What is the best way to invest in foreign currency? Is there any way to simply purchase euros and earn interes

I would like to buy some foreign currencies, and would like to buy some different kinds. Anybody know?

Public Comments

1. There are many web site out there that you can buy and trade currency. I have found that www.fxcm.com has been the most helpful. They have everything that you need to learn how to trade and most of it is free. They also have a few classes for $19 that are well worth it. Check them out they are alwasy there and very helpful, they want you to make money so they make money. Hope this helps good luck. P.S. Don't trade until you undersatnd the basics, I made the mistake and lost money when I first started. Mark
2. Check out http://www.currencyshares.com. You can purchase these ETFs with the underlying being a foreign currency. They seem to pay a monthly distribution.
3. Open an account at Oanda buy whatever you think will pay the best interest rate. Currently the New Turkish Lira is good. You can short the dollar against the lira and make interest every day. The downside is that the lira could tank anytime, especially with the war situation in southeast Turkey/ Northwest Iraq.
4. Hi Foreign currency trading or investing is a tough business so whatever you do, get some good advice before you commit any money to it. You may hear of the good profits that some people make, but for every winner, there is usually a loser that you do not hear about. There are hundreds of currency trading articles at the site http://www.currencytradingpro.com which should provide some good tips. Good luck Tony