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Should You Save Foreign Currency Rather Than Saving Local Currency?
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[QUOTE="sincerem, post: 239169, member: 25228"] If you local currency has value then their is no need holding much of a foreign currency. I am holding USD at the moment dye to the fact I work online just as you do, and again my country's fiat currency is weak, trailing others currency by large volume. Such constituted the reason why I don't save funds much in my local currency due to it's devaluing nature caused by high level of inflation. Do, saving in USD gives me value for my monetary assets, due to the fact that, it is always on the rise. In the past 24 months that I started earning money online, my country's fiat currency have always been on the trailing side to USD. USD have gained over 20% increase since then, which shows how valuable the USD have been in the last 24 months. And if things continue going at the tough end here in my country, it will get more devalued, which will result in more devaluing and it will trail USD by wider margin. I don't care much about it's devaluing since our heads aren't doing anything tangible to make it valuable anytime soon, because my funds are always stored in USD. [/QUOTE]
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Should You Save Foreign Currency Rather Than Saving Local Currency?
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