What is the best way to buy and hold foreign currency in US?
August 4th, 2008
shysteepinoy01 asked:
I am trying to buy and hold some foreign currency. I currently only have a checking account and an online savings account, both in US and for US dollar only.
I am trying to buy and hold some foreign currency. I currently only have a checking account and an online savings account, both in US and for US dollar only.
What is the best way (i.e., safe, inexpensive and easy) for me to buy and hold a particular foreign currency (e.g., Japanese Yen)?
I am not looking to trade foreign currency very often. Just buy and hold. Any expert or experienced folk out there?
Is the internet the only way to invest in foreign currencies?
OHANLON
See Everbank. They offer foreign currency accounts and CDs (although I think the interest rate on Yen is zero, so there’s not much point there.)
An international bond fund httpwwwtrowepricecomcommonindexfundfacts00tickerrpibx00html but why would you do this now the dollar is at historic lows should have done this now the dollar so low now.