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Which Is The Best Currency To Hold?

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I live in France and have some savings (in euros) in the bank. There seem to be widespread suggestions that this not a good idea.

I'd be grateful for suggestions as to which of the following currencies would be best for retaining the value of savings.

US Dollars

Swedish Krona

Australian Dollars

New Zealand Dollars

Canadian Dollars

Hong Kong Dollars

Japanese Yen

Swiss Francs

Singapore Dollars

Citibank UK now provide accounts in these currencies (as well as Sterling and Euros) enabling any of them to be held conveniently.

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Savings in any currency is a poor idea

I live in France and have some savings (in euros) in the bank. There seem to be widespread suggestions that this not a good idea.

I'd be grateful for suggestions as to which of the following currencies would be best for retaining the value of savings.

US Dollars

Swedish Krona

Australian Dollars

New Zealand Dollars

Canadian Dollars

Hong Kong Dollars

Japanese Yen

Swiss Francs

Singapore Dollars

Citibank UK now provide accounts in these currencies (as well as Sterling and Euros) enabling any of them to be held conveniently.

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I live in France and have some savings (in euros) in the bank. There seem to be widespread suggestions that this not a good idea.

I'd be grateful for suggestions as to which of the following currencies would be best for retaining the value of savings.

US Dollars

Swedish Krona

Australian Dollars

New Zealand Dollars

Canadian Dollars

Hong Kong Dollars

Japanese Yen

Swiss Francs

Singapore Dollars

Citibank UK now provide accounts in these currencies (as well as Sterling and Euros) enabling any of them to be held conveniently.

Hard to say.

If the Euozone splits you would presumably end up with French Francs which could ultimately be worth more than the Euros.

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The Swiss Franc (CHF) is seen as the ultimate safe haven currency at the moment. Problem is all that capital inflow into the CHF has caused its value to appreciate fast. This is not good for Swiss exporters and in turn the Swiss economy, as no one will be able to afford to buy Swiss exports. Consequently the Swiss have been actively devaluing their currency recently and as we speak are seriously looking at rigidly tying the value of the Swiss Franc to the Euro to stem capital in flows.

Another currency that looks good is the Norwegian Krone, but again Norway is too small an economy to absorb the huge capital inflows from investors exiting currencies like the Euro and Dollar, without destabilising its economy. So, it would no doubt competitively devalue by printing money to offset any appreciation in its currency from future capital inflows, leaving investors not much better off.

The currencies of resource-based economies, like Australia and Canada, have also taken a hit recently, as the world looks as if it is on the brink of slipping back into recession. A recession/depression means less demand for products and therefore less demand for resources. Less demand for resources means a weaker economic outlook for those countries that supply resources, which in turn weakens their currencies.

Also, all currencies are also backed by the dollar, which is experiencing difficulties. If it were to collapse, as some proffer it might, then the value of many other currencies may very likely collapse too.

This is one of the main the reason a 'global economic and financial crisis' is talked about. Couple this with recent declines in stocks and it seems there is little room for manoeuvre, certainly as far as the ordinary person/investor is concerned.

Others here might suggest looking at precious metals as a better alternative. I am not as well versed on the subject as I'd like to be and still learning, so I'll leave any advice or opposition on that matter to more experienced posters. It is a loaded subject to say the least, from my observations on here.

I apologise if that isn't very helpful. Perhaps others can at least point you in a better direction rather than just give you the bad news, please don't shoot the messenger!

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I live in France and have some savings (in euros) in the bank. There seem to be widespread suggestions that this not a good idea.

I'd be grateful for suggestions as to which of the following currencies would be best for retaining the value of savings.

US Dollars

Swedish Krona

Australian Dollars

New Zealand Dollars

Canadian Dollars

Hong Kong Dollars

Japanese Yen

Swiss Francs

Singapore Dollars

Citibank UK now provide accounts in these currencies (as well as Sterling and Euros) enabling any of them to be held conveniently.

I would not have my money in Euros!! I would even have my money in US or Canadian Dollars, before I put it into Euros. Of the currencies that you listed, probably the safest is the Swiss Franc. Some people are bullish on Singapore Dollars, but I don't know enough about that currency to comment. My favorite safe currency by far is the Norwegian Krone, which I highly recommend. I also think the British pound is undervalued compared to the Euro.

Experts who have been predicting the demise of the Euro, have predicted that before the Euro disappears (if this happens), it will go to par with the US Dollar. That sounds reasonable, but why would it stop at par? When the Euro was introduced, it was worth only 86 US cents.

If the Euro does disappear or split into two, it will be a big mess that hits the working man hard, just like it did when it was introduced.

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Also, all currencies are also backed by the dollar, which is experiencing difficulties. If it were to collapse, as some proffer it might, then the value of many other currencies may very likely collapse too.

That makes no sense, there is no way the dollar is supporting other currencies.

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That makes no sense, there is no way the dollar is supporting other currencies.

The dollar is the world's reserve currency, and therefore all central banks around the world, to some degree, keep dollar reserves as collateral that effectively backs their own currencies. The collapse in value of collateral held by a central bank, will have repercussions for the value of a nations currency. It's a similar effect to sub-prime mortgages going bad and sinking the private banking system in 2008, had it not been bailed out.

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Thanks to all respondents for the helpful comments.

Perhaps I should have explained that most of the cash in the bank is earmarked for various short-term to medium-term projects, so my priority is to avoid finding it has lost much of its value overnight.

The one message coming through strongly seems to be that holding euros is not a good idea.

Fallingbuzzard: Savings in any currency is a poor idea

I agree. Is there an alternative? (For someone who is not looking to make long term investments but who does need to be certain of being able to cover foreseeable bills)

bulltraderpt Gold.

Is gold practical for comparatively small amounts and for relatively short times?

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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