Questions tagged [currency]

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

Filter by
Sorted by
Tagged with
8
votes
2answers
198 views

Earning in a declining currency but foreign currency liabilities, what strategy assuming exchange rates continue to decline?

I earn in euros, but have sterling and dollar liabilities that need to be paid monthly. Assuming the euro will continue to decline against these currencies, is there anything I can do to protect or ...
8
votes
2answers
338 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
4answers
2k 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 ...
7
votes
1answer
2k views

USD destroyed in a fire

After seeing some cash destroyed in a fire in a popular Netflix TV series, I wondered what would happen if someone's cash was destroyed in a fire. Assuming you had some way to prove that the money ...
7
votes
3answers
352 views

When do institutions exchange physical currency from electronic payments?

This question always been on my mind and I never truly understood the concept. I’ve done some digging and haven’t found the answer that is comprehensive. I want to understand at what point does a ...
7
votes
4answers
462 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: ...
7
votes
1answer
2k 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 ...
7
votes
1answer
7k 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 ...
7
votes
6answers
889 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 ...
6
votes
5answers
366 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 ...
6
votes
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 ...
6
votes
2answers
1k 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
2answers
373 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....
6
votes
2answers
15k views

How exactly does a country devalue its currency? [closed]

OK. So China devalued its currency today. How exactly does that happen? Does some official tell the Foreign Exchange the the new exchange rate for the yuan is 0.98 * the current exchange rate? ...
6
votes
3answers
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, ...
6
votes
1answer
138 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 ...
6
votes
1answer
2k views

Tax implications of currency exchange between friends?

I am a US and French citizen and have bank accounts in both countries. One of my friends is a Permanent Resident in the US and also has French citizenship, with bank accounts in both countries. I ...
5
votes
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'...
5
votes
1answer
100 views

Why does renminbi have three currency units?

I'm currently trying to understand what is meant by a Currency Unit. In the context I'm working with, renminbi/CNY is given as an example of a Currency, that has three Currency Units - The yuan, jiao, ...
5
votes
1answer
6k views

How much is one “lot” of EUR/USD?

In a foreign exchange market, what is the meaning of buying 1 lot (100K) of EUR/USD? Does that mean we have USD 100K, and we are exchanging it for Euro? Or do we have EUR 100K, and we are exchanging ...
5
votes
1answer
216 views

best way to receive a USD wire transfer without a US account?

I'm based in the UK and want to receive some money from a US company called Fidelity. Last year I set up a transferwise 'borderless' account, which worked really well. I had a virtual US account, to ...
5
votes
2answers
160 views

Choosing currencies when using credit card on vacation

I use a Canadian Mastercard to pay at restaurants, etc. while on vacation. As a example, I recently made a transaction in Dubai, where after inserting my card and entering my PIN, I was asked about ...
5
votes
2answers
323 views

How does the price of oil influence the value of currency?

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 ...
5
votes
2answers
1k 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 ...
5
votes
1answer
264 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 ...
5
votes
1answer
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, ...
5
votes
1answer
275 views

How to treat multiple currencies in global asset allocation?

Say I'm trying to diversify my portfolio along multiple asset classes and countries. Many of those assets are in different currencies. For example, I'm based in the UK and I'm evaluating a 3 asset ...
5
votes
1answer
664 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 ...
4
votes
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 ...
4
votes
1answer
410 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 ...
4
votes
4answers
2k views

Should I invest in the world's strongest currency instead of my home currency?

Kuwaiti Dinar shows up as the most expensive in the world. Does that mean I better invest in KWD (or the safe USD) instead of my home currency (IDR)? A little background: I am just an ordinary person ...
4
votes
2answers
1k views

Are there multiple Bitcoin markets?

I have the (possibly wrong) suspect that Bitcoin questions are not received too well here, so I kindly ask you to go easy on me :-) According to this question we should categorize Bitcoin as a ...
4
votes
2answers
744 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% ...
4
votes
2answers
594 views

Why are certain currencies considered safe havens in times of turmoil?

Why are the Japanese yen (JPY) and the Swiss franc (CHF) considered safe currency havens in times of turmoil, like the present crisis in Russia-Ukraine? Both JPY and CHF have become stronger ...
4
votes
1answer
493 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 ...
4
votes
1answer
1k views

Why are there two exchange rates for Venezuela's currency?

On DolarToday, the actual exchange rate between BsF (Bolívares fuertes) and the U.S. dollar can be found. However, in other places you will read that the exchange rate is about 6.4:1 (Bolivares ...
4
votes
1answer
2k views

Generic name for the smallest unit of currency?

For example, in Canada and the US, it's a "cent", in Bitcoin it's the "satoshi", in Bahrain it's the "fil". What's a generic word that means "smallest unit of this currency"? By "smallest" I mean ...
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 ...
4
votes
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, ...
4
votes
2answers
1k 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
332 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 ...
4
votes
1answer
207 views

How to save money on currency conversion

I do business with a few companies in the United States, and as such, get paid in US currency for my services. I have a US account with my bank, but anytime that I make withdrawals from this account, ...
4
votes
2answers
388 views

How does the fluctuation in the foreign exchange market occur at the same time in all countries?

How does the fluctuation in the foreign exchange market occur at the same time in all countries? For example: If the U.S. Dollar depreciated, does it — and how — get automatically ...
4
votes
3answers
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.
4
votes
3answers
299 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 ...
4
votes
2answers
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 ...
4
votes
2answers
93 views

Capitalize on a falling INR

Recently the INR has taken a beating. As an Indian retail investor, is there a way to capitalize on this? Assuming that the person is not in the export business. They are a salaried person earning ...
4
votes
1answer
289 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
2answers
122 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 ...
4
votes
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 ...