USD is going down?

[USaffiliate]

The USD currency keeps going down. You guys think I should exchange my money to something that could worth more USD in the future or better keep it the way it is? And in general, what's going to happen with this currency that keeps falling non-stop?

[LemonPromotions]

Personally I think its a worldwide issue and whatever currency you choose is going to be hit.

I am hearing from friends all over the world that are being affected directly, from Indonesia where the power stations are running out of coal over to you guys in the USA who one day might pay as much for fuel etc as we do in the UK.....can you imagine paying $12 for a pack of cigarettes or $2 for a regular loaf of bread, maybe even $6 for a pint of beer.....we don't have to imagine it, thats how it allready is in the U.K.

[Flex-Finance]

Currencies fluctuate all the time. Always have. It will take a long time for the US dollar to not become the default currency but you never know, things are changing in the world.

If you are dealing with large value transactions you can hedge the fluctuations by being paid in different currencies or holding funds in currency accounts. If it is only small amounts then it is usually not worth it as gains will be eroded by fees and trading spread.

HSBC do some good currency accounts. Look into your tax position before doing anything though.

[TheBoyMitchell]

Put in into Zimbabwean Dollars - you'll be fine. I promise

Play the long game....

[Barry]

Yeah def be a billionaire right now if my money was in Zimbabwean Dollars. lol


Ta

Baz

[kceleb9]

The dollar is going to continue to fall against the Euro. Our trade deficits and budget deficits guarantee it. Also the fed will have to maintain lower interest rates to try to help with the credit crunch. So we are heading for growing inflation - and contuing falling dollar. I hold all my main money in Euro Bonds for pas 3 years - and im up 40% on that alone.

[ErkiNOxx]

Originally Posted by USaffiliate The USD currency keeps going down. You guys think I should exchange my money to something that could worth more USD in the future or better keep it the way it is? And in general, what's going to happen with this currency that keeps falling non-stop?

Exchange all your money in EURO's.

[findlite]

Think it has to be Euro's at present. Having said that everyone is suffering at the moment across the world and its going to take time and effort to ready the ship.

Thats another thread though.

[John Jupp]

£1 = $1.9820 at the mo. Forex rates.

Euro has lost 3 eurocents to the dollar today at 1.5694

Euro has lost 8 eurocents to the pound today.

[lemon2x]

depends on what u do your shopping. i live in romania, but i try to shop in the usa as much as i can. that way i don't get hurt so bad

[aotagain]

Remember when the Euro was worth diddly squat and was going to collapse ?
Remember when house prices were never going to recover in 1990 ?
Sell high, buy low - easy to say. Psychologically difficult.

I've been sitting on dollars from Adsense for about 4 years now, because there was no way I was going to convert them to pounds at the rate they were at. Getting worse now, so even more reason not to get out, but more difficult not to as you see them dropping.

The problem is that the cycles are really long and boring, especially if you want the dosh for a holiday.

[aotagain]

Zimbabwean dollar is an interesting idea, but have to look at whether anyone has a vested interest in rescuing it. Any countries who might benefit from a change in regime and the awarding of contracts within the country to help rebuild it. Get paid in that currency and then have some influence over its appreciation.

With the Euro, there was a lot of political pride and credibility to be lost if it went awol.

Oh dear, I seem to have hit a cynical period.....