Would it be advisable to invest in euros or british pounds since the value of my u.s. dollar is declining. I figure if I buy a couple thousand dollars worth of euros....I would make out good in the long run. Input please......Thanx
2007-12-28 11:32:01 · 2 answers · asked by chris 2 in Business & Finance ➔ Other - Business & Finance
You need to compute first what the difference is between the price you are buying Euros at and the price you would be selling at. At many currency exchanges, the difference between buy and sell prices is 5% or more, plus any commissions for the transaction. That is how much the Euro or Pound has to appreciate vice the dollar for you to make a profit.
I think another 5% decline in the value of the US dollar is unlikely.
2007-12-28 12:06:29 · answer #1 · answered by F. Frederick Skitty 7 · 0⤊ 0⤋
It is my opinion that the exchange rate has about stabilized near the bottom. It would have been a great investment a year ago but now is probably to late. Anybody can jump on but few can predict. The dollar is still the worlds leading currency and I believe it will begin a rebound.
2007-12-28 11:38:39 · answer #2 · answered by Mike M 4 · 1⤊ 0⤋