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Should You Save Foreign Currency Rather Than Saving Local Currency?
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[QUOTE="Jasz, post: 239164, member: 61772"] This is a common question among investors, and there are generally two answers to this question. The first answer is that you should save foreign currency because it may be more valuable than your own. In countries where the local currency is not accepted as a form of payment, or where it is highly taxed, it may be necessary to save foreign currency in order to make purchases or pay bills. The second answer is that you should not save foreign currency because it could lead to inflation, which could eventually cause your savings to be worth less than they were when you started saving them. In order to determine if you should save foreign currency rather than saving your own, you need to consider several factors. First of all, what type of investment do you want? If you are looking for short-term gains, then saving your own money may be a better choice than saving foreign currencies, since short-term investments usually have less risk associated with them. However, if you are investing for longer term goals such as retirement or education expenses, then saving in a foreign currency may be a good idea since these types of investments tend to have higher returns over time and will help protect against inflation as well as provide some tax benefits. [/QUOTE]
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Should You Save Foreign Currency Rather Than Saving Local Currency?
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