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.

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Can a personal loan be taken in the USA to pay back a loan in India?

The interest rate from the Indian bank is higher so can a personal loan be taken in the USA to pay back the loan in India? If yes, then will there be major tax challenges or any other such hurdles? Is ...
 Adnan's user avatar
0 votes
1 answer
50 views

CFDs - What are the overnight holding times where you get charged swap fees?

We get charged overnight swap fees when holding CFD positions overnight. But what are the overnight trading times? Especially for crypto and shares. Scoured through the internet but could only find ...
masterpiece's user avatar
1 vote
1 answer
87 views

What happens under the hood when I place an order in the forex market?

I'm new to the field of forex trading and I'm trying to understand what actually happens under the hood when I place an order. The point is that I've read everywhere that I don't own the underlying ...
Maurizio Liguori's user avatar
2 votes
2 answers
144 views

Market Reactions to Federal Reserve's Rate Decisions

Background: During the meeting on December 13, 2023, the Federal Reserve (Fed) decided to keep interest rates at the level of 5.25% - 5.50%. The market's expectation is that interest rates have peaked ...
Tomek Tarczynski's user avatar
0 votes
1 answer
94 views

Depositing Cdn$ cheques into a US bank without being charged a commission and facing a substantial hold period

I received 2 cheques drawn on a Canadian bank account in Canadian dollars. I live in the US. I want to convert the Canadian dollars to US dollars, however to do so my US bank wants to charge a 3% ...
Jim Richardson's user avatar
2 votes
1 answer
81 views

Difference in the Capital gain due to exchange rates

I am a US citizen. I inherited a property in India in 2018 and sold it in 2023 with no gain/loss in Indian currency. But when I convert the cost and the sale price to US dollars, I get a loss because ...
user65985's user avatar
  • 169
0 votes
1 answer
109 views

Why am I not getting a margin call when using all my available margin?

I'm in the UK and have several broker accounts, all of which have a 50% margin call requirement. I thought I understood how margin works and the reason for it. As I am a retail trader, I use 30:1 ...
Lyall's user avatar
  • 121
12 votes
2 answers
5k views

What happened to the ARS to USD exchange rate in August 2023?

I was looking at the historical exchange rates of the Argentine Peso(ARS) to United States Dollar(USD). Why did the exchange rate flatten out in August 2023? Source from Forbes, other charts are ...
Freiheit's user avatar
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6 votes
4 answers
3k views

Exchanging currencies at Foreign Exchange market instead of bank

Normally if we want to exchange US Dollars into a foreign currency (Euros for instance), we would just do it through our bank. For example right now the exchange rate (from google) is 1 USD = 0.95EUR. ...
ronald christenkkson's user avatar
1 vote
0 answers
106 views

Leaving country soon, can I leave my bank accounts open?

I am a Tunisian citizen currently residing in Turkey with a work permit. However, due to a restructuring in the startup I worked for, I've been laid off and my work permit will not be renewed. As it's ...
Mehdi Saffar's user avatar
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 ...
Prashant Akerkar's user avatar
-3 votes
1 answer
182 views

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 ...
Franck Dernoncourt's user avatar
0 votes
0 answers
113 views

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 ...
kcardinalis's user avatar
2 votes
1 answer
792 views

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 ...
Nemika's user avatar
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2 votes
0 answers
18 views

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 ...
AlanSTACK's user avatar
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0 votes
0 answers
34 views

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 ...
user1883212's user avatar
0 votes
1 answer
53 views

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 $...
AlanSTACK's user avatar
  • 1,440
1 vote
1 answer
112 views

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. ...
AlanSTACK's user avatar
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1 vote
1 answer
119 views

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. ...
Nieminen's user avatar
  • 113
1 vote
2 answers
260 views

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 ...
Andy's user avatar
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0 votes
1 answer
40 views

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 ...
ipcamit's user avatar
  • 103
1 vote
0 answers
55 views

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 ...
Martin Drozdik's user avatar
4 votes
4 answers
902 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 ...
Karma Meyr's user avatar
1 vote
1 answer
85 views

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?
Matthew's user avatar
  • 3,128
16 votes
3 answers
5k views

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)...
nuggethead's user avatar
  • 1,999
-2 votes
1 answer
205 views

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 ...
Franck Dernoncourt's user avatar
-5 votes
1 answer
105 views

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, ...
Franck Dernoncourt's user avatar
17 votes
1 answer
3k views

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 ...
Donuts's user avatar
  • 177
3 votes
1 answer
1k views

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 ...
Franck Dernoncourt's user avatar
2 votes
4 answers
107 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 ...
halloleo's user avatar
  • 121
6 votes
2 answers
1k views

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 ...
Tim's user avatar
  • 5,883
-4 votes
1 answer
196 views

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?
Ahmad Turani's user avatar
2 votes
1 answer
95 views

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?
Aspiring Dev's user avatar
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 ...
stemnic's user avatar
  • 11
0 votes
0 answers
30 views

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 ...
jvndev's user avatar
  • 101
1 vote
2 answers
129 views

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 ...
Brett Stack 1's user avatar
-3 votes
1 answer
192 views

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 ...
bigstreet's user avatar
-1 votes
1 answer
93 views

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 ...
Asdf's user avatar
  • 109
0 votes
1 answer
120 views

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 ...
KingsInnerSoul's user avatar
3 votes
5 answers
5k views

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 ...
very big cat's user avatar
0 votes
0 answers
238 views

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 ...
patrick's user avatar
1 vote
0 answers
15 views

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 ...
MeditationOrBust's user avatar
0 votes
1 answer
87 views

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 ...
Vitaly Samara's user avatar
1 vote
2 answers
115 views

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 ...
qualityfreckle's user avatar
0 votes
1 answer
107 views

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 ...
Michael Altfield's user avatar
1 vote
0 answers
107 views

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 ...
matousc's user avatar
  • 111
1 vote
1 answer
101 views

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 ...
Flux's user avatar
  • 17k
1 vote
0 answers
28 views

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 ...
RaniFaris's user avatar
  • 107
-3 votes
2 answers
104 views

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 ...
Matt W's user avatar
  • 549
2 votes
2 answers
702 views

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-...
Flux's user avatar
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