Questions tagged [foreign-currency]
The foreign-currency tag has no usage guidance.
78
questions
0
votes
1
answer
70
views
Exchanging out of circulation Canadian dollar to US dollar in the US
I have these Canadian dollars from 2010. I live in the U.S. Midwest. I have been to Wells Fargo, US Bank, and Chase branches and they all said it's out of circulation. It's not a lot of money. I am ...
- 13.2k
2
votes
1
answer
236
views
Lack of response by FinCen?
I had all my FBAR information prepared well before the deadline to file. In order to avoid electronic signatures, I requested a paper FBAR, and received one. The paper FBAR contained instructions ...
- 24k
2
votes
0
answers
81
views
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 ...
- 53k
2
votes
2
answers
130
views
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), ...
- 2,774
2
votes
4
answers
115
views
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 ...
- 1,379
1
vote
3
answers
162
views
"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 ...
- 3,572
1
vote
1
answer
32
views
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 ...
- 46.5k
0
votes
0
answers
142
views
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 ...
- 17k
1
vote
0
answers
50
views
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-...
- 11
1
vote
1
answer
209
views
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 ...
- 33.4k
2
votes
0
answers
104
views
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 ...
- 487
0
votes
0
answers
43
views
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
0
votes
1
answer
411
views
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 ...
- 135k
3
votes
2
answers
272
views
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 ...
- 29.7k
1
vote
1
answer
218
views
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 ...
CommunityBot
- 1
29
votes
3
answers
6k
views
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?
...
- 111
0
votes
0
answers
71
views
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 ...
- 17k
3
votes
2
answers
303
views
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 - ...
CommunityBot
- 1
9
votes
8
answers
13k
views
Losing Money with Norbert's Gambit
In attempt to avoid the usual 1.5-2% exchange fees levied by brokers, I perform Norbert's gambit: I purchase DLR.TO in CAD (Canadian dollars) from TSX, journal it over to DLR.U.TO, and then sell the ...
2
votes
1
answer
112
views
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 ...
- 13.8k
0
votes
1
answer
85
views
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,...
- 7,422
0
votes
1
answer
131
views
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 ...
0
votes
2
answers
170
views
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 ...
- 692
2
votes
4
answers
2k
views
How to move money between U.S and non-U.S bank accounts?
In the U.S, whenever I want to move money between my U.S bank accounts, I simply link them once using their respective routing and account numbers, and then initiate ACH transactions between them ...
3
votes
1
answer
479
views
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 ...
- 17k
1
vote
0
answers
61
views
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?
- 157
4
votes
4
answers
2k
views
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 ...
- 53k
1
vote
1
answer
232
views
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 ...
- 10.4k
0
votes
0
answers
64
views
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
0
votes
0
answers
42
views
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 ...
-1
votes
1
answer
62
views
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 ...
CommunityBot
- 1
0
votes
0
answers
18
views
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 ...
- 1,281
1
vote
1
answer
889
views
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 ...
- 57.1k
0
votes
1
answer
67
views
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 ...
- 23.5k
1
vote
1
answer
129
views
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 ...
CommunityBot
- 1
0
votes
2
answers
108
views
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 ...
- 104
1
vote
0
answers
48
views
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 ...
- 111
0
votes
1
answer
88
views
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 ...
0
votes
2
answers
93
views
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).
...
- 121
1
vote
2
answers
653
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 ...
- 1
1
vote
2
answers
129
views
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 ...
- 7,860
2
votes
0
answers
88
views
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 ...
- 50.7k
2
votes
1
answer
1k
views
Can I make a foreign currency transaction for friends buying online outside India?
I have a couple of friends whose debit cards do not work on international sites (outside India in USD or CNY). I have used my debit card few times to purchase items (total value around INR 30k) for ...
49
votes
5
answers
14k
views
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 ...
- 31
1
vote
1
answer
553
views
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 ...
3
votes
1
answer
162
views
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. ...
- 5,768
0
votes
2
answers
105
views
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 ...
- 1,402
6
votes
1
answer
469
views
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 ...
- 6,789
4
votes
1
answer
315
views
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 ...
- 42.6k
0
votes
2
answers
99
views
Investing in currency, long term
Given the low expectation that currencies go bankrupt (at least, main currencies like yen or pound): Is it a viable strategy to just buy currency (the currency proper not some future), and wait until ...
- 76.4k