I am an English citizen, and am awaiting a US Dollar payment on a job I did overseas. With the Pound so strong against the Dollar right now, I am reluctant to receive payment into my UK bank account which will automatically deposit the money in Pounds.
Can anyone recommend a way to somehow put my US Dollars on hold, or convert to another currency that is tipped to rise - is this called currency speculation? In essence, is there some way to get round, at least in part, my devalued payment in Pound Sterling?
2006-12-02 12:01:09 · 13 answers · asked by JJ Sam 1 in Business & Finance ➔ Other - Business & Finance
just convert it now. theres no guarantee that the u.s. dollar wont drop even further in value. if u really want to invest, then buy real estate in the states. u dont have to be a citizen. maybe that will go up in value.
2006-12-02 12:03:11 · answer #1 · answered by Anonymous · 1⤊ 0⤋
My suggestion would be open a us dollar account here in the UK and get paid in dollars. You can then look into ways to invest in the US to at least increase your total value to recover some money. (My advice dell computers stocks)
I think it is not possible ot invest in real estate as somone suggested as you need a green card to do this.
Final point is currency markets can go any direction quickly these days. If we could predict it there would be a lot more millionaires around. Get your money as a bird in the hand is worth two in george bush!
2006-12-02 20:21:08 · answer #2 · answered by Xiao Ma 1 · 0⤊ 0⤋
You contracted to do the job for US Dollars. So you get dollars. My meaning is that if you wanted to be paid in pounds, you should have asked for the equivalent amount of dollars.
The US dollar is not going to go up in value against any other currency any time soon, and may even go down. We owe gazillions.
With the pound and the euro currently as stable as they are, and since you agreed to do the job for the pounds that the dollars they are paying you represent, and since the dollar probably will go down against other currencies, you should take the money and run.
2006-12-02 20:13:32 · answer #3 · answered by sonyack 6 · 0⤊ 1⤋
Why dont you open an account in the US and get the funds deposited there. You will gain interest, even if the dollar falls futher. Or you can have it deposited into a money market account where the returns are higher than a regular account, or a mutual fund in the BVI.
2006-12-02 20:14:30 · answer #4 · answered by roast_breadfruit 3 · 1⤊ 0⤋
Ask your bank to open you a dollar account and deposit the payment there, once the xchange rate is more favourable you can transfer the sum in dollar from your Dollar account to your GBP account.
2006-12-02 21:45:17 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I know people who are working abroad & getting paid in dollars
they have not found away round it.Can you set up an off shore account there is no quarenties the dollar will fall.Good Luck
2006-12-06 15:30:51 · answer #6 · answered by Ollie 7 · 0⤊ 0⤋
I believe Werewolf Dollars are going to rise in Romania once they join the EU. If not then then the vampire home earth will reach a peak on the funeral exchange.
2006-12-02 20:06:23 · answer #7 · answered by David D 1 · 0⤊ 0⤋
The pound takes steroids. The dollar takes bribes.
2006-12-02 20:03:10 · answer #8 · answered by Anonymous · 0⤊ 0⤋
The pound, at the moment, is stronger than the dollar, so if yu get paid in British pounds, you will have more money that if you got paid in US dollars!
2006-12-02 20:05:04 · answer #9 · answered by Anonymous · 2⤊ 1⤋
get it exchanged for euros they are becoming stronger against the pound they were 1.75 = 1 about 6 months ago but now they are about 1.44 = 1
2006-12-02 20:04:37 · answer #10 · answered by ZappBranagan 3 · 1⤊ 0⤋