does the available amount of gold in the world increase due to mining? ), available amount of gold is increasing. That sounds similar to printing more money. I ...
Enno Shioji's user avatar
4 votes
1 answer
1k views

How can I determine the exchange rate and fees that were applied to an international wire transfer?

I received a wire transfer from Europe a while ago. The money was sent as EUR and converted into USD by HSBC. Since the incoming transaction showed an amount that was around 3% less than expected, I ...
Marsellus Wallace's user avatar
8 votes
3 answers
2k 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% ...
duffbeer703's user avatar
  • 30.4k
8 votes
3 answers
1k 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?
Tony the Pony's user avatar
5 votes
2 answers
2k views

Why is seigniorage different for paper notes and coins?

Wikipedia defines Seigniorage for paper notes and metal coins. Why is seigniorage for paper money not just face value - production cost? I can understand using just the interest rate in the age of the ...
highBandWidth's user avatar
8 votes
7 answers
4k views

Why don't banks print their own paper money / bank notes? [closed]

The fractional reserve system benefits the banks immensely, according to the documentaries I’ve been watching recently. However, I began wondering why they don’t get into the paper business too. If ...
fgf555's user avatar
  • 89
3 votes
1 answer
406 views

If Greece decides to stop using the Euro, how would they implement it?

In particular, if they decide that they want to stop using the Euro as their currency, and have their own currency, how would that work? Since greece euros are the same as other european country's ...
Joe.E's user avatar
  • 6,080
7 votes
1 answer
10k 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 ...
Chris W. Rea's user avatar
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4 votes
3 answers
471 views

What can I do to take advantage of a strong currency?

Australia's dollar is currently cruising higher against the greenback. Currently it is around 1.09 cents compared to about 60 cents mid 2009. What can someone do to benefit from this situation? Is ...
going's user avatar
  • 161
4 votes
2 answers
2k views

Why did Japan's currency value increase after the tsunami?

Why is it that Japan's currency went up after the tsunami? Dollars to Yen After March 11th, the dollar to yen ratio drops until the 16th. What causes the value of currency to rise as the stock ...
dting's user avatar
  • 141
9 votes
4 answers
606 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 ...
William's user avatar
  • 193
12 votes
3 answers
1k 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 ...
sterz's user avatar
  • 435
5 votes
1 answer
6k 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, ...
David C's user avatar
  • 53
2 votes
4 answers
1k 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 ...
Zippy's user avatar
  • 317
8 votes
2 answers
354 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. ...
trip0d199's user avatar
  • 305
6 votes
3 answers
1k views

How can I cash out my prepaid cell phone?

As a very frugal person, I have a prepaid phone plan that costs $100 a year. For the past two years, I've spent roughly $50 of that each year. As long as I renew the plan with another $100 every year, ...
jldugger's user avatar
  • 7,437
0 votes
1 answer
768 views

Sites to obtain historical chart of currency exchange rates?

Besides Yahoo Finance, is there any site where I can obtain history chart of currency exchange, for cross comparison purpose? (As I realize British Pound against my country currency is the lowest ...
Cheok Yan Cheng's user avatar
6 votes
6 answers
1k views

What would happen if the Euro currency went bust?

Seems to be a lot in the news recently (Google Business news UK) discussing that the euro currency may not survive. They suggested it has a 1/5 chance of surviving the next decade. What would ...
user155695's user avatar
2 votes
3 answers
984 views

Foreign currency conversion for international visitors to ecommerce web site?

It is really not personal finance question but I haven't found a more appropriate place for it. My question is about currency conversion. Let's imagine I have two prices for one item: Russian shop: ...
SiberianGuy's user avatar
16 votes
4 answers
5k views

What is a "fiat" currency? Are there other types of currency?

I've seen the term "fiat currency" in another question. What is a fiat currency? Are there other types of currency?
Alex B's user avatar
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61 votes
3 answers
8k 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%?
Michael Pryor's user avatar
3 votes
3 answers
609 views

Iraqi Dinars. Bad Investment, or Worst Investment?

Some family members are getting excited about investing in Iraqi Dinars. I'm pretty sure it's not a great idea. What are the best online resources for or against this idea?
Andrew Lewis's user avatar
10 votes
3 answers
2k views

What exactly happens to Euro if one of European Union countries goes bankrupt?

What happens if one of the European Union countries goes bankrupt? Suppose I have money (bank deposits at local banks) in US dollars, Euros and local currency (I'm not in the US). Now one of EU ...
sharptooth's user avatar
  • 2,889
8 votes
7 answers
390 views

Do you know of any online monetary systems?

I'm actually looking for something that would resemble a monetary system of a sovereign country. The value of its currency would be somewhat independent of, say the dollar. If there was a more stable ...
triforcelink's user avatar
3 votes
4 answers
15k views

What Is The Most Reliable Source For Getting Real Time Exchange Rates?

What is the most reliable and up-to-date source for getting world currency exchange rates?
rsman's user avatar
  • 133
9 votes
1 answer
303 views

Why could the serious financial woes of some EU member states lead to the end of the Euro?

I've been reading a lot about the impending bankruptcy of Ireland/Portugal/Spain etc. and how this could mean the end of the Euro. I cannot connect the dots here. Why would this mean the demise of ...
Randy Minder's user avatar
6 votes
2 answers
2k 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 ...
Zak's user avatar
  • 198
8 votes
8 answers
8k views

Best way to buy Japanese yen for travel?

Going to Japan in about a week, and I'm looking for ways to buy Japanese yen. In Australia, it's pretty nuts. If you exchange money from them, they'll charge you 5-6% above the mid rate of the ...
Joe.E's user avatar
  • 6,080
23 votes
12 answers
20k views

How should spare change be exchanged?

So I have about $50 in pennies, dimes and nickels. What would you do with it? I'm asking because I don't think spending hours rolling up the change and taking it to the bank is the best/most ...
MrDatabase's user avatar
40 votes
5 answers
25k views

How common is counterfeit money in circulation?

I've noticed recently that several places where I paid with a $20 bill, the cashiers used a small marker to detect whether the bill was counterfeit or not before accepting it. Like so: I saw this ...
Jeff Atwood's user avatar
  • 1,727
8 votes
4 answers
3k views

Are there any countries where citizens are free to use any currency?

It seems like most countries restrict the citizens to the use of the government currency for exchanging goods. I'm not a world traveler so maybe there is a country where this is not the case. Does ...
Muro's user avatar
  • 7,575
3 votes
1 answer
77 views

Does anyone have experience with Community Exchange Systems?

I am interested to know if anyone has participated in a Community Exchange System, where the currency of exchange of goods and services is completely information-based - in other words, there is not ...
4 votes
2 answers
2k views

Looking for online sources for historical currency data / exchange rates. Recommendations? [closed]

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.
Noldorin's user avatar
  • 330
66 votes
14 answers
14k views

Do Americans really use checks that often?

That might sound a bit silly to people from USA but is it really that common to use checks in America? I am from Austria and here (Austria, Germany, Switzerland) checks play practically no role in ...
Plankalkül's user avatar
52 votes
10 answers
16k views

Are you preparing for a possible dollar (USD) collapse? (How?)

After the last crisis it was easy for many to look back and say all the signs were there to indicate an impending crisis. Super-low interest rates from the FED, no down-payment loans, interest-only ...
Muro's user avatar
  • 7,575
12 votes
6 answers
1k views

What happened to the $1 coin in US?

The US, like Canada tried to introduce a $1 coin awhile back to reduce minting costs of the $1 paper bill. This was successful in Canada but not so much in the States. Why was it not widely adopted? ...
Zephyr's user avatar
  • 6,230
7 votes
1 answer
3k views

What is the least valuable unit of actively used currency that is coined or printed?

Another question about the potential for giving up on pennies made me wonder. What is the smallest (in terms of value) unit of currency that has a minted coin or printed bill that is in active use ...
JohnFx's user avatar
  • 53.1k
11 votes
2 answers
471 views

I've heard pennies are being phased out in Canada. Is this true?

If so, will it affect how retailers price items? Will they round up?
Nat_Rea's user avatar
  • 8,683
15 votes
1 answer
6k views

Currency values: Are there names for the parts before and after the decimal point?

What is the collective name / term given to the part of a currency value before and after the point? e.g. $123.99 So in the example above I'm after the name of the part '123' and the name of the ...
Peanut's user avatar
  • 335
6 votes
5 answers
381 views

When going abroad, how do you take your money?

When going abroad, how do you take your money? All hard cash? Some travellers cheques? I guess you could use your normal current bank account, but the UK banks (at least my one did) charges fees all ...
James's user avatar
  • 2,034
6 votes
1 answer
155 views

What investment strategy would you deduce from the latest article from Charles Munger?

One of the most interesting article I read in the last months was from Charles Munger (vice chairman of Berkshire Hathaway). Here is a link: http://www.slate.com/id/2245328/pagenum/all/ I would be ...
4 votes
1 answer
325 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 ...
Sam Holder's user avatar
10 votes
4 answers
884 views

When will Canada convert to the U.S. Dollar as an official currency?

(note I really don't want this to sound argumentative, I'm genuinely interested. The title is simply a follow up to this question and my answer. To the Canadian users of this site, would you agree ...
Rich Seller's user avatar
  • 3,893
11 votes
6 answers
4k views

When will the U.K. convert to the Euro as an official currency?

When will the United Kingdom switch to using the Euro? The main group of European countries have adopted it as a common currency and it appears this is the future direction. If not, what are the ...
Zephyr's user avatar
  • 6,230
5 votes
2 answers
343 views

How does the price of oil influence the value of currency? [closed]

It's been said that currency markets are affected by the price of crude oil. Currencies such as the U.S. Dollar typically react to the rise and fail of the price of this commodity. Why are they ...
Zephyr's user avatar
  • 6,230
43 votes
4 answers
47k views

It is legal for a retailer/store or other business to refuse $50 & $100 bills or other legal tender, e.g. pennies?

I'm trying to find out about businesses refusing $50 & $100 bills. Aren't they required by law to accept all legal tender? I had one person say it could be that it's not all legal (i.e. a ...
Cherie-Lynn's user avatar
15 votes
4 answers
22k 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?
Chris W. Rea's user avatar
  • 31.7k

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