Questions tagged [foreign-currency]
The foreign-currency tag has no usage guidance.
77
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Can I send international payments using the Google Pay app?
Can we send international payments using the Google Pay app? For example, a contact in the USA, Canada, or the UK. Can we transfer money from India to the USA or Canada or UK using Google Pay or vice ...
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4
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97
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How to decide whether to pay an USD amount from my AUD account or from my EUR account?
Soon I have a payment of, say, 100 USD to make and I have an AUD account which holds enough currency and an EUR account which holds enough currency.
I wonder which account to choose?
Just looking at ...
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3
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160
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"Shorting" a currency
I would like to bet against a currency, I have USD. for example: how can I bet against the EUR?
Unfortunately when I try to SELL (short) EUR with my broker - I am not allowed to. Are there other ways ...
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Assessing the trade-off between exchange rate risk and potential higher interest returns on emergency savings in foreign currency
I currently reside in an EU country and earn a salary in EUR, the currency I primarily use for expenses. I have been researching ways to protect my emergency fund from inflation by keeping it in a ...
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0
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94
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GnuCash budget report doesn't add up in multiple currencies
I spend in two currencies and, historically, I chose to create separate
accounts under each expense line for each currency. In future I will do
this differently, employing trading accounts, but what I'...
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0
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130
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Doing Norbert's Gambit with free-transaction ETFs? (QTrade)
Can we perform cheap currency conversion like Norbert's Gambit by trading something else than DLR and DLR.U to avoid/reduce the ETF purchase and sale fees?
For big trades, the gambit has potentially ...
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47
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Should I move my AUD ETF positions to EUR during a EUR weakness?
I used to work in Australia as an expat but since have moved back to Germany with no intentions to return.
In my depot I have a 35,000 AUD iShares Core S&P 500 ETF (IVV.AX) position including 5-...
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1
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167
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VISA Debit card refund on another currency
What happens when a VISA Debit refund is issued with a currency that's different than the account tied to that card? In detail:
Merchant charges PLN.
Charge gets converted to EUR and gets deducted ...
- 113
2
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0
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103
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When does a foreign transaction fee apply to a credit card (especially from shopping online)?
I assume if you go to another country and use a credit card, then the foreign transaction fee will always apply.
What if I use a credit card to make a purchase from an online store? Does it depend on ...
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42
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What are good criteria to decide how much money I should keep in a foreign exchange credit card account?
The Situation
I have a Wise account for EUR and AUD.
Into the Wise AUD account I can easily (without fees) put money from an AUD bank account when needed. For most of my purchases I use the AUD ...
- 121
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1
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289
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Why is the forex pair Japanese yen and USD is displayed as USD/JPY but not JPY/USD
Assume the trader's assets are in USD.
The first currency is base, which is bought after selling the quote.
Like EUR/USD. If my understanding is correct, wouldn't that be selling my USD in order to ...
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2
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270
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Is there no tax free way to shelter your savings from depreciation due to inflation like converting to any other unaffected foreign currency?
As I understand it, currency appreciation is treated as taxable income. However, if the currency you've converted to or any other currency you convert to isn't really appreciating at all and instead ...
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3
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Are currency terms like USD, EUR, CNY used in all languages?
Currency codes like USD, EUR and CNY are well known in English. In accountancy documentation prepared in non-English languages, are these same terms used for foreign currency or are they translated?
...
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Are foreign currency bank accounts in Brunei protected by deposit insurance?
All retail banks in Brunei are members of the Brunei Darussalam Deposit Protection Corporation (BDPC). The deposit insurance scheme protects up to 50,000 BND per person per bank in the event of a bank ...
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1
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111
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What happens with funds whose underlying is in a different currency if there is hyper-inflation?
Let's suppose that a british investor invests in a mutual fund whose underlying is in american dollars, but which is bought in pounds sterling. This means that the fund's managers convert the pounds ...
- 1,241
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What is the relation between inflation on a country and the exchange rate of its currency?
In the interval between 2010 and 2011, American inflation was 3.2% and Chinese inflation was 5.55%. During this year, the pair CNY/USD went from 6.2524 to 6.5758. If an investor would have invested 1,...
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1
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125
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Loss for currency exchange, is this taxable/deducible?
Hej,
I live in Sweden since 2019. I had money in a US Bank account (earned in 2018 and 2019) that was sitting there without being invested. I've therefore decided to transfer it to SEK and start ...
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61
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Portfolio diversification into different currencies
Does it make sense to diversify the portfolio into different currencies if they are in any case correlated with each other or is it not so?
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4
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2k
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What are the advantages/disadvantages of investing in foreign currency?
I am learning about brokerage accounts and how investors diversify their portfolios within their brokerage or other investment accounts. One of the things I have noticed, especially in the U.S., is ...
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213
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What does "foreign currency" mean in this context?
I'm looking to sign up for the Chase Freedom Unlimited credit card as I'm about to make a >$500 purchase and would like to receive the $200 bonus offer. This purchase would be made on a foreign ...
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62
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Can I really exchange money in Forex?
Suppose I've got Euros. Suppose I need dollars.
How can I transfer/exchange my euros into dollars in Forex?
I know I can do it in any currency exchange stall. But Forex currency rates look more ...
- 549
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39
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Billing my clients in different currencies, does it matter?
I have a Canadian LLC (with a Canadian dollars bank account) and recently got my first offshore client from Singapore.
In our signed contract my rate is in Canadian dollars, and then my client asked ...
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1
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62
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In case of an unsecured loan creation in a non-domestic currency where will the loan payment money come from? [closed]
In case of an unsecured loan creation in a non-domestic currency where will the loan payment money come from?
I have learned that it is possible for the money to be created and exist outside of their ...
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International investing and currency fluctuations [duplicate]
Lets suppose a British investor has some participations (say, for a value of £10000) in a Britih (not hedged) fund or ETF whose underlying assets are in US dollars, but that is denominated in pounds ...
- 1,241
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863
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Historical telegraphic transfer buying rate for a currency to INR
The rate of exchange for conversion into rupees of income expressed earned in foreign currency should be the "telegraphic transfer buying rate of such currency as on the specified date" as per the IT ...
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When are foreign exchange market hours?
This is probably a daft question. I am been googling for answers but still can't be sure about the answers I got from google.
I am trying to send money from Malaysia to the UK through Revolut. But I ...
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120
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In foreign mutual funds, what is the conversion fee?
I have found a mutual fund whose denominated currency is Euros but its underlying asset's currency is US Dollars (it tracks the S&P 500).
The fund can be found here.
While inspecting its fees, I ...
- 1,241
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2
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106
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Invest in an US ETF or fund being a UK citizen
Is it possible to invest in a US ETF or fund being a UK citizen, without having any sort of bank or brokerage account based in the USA?
I'm not talking about these ETFs / funds that hold US assets ...
- 1,241
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47
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Converting some of the rainy day fund to EUR
I live in a country where EUR is accepted at most shops, but it is not the official currency. I am wondering if it would make sense to convert a portion of my rainy day fund to EUR, to be somewhat ...
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88
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How should near-instant forex transactions be handled for taxes?
This is what I mean by a "near-instant" forex transaction. I deposit GBP in my broker account with the goal of buying a US-based company stock, but, when I make the trade, the broker automatically ...
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210
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FX options for retail trader
I would like to trade options on the FX market, say EURUSD and GBPUSD. I have seen that there are options on the CME that have FX futures as underlying and also some options on spot on the ...
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300
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Is it better to invest in US than to invest in India considering inflation rate and devaluation of INR
I am a US resident with Indian nationality. To calculate annual real gain on my investment in mutual funds in India, I am following below mentioned formula:
Annual Real Gain = Annualized Return - ...
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Small Business foreign exchange
I run a small Australian business that has the requirement to pay a relatively small but not insignificant (say USD10k-20k equivalent annually) amount of invoices in foreign currencies (EUR and USD).
...
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Why do currency rates have an effect on the value of goods? [closed]
It is common to hear explanation like "Yuan has lost value, this helps Chinese exporters". Why does currency exchange rate have any effect at all on the price of goods?
Let's say I own a widget ...
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Canadian nomad, USD earnings - how to invest/preserve currency
I'm a Canadian tax resident who moves around a lot. Exchanging currency stresses me out so much if I think about it that I basically have just decided to accept volatility.
I work online, and am paid ...
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2
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Currency option case
I am a bit lost with understanding the naming used for holding positions in the currency options and their payoffs.
If I want to buy the European option with an amount of x USD (EUR put/ USD call), ...
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5
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Why do money exchangers give different rates to different bills?
I was traveling to India recently and was buying a few hundred US dollars on my way as the money exchanges didn't have any Indian rupees with them. At the exchange counter, they didn't have 100 dollar ...
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How the uniformity in exchange rates are achieved?
Suppose it takes 1200 euros to visit Suriname. and I am from India.
Now first i converted 1200 euros to inr which came as 93689 rupees .
Then just out of curiosity, I tried converting 1200 euros to ...
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1
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What is the degree of “nickel rounding” that occurs with Swiss francs?
I am trying to implement currency handling for Swiss francs (CHF). In Canada, we have removed our penny from our currency circulation, but digitally the penny amount ($0.01) still exists (bank ...
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Buying foreign currency as a long term investment [closed]
I live in a country with an uncertain, collapsing economy. The exchange rate compared to USD and EUR@ is sky rocketing that effectively wiped off 20% of people's savings in just 8 months! See USD-LKR. ...
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2
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AUDUSD vs. Apple's bad results in China - WHY is this positive correlation (it has nothing to do with AUD!)?
I would appreciate if some trading fundamental analysis expert could please explain me this. Recently I lost basically all my entire life savings, everything i worked for, for over 3 years, waking up ...
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Who Is responsible when a currency transaction is mistakenly converted by an intermediary bank?
My client transferred USD from the US to my USD currency account in Ireland. Their intermediary bank converted the funds to Euros so it hit my USD account in Euro, was converted back to USD by my bank ...
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How to offset currency exchange losses?
Situation forces me to repatriate foreign revenue valued in Euro to USA, which is not ideal at this moment because the Euro is at a low. To counter this, would it make sense to buy Euro in USA at the ...
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How should I think about salaries in New Zealand relative to the United States? [duplicate]
Let's imagine I live in the United States and make about 100,000 USD.
If I move to New Zealand for a few years, I expect to make about the same, but denominated in New Zealand dollars. That is, make ...
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Posting invoice in different currency
I've got all my transactions organized in CAD.
Now I've got a new customer that'll pay me in USD. I can open USD bank accounts to handle this, that's not a problem but in GNUcash I created a new ...
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2k
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What costs do banks incur on processing credit card refunds in foreign currency?
When a credit card transaction is in currency different to the one of the card, it is pretty normal for banks to charge a 1-3% fee associated with the currency conversion. Some banks do this by using ...
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168
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Futures and forward contracts are very different from each other
** Assume two traders enter into a one-year (March 2019) Euro futures contract at a futures price of 1.1220 physically delivered. Regardless of the spot price on the settlement date, if the spot ...
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Hedging against currency risk
Is there a hedging method against currency risk without lowering returns ?
Classic hedging methods like forwards, futures options, all have a cost and don’t remove risk “for free”.
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Forex instead of futures as a hedge
Why don’t companies use forex trading as a hedge for their foreign exchange risk instead of futures ? Forex is much more liquid than futures, easier to have access to all your positions anytime, ...
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2
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Determining Futures price on the delivery date
When traders don’t get out of their fx futures positions before they expire, on the delivery date, is the amount exchanged the specified price on the contract when it was signed or the spot price ...
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