Which currency should we hold our savings in?

Discussion in 'Money & Investing' started by Getsuyobi, Oct 19, 2007.

  1. Getsuyobi

    Getsuyobi New Member

    My husband and I both pretty $ ignorant.

    Despite our ignorance, we have managed to amass a pretty healthy savings.

    Most of it is in USD, and the remaining is in CAD and GBP.

    We currently live in the US, continue to generate more USD, but do plan to move to Canada in the next year or so to settle down in a new home.

    With the USD and CAD $'s so close in value - [coupled with my concern about the reliability of the USD] - I am wondering if we should be converting our USD into CAD now, as we go? We will be converting the lot next year, when we do go house hunting.

    Web links that can help - direction, etc, would be great!

    Thanks
     

  2. MenInTights

    MenInTights not a plastic bag

    On my website, I deal with Australian dollars, Canadian and USD. I keep the AUD and CAD as long as possible before converting them. Just yesterday the IMF said the USD is STILL overvalued! I think we are looking at a capitulation of the USD. Further, i think it will happen very soon. Like before the end of this year.

    As far as links, etc. I would encourage you to look up and read the IMF article from earlier this week.
    ------
    The IMF is now talking about dollar capitulation:

    IMF chief warns dollar may suffer 'abrupt fall'

    he head of the International Monetary Fund, Rodrigo Rato, warned Monday there are risks of an "abrupt fall" in the dollar, linked to a loss of confidence in dollar assets.

    "There are risks that an abrupt fall in the dollar could either be triggered by, or itself trigger, a loss of confidence in dollar assets," Rato told the IMF board of governors.


    I am bracing against the Dollar falling. There also are ways to make money off the fall and I am planning for that also.
     
    Last edited: Oct 22, 2007

Share This Page