Access to Foreign Currency
Hi Terry – I see people are inquiring about access to foreign currency. Rather than converting money into say Euros anndhanging onto them I am interested in knowing if there are specific bank accounts for foreign currency. Are you familiar with Wise? Do you recommend it? Thank you!
Terry Says
Why do you want foreign “paper” currency? If you go to Europe, just take a credit card with zero transaction fees, and use it to shop or pay for your hotel.
Few people use paper currency today. But if you go to an international airport, you can get cash euros at the exchange kiosks there. Warning: You’ll get a terrible rate of exchange!
Do you want to speculate against the value of the dollar? It has soared recently against the Euro. YOu can speculate on the future value of the dollar using futures at CME Group. You’ll do this through a commodity broker.
If you just want “exposure” to international companies/currencies, you might read this article.
