Questions tagged [foreign-exchange]
This tag is to be used for any question related to rates between 2 pairs of currencies. If the question is generic, only this tag is sufficient. If its specific for a pair of currencies, ideally both the currency tags should also be used.
596
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What websites to get information about institutions and banks' news prediction for USD? [closed]
I would like to know the data prediction from institutions and banks for upcoming news. For example, I found it, but I'm sure from which source this is.
Are there any specific websites or pages to ...
2
votes
0
answers
67
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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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1
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101
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What are the upsides and downsides if one's currency exchange order is routed as an odd lot order instead of IdealPro on Interactive Brokers?
I placed a currency exchange order on Interactive Brokers from EUR to USD. Since the amount was below 20kEUR, Interactive Brokers told me that the currency exchange order would be routed as an odd lot ...
- 11.2k
0
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0
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104
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Why is there no double rollover interest for forex trades carried overnight on Thursdays?
Why is there no double rollover interest for forex trades carried overnight on Thursdays? I have been looking everywhere to find an answer to this question, and finding absolutely nothing. I'd ...
2
votes
1
answer
193
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Can money be refunded after order cancellation in HDFC multicurrency forex card?
I ordered something online on Amazon while in US using my HDFC multicurrency forex card. A day later the payment was processed and the amount got deducted from my forex card. I had to cancel the order ...
- 23
2
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0
answers
18
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Calculating Foreign Exchange Capital Loss on Margin Loan Repayment
Let's assume I convert 10,000 CAD to 5,000 USD and hold it for one year. During that year, I also make some trades using money borrowed from the brokerage firm (i.e. trading on margin). Afterward, I ...
- 1,360
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0
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31
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Tax Implications of Forex Transactions when Changing Country of Residence
I have a somewhat complex tax question related to forex transactions and moving to a different country. Here's the scenario:
I'm a UK resident, and I sold GBP to buy USD in order to purchase American ...
- 202
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1
answer
37
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Are everyday foreign currency exchange fees deductible with the CRA as a capital loss? [duplicate]
Let's say today's official market exchange rate from USD to CAD is 1.30.
However, my bank or Western Union is only willing to offer me a rate of 1.20. Therefore, I end up converting $100K USD to just $...
- 1,360
1
vote
1
answer
31
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Do you use the trade date or settlement date for CRA reporting capital gains, especially for exchange rates?
Suppose you engage in the following investment transactions while a Canadian resident:
(Buy MSFT) Trade Date: Jan 1st. Settle Date: Jan 3rd.
(Sell MSFT) Trade Date: Jan 10th. Settle Date: Jan 12th.
...
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1
answer
113
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how are brokerage accounts okay with leverage when going short?
I'm new to this and am trying to understand all the risks and benefits before getting too far in.
I recently grabbed MetaTrader 5 to play my hand at trading in forex, so far I've been doing very well. ...
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1
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2
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229
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cheapest way to transfer money to myself overseas
I am moving overseas due to work. As part of the move I need a bank account in the country I am going to live in, and then I will need to transfer the money that I have in my U.S. account(s) to the ...
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1
answer
39
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Can non-resident alien in USA accept money from dependent wife in a US saving account without incurring tax?
I am a non-resident alien in USA on J1 visa. My wife and I are both Indian citizens. Recently my wife moved from her previous job (in Spain) to live with me as dependent J2. Since she does not have ...
- 103
1
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0
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43
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Who performs currency conversion on a SEPA payment?
To simplify, consider a
EUR-denominated SEPA Instant Credit Transfer
from a EUR-denominated account
to a CZK-denominated account
to a bank in the Czech Republic (EU member).
Which institution ...
- 465
4
votes
4
answers
880
views
Convert millions of USD to GBP at minimal cost [closed]
I live in the UK but am due to personally receive a one-off payment of millions of dollars - representing the majority of my personal wealth - from a US-based organisation with whom I do business. The ...
- 49
1
vote
1
answer
82
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What are the pros and cons of buying a currency etf versus forex?
I want to take a long position in CHF.
Two common ways to do this are with an ETF like FXF, or Forex.
Why might I decide to choose one approach over the other?
- 3,048
16
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3
answers
4k
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Sending a check from US to Canada - whose problem is the exchange rate?
I need to pay someone in Canada for services rendered. We have agreed on an amount and to pay by check, and the contract specifies it will be paid in US Dollars. Is the transaction as simple (for me)...
- 1,737
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1
answer
112
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How can I exchange EUR to USD on Interactive Brokers without going through FXCONV?
I'm looking at this Interactive Brokers account:
The cash position is 77,535.00 EUR. Interactive Brokers say it's worth 84,755.45 USD. xe.com agrees with that estimate. However, converting 77,535.00 ...
- 11.2k
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votes
1
answer
94
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Given a pair of currencies, are there one or several interbank currency exchange rates?
Let's consider a pair of currencies, e.g. EUR -> USD. Are there one or several interbank currency exchange rates?
I see that both Revolut and OFX claim to use the interbank currency exchange rate, ...
- 11.2k
16
votes
1
answer
3k
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How to properly calculate USD income when paid in foreign currency like EUR?
Say I live and work in the United States, but mostly do contract work for European organizations. This would mean that I very often invoice and get paid in EUR, which initially might go into a EUR ...
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3
votes
1
answer
1k
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Why does the interbank currency exchange rate differ from the Reuters, New Change and XE exchange rate?
I'm looking at converting some USD into EUR. I am comparing Revolut's currency exchange rate with Wise' currency exchange rate. As of now:
Revolut: 1 USD = 0.9216 EUR (screenshot). Revolut states ...
- 11.2k
2
votes
4
answers
94
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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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6
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2
answers
1k
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Is currency conversion and foreign transaction fee inevitable when purchasing a service from a country different from a credit card company?
I purchased plane tickets at Kuwait Airways website, for a trip originated from US with a transition/overlay at Kuwait, by using Fidelity Rewards Credit Card, a credit card issued in US.
My credit ...
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1
answer
150
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Do banks trade forex?
Does anybody know exactly whether banks also trade like traders? Anyone saw or read about it previously and have a firm answer?
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1
answer
92
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Why is EUR/CAD market open now?
As far as I know the Euro follows London times (closed right now), and CAD session is almost the same as USD session (closed right now as well) so why is EUR/CAD market open and trading right now?
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1
answer
29
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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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29
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Historic exchange rate sites show 0.0% on certain days for ZAR/AUD
From 2000/01/01 to the present, I have encountered 306 days over the years 2008, 2009 and 2010 that had a 0% change in the exchange rate on several sites that list historic exchange rate data.
As an ...
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2
answers
106
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Send USD From PayPal AUS To Thailand
I have an Australian PayPal account holding $USD. I need to send this money to Thailand because that's where I live, but I don't want to convert it to AUD and then to baht. How can I use Wise to ...
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1
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183
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How is that a profit or a loss?
An investor enters into a short forward contract to sell 100,000 British pounds for US
dollars at an exchange rate of 1.4000 US dollars per pound. How much does the
investor gain or lose if the ...
-1
votes
1
answer
89
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interbank currency exchange rate?
when you have a gold account, sometimes banks offer an option of exchanging currencies with no added operation cost, using only interbank transfer exchange rate. (proably, this is called TT rate). I ...
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0
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152
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Can International students day trade (Forex and Metals) in Germany on Student Visa?
I got an admit in a German university for my masters degree. I day trade XAU/USD with a prop trading firm (FTMO) under their funded trading program. Is it legal to day trade in Germany on student visa ...
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1
answer
104
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Why is the USD/HKD is not moving normally?
I know that the RMB is pegged against the USD (and other currencies?), but why is the USD and HKD are not moving as I would expect from other currency pairs? Below is the USDHKD pair on the daily ...
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5
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Why don't unbanked people use cryptocurrency?
I hear a lot about Western Union and associated costs in the context of remittances. Also there are exchange rates anyway, between one currency and another. Also there is inflation and bank fees.
Why ...
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0
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152
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FOREIGN EXCHANGE EARNING AND OUTGO definition
I was going through the annual report of a company listed in the stock market which have mentioned their foreign exchange earning and foreign exchange outgo. The values of both changed drastically in ...
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0
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15
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How is implied volatility on future treasuries used to expect Forex volatility?
I was listening to some traders talk amongst themselves. One emphasized the importance treasury implied Vol as a useful indicator for forex vol/trading.
I don't totally see the connection. I have a ...
0
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1
answer
71
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Forward vs Future rates
Looking at the market data for USD/CHF on investing.com and can't get my head around the difference between the forward and futures rates for this pair.
USD/CHF spot rate is 0.9898
MAR23 Futures ...
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vote
2
answers
103
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How to calculate cost basis for list of incongruent batches of buy and sell transactions (forex trading)
How can I calculate the cost basis for my forex portfolio at any given time?
I'm trying to build a spreadsheet to track forex trading of cryptocurrency pairs. Specifically I'm looking at XMR-BTC
...
1
vote
1
answer
90
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How can I track *complex* forex trades so I have an idea of my profit vs loss over time?
What's the best way to keep track of my forex trades so that I can determine how profitable my trading has been?
I've been looking into trading foreign exchange currency pairs for profit, but before I ...
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0
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100
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How to sell/buy rubles in EU? [closed]
Main question: Is there a working service (or other way) to sell/buy rubles from EU?
Minor question: What price should I expect (relatively to official exchange rate)?
What I have tried:
OANDA
Local ...
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1
vote
1
answer
96
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How do I speculate on the movements between two currencies when I have a different base currency?
My base currency is the Singapore dollar (SGD), and I want to speculate on the USD/EUR exchange rate. Suppose I believe that that the US dollar will soon strengthen against the Euro (i.e. each USD ...
- 16.9k
1
vote
0
answers
21
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Forex spread commission on mini-lots, how does it work?
Hi guys and sorry if this is a dumb question
So FP-Markets charges the spread as the commission on buying and selling Forex pairs with a full standard lot, my question is if I trade mini lots do I pay ...
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2
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101
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Why does this 5m candle open with a large body?
I grabbed this screenshot from TradingView on the AUDUSD chart from CityIndex at just a few seconds after the 06:45 candle opened:
Why is the candle so large?
I am expecting that when a new candle ...
- 549
2
votes
2
answers
297
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How to record currency conversion in a journal entry
I am keeping track of my personal finances in a physical accounting journal. At a currency exchange desk, I converted 100 CAD into 75 USD. How should I record this transaction in my journal? In double-...
- 16.9k
1
vote
1
answer
390
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Revolut and Taiwan dollar payment
Urgent question. Revolut does not support Taiwan dollar but I am not sure whether we can reserve hotel for example online payment in Taiwan dollar and what is the exchange rate in case I want to be ...
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1
answer
55
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If an asset or currency pair is correlated with U.S. Treasuries, is the correlation with treasury yields or prices?
For example, the USD/JPY currency pair has traditionally had a close correlation with U.S. Treasuries.
But does this mean that USD/JPY goes up when:
(a) the price of U.S. Treasuries increases
or
(b) ...
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0
votes
1
answer
42
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Exchange rate prediction for shopping
I don't know how appropriate this question is, but I need your help. I'm in Turkey right now, I'm going to buy dollar-based products, but Turkey's exchange rate system is very volatile and it is ...
Wraith
4
votes
1
answer
900
views
What is the difference between an Order and a Trade?
What is the difference between an order and a trade in the context of financial services and exchanges? From what I understand, an order is an instruction to buy or sell something but trades occur ...
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0
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73
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Complete formula for calculating forex pip value for XAUUSD with account funded in euros
I'm currently developping forex robot using Python API for Metatrader 5. Among different things, this robot places trades given by external signals (with price, SL and TP).
I use euro funded account, ...
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3
votes
6
answers
4k
views
Cryptocurrency: What happens to coin value when it's transfered from one blockchain network to other?
I am very new to cryptos and trying to understand how transferring of a coin from one blockchain network to another works.
For example, let's say that:
The Bitcoin blockchain has X coins in ...
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vote
2
answers
260
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Who loses money in forex?
If i earn money in forex does this anyone from otherside loses money like in stock market. In stock market when we earn someone lose.
And if we lose, to whom does that money go?
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vote
1
answer
33
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Why bid price is used while calculating Forex cross rates?
I was trying to understand how Forex cross rates work. Different articles on internet uses bid price of currency to identify it's current value. My question is, why do they chose bid price and not ...
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