68

Liquidity is about how easily something can be converted to cash not how much of it is circulating. So dollars (or other plausible currencies) are by definition the most liquid possible asset. There are plenty of relatively illiquid assets whose total value exceeds the amount of physical dollars in circulation. The total value of all real estate in the ...


52

Assuming both halves have the same serial number printed on them, yes - a glued back together torn bill would be valid. You may exchange it at any US bank. If banks don't want to deal with that - send it to the Bureau of Engraving and Printing (BEP). If you only have one half, and it is exactly one half - then it is useless. That is why the person in the ...


23

Under US law, if you clearly have more than half of a torn bill it is worth its full value; the smaller piece is worth nothing... except that having both halves makes the banking system much happier, since it prevents some particularly stupid counterfeiting attempts. So this proposal wouldn't be cheat-proof unless the cut is close enough to the middle to ...


16

Hypothetically, yes! From the U.S. BEP's guidelines on Damaged Currency: Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if: More than 50% of a note identifiable as United States currency is present; or, 50% or less of a note identifiable as United States currency ...


12

Can they reject a hundred dollar bill as a payment of debt?! No. A creditor cannot refuse payment in cash, whatever denomination you use. HOWEVER, when you're buying stuff - you don't owe anything to the business owner. There's no debt, so the above rule doesn't apply. As long as there's no debt in existence, the matter of payment is decided between two ...


11

You goal should be in rupees, as you are earning in rupees and spending in rupees. Any other currency is of no value / meaning. More than being worried about the USD/INR rate, you should be worried about inflation and savings rate. This will change the amount that you need to save for your retirement. The USD/INR rate would anyways get reflected into some ...


10

PayPal does charge a premium, both for sending and receiving. Here's how you find their rates: Log in to the "summary" page. Directly above the numerical amount of your balance are the words "PayPal Balance" Click on "PayPal Balance". A new window will open showing current balances of any currency that you have ever owned there. All of my money is in US ...


9

A lot (sometimes called a round lot) always refers to the quantity of physical good that you're getting, like a carton of eggs or a barrel of oil. The tricky thing in the case of forex is that the physical good also happens to be a currency. A spot currency product trades in the denomination on the right-hand side (RHS) of the product name. So if you're ...


9

The average inflation rate in the US over the last 17 years is 2.17% per year (source). So he has $30,000 now. If another 3 years go by and he doesn't invest it in anything whatsoever, he would have 30,000/(1.02173) = $28,128 equivalent buying power 3 years from now. I would not focus on how much money he is losing per year, but instead focus on the ...


9

The drop in the value of the pound because of Brexit happened in June 2016. All price movements since then are against a baseline price that already takes Brexit into account, and largely reflect markets’ changing views of the likelihood of hard/soft/no Brexit. It’s gone up a bit recently because the chances of ultra-hard (no deal) or hard (May’s deal) ...


8

It's mostly VAT (value added tax or sales tax). For example an US IPad is $499 without tax, and a German IPad is EUR 499 including 17% VAT. The base price is actually only EUR 417. In addition to that, cost of business is a little higher in Europe because of tax structures and because smaller countries cause higher overheads.


8

To transfer US$30,000 from the USA to Europe, ask your European banker for the SWIFT transfer instructions. Typically in the USA the sending bank needs a SWIFT code and an account number, the name and address of the recipient, and the amount to transfer. A change of currency can be made as part of the transfer. The typical fee to do this is under US$100 ...


8

Presuming that this is the US, the $2 bill is still legal tender, and so is still worth $2. Source


8

With the small interest rate on your loans, I don't think it matters. I personally would keep the cash on hand and consider the interest a 'convenience fee'. My reasoning for that is explicitly because you've managed to get an interest rate that's remarkably low for a personal loan. I think you should re-check the interest rate on your personal loan, ...


7

If you earn Rupees, keep your money as Rupees, and spend the money on items denominated in Rupees, the dollar doesn't mean much to you any more than the Italian Lira means to me.... Do you mean to track as though they were dollars or actually convert as you earn the money? From X-rates, I looked at this chart. There's been a 10% swing in the exchange rate ...


7

The United States two-dollar bill is still legal tender, is still in production, and is still worth $2. That having been said, something is worth only what someone will give you for it. Pretend that I walk into a store with a pocket full of nothing but two-dollar bills, and the clerk in the store looks at them and says, "I don't recognize this. It looks ...


7

Demonetization, in the sense of an individual type of coin or banknote ceasing to be legal tender, happens all the time. With the exception of the US, virtually every country in the world has retired notes and coins in the last fifty years, with in most cases the entire line of banknotes being replaced over that time. In addition many countries have switched ...


6

The right answer to this question really depends on the size of the transfer. For larger transfers ($10k and up) the exchange rate is the dominant factor, and you will get the best rates from Interactive Brokers (IB) as noted by Paul above, or OANDA (listed by user6714). Under $10k, CurrencyFair is probably your best bet; while the rates are not quite as ...


6

Typically, businesses always charge their 'home' currency, so if the shop is in Canada, you will pay Canadian Dollars. Normally you don't have any choices either. Your credit card company will convert it to your currency, using the current international currency exchange rate (pretty good), plus a potential fee between 0 and 5% - depending on your credit ...


5

The simplest answer would be: Because they can. Why charge less for something if people will pay more? One example are Apple products. While there the price number is not exactly the same in EUR and USD, they are so close that, effectively, the EUR product is more expensive. Many things go into a price. There might be reasons for products in the EU being ...


5

No. Suppose you have 100 Canadian dollars and the exchange rate is 2 CAD = 1 USD. You use your 100 CAD to purchase 50 USD (in your bank account that is in USD). Some time later the Canadian dollar grows stronger, so that now 1 CAD = 1 USD. If you now withdraw your 50 USD and get Canadian dollars, you will receive 50 CAD. You have lost half your money. ...


5

Well, first off, I would advise you to do this research yourself. You should not base your selection off someone's opinion (such as mine). That being said, these are some factors I suggest you consider and research before talking to an offshore bank account: The economic fundamentals and political risk of the jurisdictions the bank operates in. The quality ...


5

The Hong Kong Dollar has been pegged to the USD for nearly 30 years and the Hong Kong authorities have fairly strong means to defend the peg. So at first glance it would appear that there is really no difference as long as you are getting 7.75 HKD for each USD that you used to receive. However, the peg is arbitrary and could be lifted at any time like the ...


5

While paying off debt is good, you also want to keep some cash reserve for emergencies. What if your car needs some major repair? You have a big medical bill? Or for that matter, you lose your job and need to keep paying the bills until you get a new one? "Financial experts" often say that you should have 6 months pay in ready cash for emergencies. I don't ...


4

One can pay via Indian Credit Card. The card company will convert the USD and charge you in Rupees. And when there are enough Indian websites that do domain name registering, any specific reason you are looking at eurodns.


4

TOCOM Crude is a cash-settled blend of Oman and Dubai crude oil, both quoted in USD. The daily settlement price is mark to market, but the final settlement price is based on reported prices from Dubai and Oman (or calculated in some cases with a known procedure), averaged and then converted to Yen using monthly average exchange rates as published by a ...


4

Well, you could just deposit the Euros in your French bank. In the US, you'll have to deal with foreign exchange services, unless you're talking large amounts for banks to want to handle (they'll handle small amounts too, of course, but not without a significant fee). Best thing I can think of is keeping them in a drawer with your passport. You'll use them ...


4

You will always pay exchange fees when you exchange currency. The minimum would the the price arbitrage - the difference between the buy and sell prices. Shop around and check where the exchange rate is the most favorable for you and go there. Don't just look for "no fees" signs because the fees are still charged, through a less favorable exchange rate. ...


4

Yes, selling bills is legal. In fact, there are collectors of bills that have curious serial numbers, such as 7777xxxx, 8888xxxx, etc. There are eight digits to the number, I just mean the bill starts with four sevens or eights, as an example. Yes you can ask your bank for a pack of $2 bills. I did this years ago, they told me they needed to order $2000 or ...


4

If you want to convert more than a few thousand dollars, one somewhat complex method is to have two investment accounts at a discount broker that operations both in Canada and the USA, then buy securities for USD on a US exchange, have your broker move them to the Canadian account, then sell them on a Canadian exchange for CAD. This will, of course, incur ...


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