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!!!
Public Comments
- You can open deposit accounts in foreign currencies and buy foreign currency CDs at Everbank - one of the few places, if the only place, for a US resident to easily do this. http://www.everbank.com/
- I would second the above answer. Everbank.com. Easy to do. FDIC insured CDs.
- I suggest ETFs. Contact Rydex for more detailed information. They offer Mexican Pesos, Kronas, Australian Dollars, British Pounds, Canadian Dollars and Francs. Top 5 Answerer in this category.
