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    Current page location: Home > Answers > Is it a better option to convert US dollars to foreign currency and hold onto them until the value rises and then sell or purchase on the Forex instead?
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    Betty Green
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    Is it a better option to convert US dollars to foreign currency and hold onto them until the value rises and then sell or purchase on the Forex instead?

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    • Time:2018-11-05 15:25:38
    Is it a better option to convert US dollars to foreign currency and hold onto them until the value rises and then sell or purchase on the Forex instead?
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    Krise Wu
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    Currency rates change very slowly* so you’ll need leverage (i.e. trade on forex) if you want to see any profit (or, more likely, loss). Also, banks and retail currency exchanges work with abysmal spreads (even more so at airports and train stations) so you’ll lose money each time, no exception.

    * Unless the UK goes Brexit, Russia or Mexico defaults, the Thai baht or the Swiss franc gets unpegged, and the like…

    #1Floor 2018-11-05 17:13:02 Reply(0)
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