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$¥€ asked in Social ScienceEconomics · 1 decade ago

Should I exchange by U.S dollars to Euros?

The greenback has been falling and I am seeing my hard earned money lose its value, so do you think I should exchange my U.S dollars to Euros to hold the value of my money?

4 Answers

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  • 1 decade ago
    Favorite Answer

    I would buy Australian dollars before I would buy Euros. But the best hedge is to buy gold coins

  • Anonymous
    1 decade ago

    Unless you are going to Europe save your money. Invest in things that retain their value like gold. No body knows what the world will do in 5 years let alone 5 weeks. The euro could fall in a few years and you will be out of luck again. Yes that could happen. Their is no sure fire prediction method in economics. Investing in foreign curency can come back to bite you.

    If you are not leaving the country any time soon their is no point to exchanging your money. The inflation rate in the us has been between 2 and 4 percent for the last decade. Your money is not loosing its value fast enough to make the exchange fee worth the transaction.

  • Anonymous
    1 decade ago

    No, the dollar is too weak and it would be too expensive to buy euros at the present time. Granted the dollar may weaken further against the euro so please research before you move forward, and pay close attention to the politics of the day, the democrats practice a strong dollar policy and if they take over in DC you'll lose on your investment b/c the dollar will soon strengthen.

  • john k
    Lv 6
    1 decade ago

    Sure it could be a good idea or you might be like the stock trader that after the market has plundged he then sells his and sits and watches the market as it gains again only to finally jump back in and buy high.

    You usually will do better holding or buy low and selling high, as it tends to create big loses selling low and buying high.

    But hey it could keep falling.

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