Hey guys. I have this Question on my mind. In which Currency do you keep your saving money? I mean the money you save each month or year, Do you exchange them to a specific Currency Like Dollar or Euro? Me myself. Here in UAE main Currency is (Dirhams) ( 1 Dirham = 3.65 US Dollar ), So In past years I exchange my Money From Dirhams Into Dollars. I think to change From Dollars to Euros? The Euro is going high this days. Take care.
I save in GBP, for the obvious reason that I have and spend GBP and that it's a moderately stable and strong currency. Plus Individual Savings Accounts (tax free) are GBP only, to my knowledge. Personally though if I was choosing a currency to convert to I'd go for the Euro. Far more stable than the dollar and isn't losing it's self-worth faster than a drunk girl at a college party.
Indeed, £ here. Not much reason for us to change currency as our currency is widely used in this country and stable-ish. Obviously places like russia and italy a few years ago it was silly to use the local currency. Much like zimbabwe and the money being worthless, while it is illegal to hold savings in other currencies. Great.
LOL, Are you kidding me Ramble You don't have dirty secret money hanging somewhere Me my self I don't have that much. In 1 year I save 1000$, I get them from parents I wish that I can work and make my own money, but can't. MY dad work and spend his money on mom and me and brothers. That's how the things works in Middle East. The government rules, You can't have a job befour 21 Yes the dollar is not stable at all. That's why I want to change. I saw most people Here going To Euro. The problem that I want save money now and don't spent them. Because IF they are in the Local Currency, It will be easy to spent them.
Euros all the way, the only reason to go dollar these days would be that 1 EUR = about 3 million dollars. But in case you're not just hunting for large numbers, I would stay away from dollars. I don't have experience of having savings of any kind so I can't really tell if something would be better than euro, but I'm pretty certain euro is still better than USD.
I can't see the login in saving money in another currency! :-( But if i was to save in another it would definitely have to be the EURO!
From an economic point of view, in the current market, Euros would be the obvious choice. Give it ten years and everyone will be kicking themselves for not investing in the chinese currency I suspect...
Cool, Not bad at all. But my saving money will go into the project That i will do this summer. So I will be broke soon Don't feel bad that you don't have money. I didn't spent a lot this year so I ended with a good money for the project, lucky me , huh! Money don't stay in the pockets or under the bed. Edit : I can agree with you on that. But my money don't stay for 10 years. I just want to hold it, To stop me spend it. likely I spend them after 1 or 2 years
Krugerrands are heavily subjected to fluctuation. As they have no intrinsic value, they just follow gold price, which has been playing silly buggers for a while now. If i was you i would have sold them three weeks ago and put the money into a savings account. I would be very surprised if gold goes above $1000 again.
LOL do you think that I can start OIL business with 1000$ , Hell no. The Kings of the oil who buy with Billions will eat me in 1 sec and I will be end with oil Boxes on my room.
