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Safest currency for next 12 months

  • 14-09-2012 1:21pm
    #1
    ahnowbrowncow
    Registered Users, Registered Users 2 Posts: 2,588 ✭✭✭


    My friend is working in Australia at the minute, they've about A$20,000 saved at the minute, will probably be about A$50,000 when they leave for Ireland in 12 months.

    Do they leave the savings as Australian Dollar or convert to Euro, American Dollar or Pound Sterling?

    They're looking to minimise losses in case the Australian Dollar plummets rather than investing with a view to make profits.

    I think sterling seems to be the safest currency, € and A$ look like they are going to lose value between now and the end of the year but I'm a total novice.

    Any advice?


Comments

  • #2
    stackerman
    Registered Users, Registered Users 2 Posts: 1,241 ✭✭✭stackerman


    This will not come as a surprise to some. . . . .

    Physical GOLD, can be bought in Aus easily, and cashed in at a later date in any currency they choose. It will at least preserve their purchasing power, and will quite likely increase in value.

    I would not, indeed do not, trust my saving in any currency right now.

    Just IMHO


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