Which currency do you keep your money in?

[rawrschach]

My trading ac is in Euros and my bank acs are in USD and Sterling, which isn't exactly smart. However, fiat currency isn't exactly a smart place to keep your money in either. What are y'all doing about it?

 

[Rhody Trader]

If your trading account is in a currency other than your home one then you're basically making a long-term bet on that exchange rate. For newbies that's not the best idea, but it might be reasonable for experienced folks.

 

[scose-no-doubt]

My trading ac is in Euros and my bank acs are in USD and Sterling, which isn't exactly smart. However, fiat currency isn't exactly a smart place to keep your money in either. What are y'all doing about it?

Not that I have (or ever expect to have lol) that problem but a leveraged hedge would mitigate the risk, no?

 

[rawrschach]

My 'home' currency was amongst the worst performing currencies in the world this year, so that doesn't bother me. It would mitigate the exchange risk, yes, how about the problem with fiat though? Is everyone just dumping into gold?

 

[scose-no-doubt]

well if the fiat collapses what are you gonna do with your gold? sell it?

 

[rawrschach]

If the fiat collapses there will be new currency, possibly gold based...

Just to be clear, I'm not advocating gold, I'm asking what people think/are doing if anything

 

[scose-no-doubt]

I reckon yen. Wonder if you'll get any responses.

 

[rawrschach]

frisky dingo?

 

[neil324]

My 'home' currency was amongst the worst performing currencies in the world this year, so that doesn't bother me. It would mitigate the exchange risk, yes, how about the problem with fiat though? Is everyone just dumping into gold?

Your not from the UK are you:cheesy:

 

[Patricia12]

Is everyone just dumping into gold?

I am awaiting to invest in gold and currently observing international trend for gold.

 

[JRP2891]

My 'home' currency was amongst the worst performing currencies in the world this year, so that doesn't bother me. It would mitigate the exchange risk, yes, how about the problem with fiat though? Is everyone just dumping into gold?

As someone just looking to maintain purchasing power, the rule of thumb is that you always want 10% of your investment exposure in precious metals, however in these times i'd say that should be more like 20%. I'm more than 20%, however I can live with the swings.