Foreign Currency Knowledge Base
Foreign Currency? What is the best Foreign Currency to use when going to Puerto del Carmen in Lanzarote ????? Cash,Travelller cheques,Travel Money card????
What is the best way to buy and hold foreign currency in US? I am trying to buy and hold some foreign currency. I currently only have a checking account and an online savings account, both in US and for US dollar only. What is the best way (i.e., safe, inexpensive and easy) for me to buy and hold a particular foreign currency (e.g., Japanese Yen)? I am not looking to trade foreign currency very often. Just buy and hold. Any expert or experienced folk out there? Is the internet the only way to invest in foreign currencies?
What is the foreign currency on These countries? I have to do a project and I need help do you know any places or can you answer them. What is the foreign currency on... Mexico Panama Puerto Rico Argentina Venezuela Bolivia Brazil Cuba Ecuador Chile And what is the exchange rate with the U.S dollars with these countries? You are helping alot! Thanks!
Where do I go to get foreign currency in northeast Ohio? I am trying to find out where to go to obtain foreign currency. We are putting on a production at my church and we want to use foreign coins in our marketplace. I have checked around and so far I have only found online sites to do this through. Thanks in advance for your help.
Besides most commercial banks where can I go to exchange foreign currency? Besides most commercial banks where can I go to exchange foreign currency? I traveled to Niagara Falls, Canada in 2005. On the way out of the country I had an impaitent bus driver who would not allow me to stop off at the Duty Free shop to exchange the currency. So I came home with just under $20 in Canadian Currency. I've held onto this money since last year. Every commercial bank I've called require you to be a customer. My credit union doesn't accept foreign currency for deposits. So I feel like I'm stuck with this money I can't use. If I knew someone going to Canada perhaps I could offer to "sell" it to them but in lieu of that I don't what to do with this money.
Best way to obtain foreign currency when traveling? I've been told that while traveling overseas the best exchange rate and easiest access to foreign currency is to use an ATM, and that even with bank fees and conversion % ($2 and 3% respectively), it is still the optimal method. My question is, are there any places within the United States online or not, that offer rates similarly to that of foreign ATMs? Most places I have found are anywhere from a 7 - 10% increase on the foreign conversion rate [found on XE], plus shipping fees. Or is it easier to just get money out at an ATM upon arrival and not take any with you? I am also curious as to what markup is typically present at ATMs when compared to XE values. I will be traveling to London and most of Europe, including Switzerland and Czech Republic. So I know that I will need at least 4 currencies. I would just like to minimize fees as much as possible especially since I will be dealing with $2000 to $3000. I'd like to avoid giving banks free money as much as possible! I have a capital one credit card that has 0% on all fees, which I intend to use for most all purchases, and hopefully have access to my online account sometime to pay it all off every week or so. That will likely drive down the amount of money I need to take out a lot, but there are still a lot of places that will not accept Visa that only cash will do. I am not comfortable giving my credit card to restaurants where it will be taken out of my sight when on vacation, so I will still need a fair amount of cash.
How do you do the accounting for fixed assets purchased in a foreign currency? When a company purchases fixed assets in a foreign currency, do they value the fixed asset back into the USD amount at the date the asset was acquired or what? The asset is being carried on the foreign subsidiary's books at the amount in Japanese yen. I'm a little confused about this. Can someone provide details, or provide a source where I can find good information on this topic? Thanks.
where is the best and safest place to buy foreign currency? i'm looking for a website that isn't a scam that will allow me to buy foreign currency (pounds and euros) without huge fees. the website i have found so far with the lowest fees is wells fargo currency exchange. does anyone know of another website that will let you buy foreign currency as close to the exchange rate as possible? thanks for the help!
I found a piece of paper that appears to be foreign currency. How can I find out where it is from? I have a peice of paper that I believe to be some sort of foreign currency. I have no idea how to identify it. I have tried numerous websites and cannot find anythig to help me. Anyone have any ideas? On one side of the bill there is a picture that appears to be a skinny Buddha and on the other side there is a stamp of a three headed elephant. The only English text is a number on the bottom corner that says 500,000,000.
Are there 24hr foreign currency exchange in Changi Airport? My flight will arrive past 12 midnight via budget carrier. I need to change US$ into SG$. Does Changi Airport have a foreign currency exchange counter or bank? Do they operate 24 hours a day or at least operate up to 1am? Yes, I understand it's not good rates. I just want to change enough to pay for the fare from the airport to the hotel. How about the budget terminal? My flight is Tiger Airways which uses the budget terminal.
In the US, can I open a bank account in a foreign currency? I know nothing about banking, so this may be a dumb question. I do not want to exchange foreign currency into USD and then put it in a savings account. I want to keep a US savings account in a foreign currency. Are there any banks that offer this type of account in the New York area? Thanks in advance!
How do I invest in foreign currency? I am worried about dollar devaluation. I have seen that Buffet and Gates are pulling out of dollars and investing in Euros and other foreign currencies. They are going as far as taking out full page ads in papers to warn others, so I gather that they are serious. My bet is that the dollar will tank later this year or in the near future. Also, if I open a Swiss bank account, do they keep my money in Euros? Basically, I am just looking to buy and hold. I don't want to be a forex day trader. An ideal investment to me would be to put my money in a foreign currency and then buy some sort of stock or mutual fund or index or commodity or whatever. I just want to get some of my money out of dollars for when the bottom falls out, i.e housing market crash, Iran war, countries reducing $ reserves holdings, GM bankruptcy, etc.
where can you exchange foreign currency in coins? is there a bank or a place in the uk where you can exchange foreign currency in coins? I have alot of euros and maltese lira, but it's in coins. When I went to HSBC, they said that they cannot exchange coins, but it would be a shame to waste the money!
Foreign Currency Exchange at which bank? I'm going to the US soon. Do US banks charge for a fee when you exchange foreign currency to US dollars from them? Where is the cheapest bank/place to get a good exchange rate? Thanks.
Buying foreign currency as an investment? I'm an American working in Canada; with bank accounts in both countries. There's been lots of talk about the US dollar plummeting and how the economy could possibly tank, sooner rather than later... I've heard that buying foreign currency is a decent way to protect my money. Should I keep my money in my Canadian bank account instead of transfering it monthly, like I've been doing, into my US account?
Paypal International Foreign Currency Fee? Hey i'm in new zealand and i'm planning to send money with paypal to a person in china cause i brought stuff off him. who will pay the international foreign currency fee? me or him? will i get charged any fee sending money to china?
What is the most efficient way of buying foreign currency? If I want say £100 worth of Euros should I get it from my bank, the post office, the airport, draw the money out from my bank using a foreign cash machine or buy stuff on my Visa card while abroad. Is one cheaper than the other? I'd love to know the most efficient.
How can someone get the best currency exchange for their foreign currency? I traveled and came back to the US, with a bunch of currency from Trinidad, Costa Rica and the Dominican Republic. How can I get the best exchange to US Dollars, as close as possible to the going exchange rate? I traveled and came back to the US, with a bunch of currency from Trinidad, Costa Rica and the Dominican Republic. How can I get the best exchange to US Dollars, as close as possible to the going exchange rate? I am exchanging the currency in New York. Also, compared to the listed exchange rates for these currencies, what percentage of the cash can I expect to get back when exchanging? for example, for one of the currencies the rate was approx. 34 units to 1 US$ on a particular day, yet a currency exchange place was offering 41 units to 1 US$. Is this a reasonable difference?
In the US, Is it legal to purchase foreign currency directly from individuals? I'm planning a trip to Europe, and instead of paying the commisions, and accepting the terrible exchange rates banks offer, I was thinking of buying left over currency from people returning from Europe. Is it legal to do so, or do I have to buy my British pounds, etc. through a bank or the "change" bureau at the airport? Thanks.
Where can I buy laminated foreign currency to use in language classroom? I have some laminated French francs that are marked "For Educational Purposes Only" that I give away in my French class as prizes for games, etc. I would like to buy something similar to use in my Spanish class. Any ideas on where to buy an educational currency from any Spanish-speaking region? Thanks!
Best credit cards for foreign currency purchases? It used to be a good deal to use a credit card to make purchases overseas because they gave a current (and fair) exhange rate. However, I was surprised to recently find out that my credit card issuer (Chase) charged me a 3% service fee on all foreign currency transactions. Is this now a convention among credit card companies? Or are there better credit cards out there for foreign currency purchases? Thanks.
What is the best way to convert cash to a foreign currency? bank? airport? forex? I am guessing that a bank will generally be least expensive. I'm considering converting a fair amount of USdollars into another currency (no not the Euro) and storing it for a while. I appreciate your insights Charles. I guess I should have mentioned that I don't plan on going to the other country. A local bank said they will change a minimum of $200 USD for $10 for account holders and that there's a 48 wait. They didn't mention if the conversion rate would be given before the 48 hours. I've also put a question up on what is the general minimum that banks,etc will exchange.
How can I exchange foreign currency into US dollars? I live in the USA and I do art commissions and I post my art on DeviantArt, I wish to be able to take commissions from people over seas but I don't know how the whole currency difference can be resolved. I'd prefer to do it through snail mail of some sort, but I don't know where to look into this or how to go about it so I can take over seas commissions, anyone know where I can go, or how this can be done?
foreign currency? Yes where or what button do I push to find out what a foreign money is with the current bid that I have and figure out what the shipping charges are in their money in United Kingdom.????
foreign currency loans and forward contracts, how to exploit dollar weakness? here is my scenario: i live in the US. I have both US and EU citizen ship. i have a residence here in the US and also one in Europe. i have a student loan at a US bank denominated in US Dollars. my goal: i believe that the us dollar will gain in strength over a foreign currency, and having the debt payable in foreign dollars will lower my real cost eventually. here is my question: i would like to take out a new loan in EU or other foreign currency to replace the old loan. Otherwise, I would like to sell a forward contract in foreign currency for the time the loan runs off. does anyone know a major bank offering loans in foreign currencies? since the loan is already in US dollars, how do i instead make a forward contract in selling the foreign currency? i am now set to make monthly payments in dollars for the next 15 years. do i sell a contract for one year and next year sell another? or are there 15 year contracts? sell this contract like equity options when one "writes a call"?
Foreign currency vs US Savings Account? I recently moved our family finances to the E*Trade bank (good% rates, free ATM), and the "Global Trading" accounts caught my eye. We're saving for a house and want to make a very large down payment (large for us anyways)..and want to keep that money liquid. E*Trade is currently paying out 4.7% on the savings account, but I'm wondering with the continued slide of the Dollar, and my easy access to foreign currencies via the "Global Trading Account", would it be a semi-smart move to have a fair amount of our savings sitting in foreign currency? E*Trade pays out almost zero % on money sitting in the foreign currency....but if the dollar continues to slide like I think it will, is foreign currency a valid place to stow that money for a couple of years while we're saving? I'm not talking about constantly moving currency back and forth, so what are my downsides? E*Trade fees? Taxes when I convert the currency back? Any thoughts are greatly appreciated!
Foreign currency vs US Savings account? I recently moved our family finances to the E*Trade bank (good% rates, free ATM), and the "Global Trading" accounts caught my eye. We're saving for a house and want to make a very large down payment (large for us anyways)..and want to keep that money liquid. E*Trade is currently paying out 4.7% on the savings account, but I'm wondering with the continued slide of the Dollar, and my easy access to foreign currencies via the "Global Trading Account", would it be a semi-smart move to have a fair amount of our savings sitting in foreign currency? E*Trade pays out almost zero % on money sitting in the foreign currency....but if the dollar continues to slide like I think it will, is foreign currency a valid place to stow that money for a couple of years while we're saving? I'm not talking about constantly moving currency back and forth, so what are my downsides? E*Trade fees? Taxes when I convert the currency back? Any thoughts are greatly appreciated!
Foreign currency Fee.? Hi everyone here's the situation: So I'm traveling to Israel this summer. As you know, anytime I buy something with the dollar (in my case with amex credit card) in a foreign country that has a foreign currency, you get charged. SO... My QUESTION is: What's the best and most creative way to save some money while doing this. I have heard that it's worth it for me to get cash advance from my credit card. Is this a good choice? And what other some better choices to save money on the foreign currency fee. Please give intelligent answers. Thanks, Michael.
Currency Fluctuation + Foreign Interest rate? Any experts out there who can tell me what the currency ( any foreign currency) + Foreign Interest rate ( of that same currency ) would equal as a product? What would you call this kind of investment?
Foreign Currency Savings and Paypal? Foreign Currency Account in Australia and paypal? Question Details:Is it possible to set up a foreign currency account with a bank in Australia which can dominate funds in USD? I also need another one in GPB, what are my options? Does Commonwealth Bank offer the services to its everyday customers (i.e. I don't want to open a business account)? I need a savings account, not a term deposit. I know HSBC or whatever they are called provide the services, but I already have an account with CBA so I don't want to open another account with another financial institution. Also with paypal (Australia), is it possible to add funds to your USD balance using your bank account dominated in USD or will it accept AUD only?
Foreign Stock/Foreign currency? is it profitable to hold a foreign listed stock (NOT ADRs) and hold THAT countrys currency in a bank account in that country all at the same time?
Foreign currency forward pricing problem? I have been trying to solve this problem and I don't know where to go. A company enters into a forward contract with a bank to sell a foreign currency for K1 at time T1 . The exchange rate at time T1 proves to be S1 > K1 (NOTE, S1 is the spot price at T1). The company asks the bank if it can roll the contract forward until time T2 > T1 rather than settle at time T1 . The bank agrees to a new delivery price, K2 . Explain how K2 should be calculated. I'm thinking there should be a time adjusted difference between K1 and S1 factored into the new price along with the spot price at T1 (S1). K2=(2*S1-K1)*exp^((r-rf)(T2)) I'm not sure what direction to go in after that. Maybe I'm thinking about this too hard, but I feel like I'm missing something.
foreign currency from the 50's? hi i have a bunch of foreign currency from when my grandfather was in ww2 greek, italian, german, yen & polish does it have any value now?
foreign currency money frame? i found a picture frame at a yard sale, that is 16" wide x 40" tall, it has 25 foreign currency paper money bills in it. they told me that they made more sets of these. does anybody know where i can get these or how much do they cost and can you still buy them. or where can i go online to find them. i searched ebay and google search and can not find them. please help
Has anyone purchased EverBank's Foreign Currency CDs? I was looking to invest in foreign currencies and one way is investing in EverBank's foreign currency CD's. The minimum investment is $10,000. There are various time periods starting with 3 months. They are FDIC insured for the bank failing, but you are susceptible to currency fluctuations, Thanks!
Buying Foreign Currency? Is it best to buy foreign currency before you leave home, or change your money once you get there?
What banks do with foreign currency they get? very simply, when a country imports goods, and pay in foreign currency ($), what happens to the domestic currency, as the same amount will still be in circulation, but you have just put ur money in ur own countrys bank, and took dollars to pay some. or does the bank get rid off (destorying) the same value in domextic currency, as you changed your money into dollars to pay someone abroad? to put it simple im from UK, i buy something from USA, i go to my bank give them £10 and they give me $20. i pay $20 to USA, BUT my £10 is still in my country!! is that correct? or will the bank destory my £10, as ive changed it and its still in the UK. and too much money would be around. or is it something totally different?
could i have foreign currency in china? could i have foreign currency in china physically and do business with the other people from other country online because i hear there is a webcast from Bill Gates say a lot of people in china and India doing business with those in the US, what to take care if i issue a card that can send or receive foriengn currency like US dollar
Help on foreign currency please x? I am going for a 2 week holiday to Zante on 1st June (cant wait) but my partner and are going self catering so will need to take about £600 worth of Euros. What is the best way to take it, travellers cheques ? or these new foreign currency cards ? and has any one used these new cards and if so do most places accept them and which works out better exchange rate wise? Any help greatly appreciated, thank you in advance xxx.
Experience with Forex (foreign currency) brokers? I am an active investor, have done well with common stocks, Nasdaq and NYSE, but am new to foreign currency exchange. I do my own homework, and have had mixed experience with several forex brokers over the past months. I have used FXCM and Saxobank in London, both are rather large firms. While seeking a mentor, I recently received a promotion in the mail from an Atwood and James, which appears to be a small operation, but the fellow seemed to know a bit about forex, and spent the time to share his experience. So far, with the larger firms I am ahead of the game, but only slightly. Any suggestions or help or experience with smaller brokers? Anyone have experience with these Atwood and James people?
Pro/Cons of Using the Dollar as Foreign Currency? Can someone explain to me the pros/cons of adopting a foreign currency instead of a countries own currency? For example, Ecuador which uses the US dollar instead of its own currency. What does it lose when it does not use its own currency? What about monetery policies? Can somoeone explain what a country gives up by not having its own currency?
web site on foreign currency? i am doing a project on the dollar to the rand and i need to find a web site on foreign currency. do you know one ??? please help
What is the best way to buy and hold foreign currency in US? I am trying to buy and hold some foreign currency. I currently only have a checking account and an online savings account, both in US and for US dollar only. What is the best way (i.e., safe, inexpensive and easy) for me to buy and hold a particular foreign currency (e.g., Japanese Yen)? I am not looking to trade foreign currency very often. Just buy and hold. Any expert or experienced folk out there? Is the internet the only way to invest in foreign currencies?
What is the best way to buy and hold foreign currency in US? I am trying to buy and hold some foreign currency. I currently only have a checking account and an online savings account, both in US and for US dollar only. What is the best way (i.e., safe, inexpensive and easy) for me to buy and hold a particular foreign currency (e.g., Japanese Yen)? I am not looking to trade foreign currency very often. Just buy and hold. Any expert or experienced folk out there? THANKS!!!
Best time of day & week for foreign currency exchange? I am wanting to purchase foreign currency (GBP to NZD) via a on-line service. I was wanting to know if there is a day of the week and or time of day that it is best to do this to ensure getting the best rate. For example: 6.30GMT Friday when the markets in New Zealand have just closed or 21.30GMT Sunday when the market has just opened in New Zealand. Basically wanting to know when a currency is usually at it's weakest
how to invest in foreign currency? if you think the dollar will still go down how can you invest in foeign currency? Can you just deposit cash in a foreign bank? And also earn interest?
As a U.S. citizen, can I purchase foreign currency & invest or receive interest on those $ in a US account? Can I buy euros or yen for ex; in a US brokerage account? Or can I only hold the foreign currency in cash? How can I protect my US cash from being de-valued other than to buy foreign ETFs, foreign stock, etc...? I DO want interest or to invest as the currency (not US dollars) and receive capital gains or dividends as the currency I've purchased. The whole futures arena seems scary but I haven't studied it much. I guess buying and holding a currency IS investing in it's future value so same thing, huh? And I'd prefer to keep the $ in a US bank or brokerage...Thanks for the ideas, I'll check them out!
Could a check drawn on an American bank be written in a foreign currency and used in another country? Couldn't I AM NOT PLANNING TO DO THIS. IT IS JUST FOR MY KNOWLEDGE. 1. An American credit card can be used in most countries in the currency of the foreign country. 2. An American check can be written in American dollars and used in a foreign country assuming someone will accept it and is willing to pay any charges. 3. So could I just cross off the word dollars and change it to something else and use it. This is assuming someone would accept it and is willing to pay any charges at their end. Just what are the legalities? Couldn't a bank just handle the exchange in the same manner as credit cards? Obviously there would be a service charge at this end. Ignore that extra word at the end of the question. Don't know where it came from. Concerning statement 2. I received a check from the UK in pounds and had no problem cashing it. What if the check indicated US dollars? Would either my bank say no or the issuing bank bounce it back?
Should I take my bank account and invest it in a foreign currency? Okay, if you've been following the news you might now that the U.S. dollar is losing value on the world market. *Fast.* It's lost so much value that the Us $ is worth less than a canadian $ and dropping fast... http://www.theglobeandmail.com/servlet/story/RTGAM.20071019.wdollarhigh1019/BNStory/Front All this has me in a sweat. Should I close out my modest bank account (or at least take most of it) and invest in a foreign currency or something else stable before the dollar is devalued so badly my account is technically worthless? Should I buy things like food/clothes/basic supplies in anticipation of a crash? Whatever I do I CAN'T simply stand and hope it'll work out. By all signs it's too late for that. Any money-savvy people have some advice here? The sooner the better?
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