3 thoughts on ?is buying foreign currency a good investment??

FAQ: is buying foreign currency a good investment?

Several of my family members have shown some concern about the possible devaluation of the American dollar- because it isn?t backed with gold or other commodity. From my understanding, the US government prints additional money to make up for any shortfalls in their budget, furthur decreasing the value of cash money.
I have been told that to ?even things out? that eventually the US dollar will need to be devalued- maybe up to 35% compared to other monetary instruments. This would make my $ 15,000 savings overnight lose over a 1/3 of it?s value.
Investing in foreign currency has been suggested- but my main concern is, isn?t other countries having similar issues? What would be a good investment? My brother says ?buy nickles?- the value of those will increase, because of the material they are made of.
Any recommendations?

www.goldsenze.com Answer:

Buying foreign currencies requires a lot of experience about the movement of the currency rates, besides there is variation in the buying and selling rate. Investment in real estate, gold, stock may be better. If you are an authorized currency dealer then dealing in foreign currency is good.

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