Currency

maxitwist

Im thinking of placing some money in currency over the summer as an investment, looking at currency trends for the us dollar over the past few years it seems to me like a fairly viable option. But i dont know how to get the exchanges i see on x-rates.com, orthe like.
Today i stopped by aib to see their rates and they say:
We buy : 1.46 We Sell 1.39
Im not sure what this means, i can assume : €1 will get you 1.46$, $1.39 will get you €1.. Wait actually that doesnt make sense.. Okay im guessing here.. can someone fill me in here? (preferebly without making me feel stupid) Okay thanks, ill leave it at that for now and ask any other enquiries after i get this basic seteled.

EDIT: Is there a better place to trade currency, where youll get a better rate? thank yous!

Ricky92

1 euro = $1.39 they give you 1 euro for $1.46
But imo I think your a fool if you are to hold the us dollar. If you want to make some money bet against the dollar and buy silver

arrowloopboy

maxitwist wrote: »

Im thinking of placing some money in currency over the summer as an investment, looking at currency trends for the us dollar over the past few years it seems to me like a fairly viable option. But i dont know how to get the exchanges i see on x-rates.com, orthe like.
Today i stopped by aib to see their rates and they say:
We buy : 1.46 We Sell 1.39
Im not sure what this means, i can assume : €1 will get you 1.46$, $1.39 will get you €1.. Wait actually that doesnt make sense.. Okay im guessing here.. can someone fill me in here? (preferebly without making me feel stupid) Okay thanks, ill leave it at that for now and ask any other enquiries after i get this basic seteled.

EDIT: Is there a better place to trade currency, where youll get a better rate? thank yous!

Its a pitty thats not the way it works:p,you give them E1 they give you E1.39 any yoy give them $1,46 they give you E1.
FX isn't something you should be realy dipping into for the craic.

maxitwist

But I like currency :D:D Ive noticed that the us dollar seems to follow a trend where it gets to about $145per euro and then starts to strenghten up to around 125. If I Can Time this correctly, it could be a decent investment, and it is my first one so i want something simple. Im scared of silver, not sure what it would entail.
Thanks for the help clearing up that little issue even with those aib prices if it were to follow this pattern i could still stand to make €150 on my 1000 investment. That price they qoute you already includes their interest right? theres no extra hidden costs?
Also, no better place to buy to get closer to actual value rates? I am a complete newb so id be going to the bank if i dont get any suggestions.. or maybe the credit union? Help appreciated, thanks guys.

turbobaby

Lamb to the Slaughter.

If you are getting involved in FX do not go to your bank to exchange for cash. You will get hammered with charges.

Do some research online...

Low Energy Eng

You can look at the $/€ all day but the fundamentals for the $ now look very bad, with the recent US S&P downgrade
I wouldnt even consider buying $, as Ricky92 said, I'd be buying silver first

irishh_bob

thier only seems to be on thing clear when it comes to currency at the moment , the euro is trouncing everything , i put 30 k in canadian dollars at the end of march , even with soaring oil prices and a booming canadian economy , im down close to a grand in less than four weeks such is the strenth of the single european currency