I currently have all my money in Eur and i would like to purchase different currencies in the event that the euro crashes, any recommendations ? looking at Aussie Dollar but concerned about drop in value yesterday because of China's figures, also looking at US dollar because it is usual safe currency however concerned about there economy. Advice needed
Anyone who can give you a guaranteed answer isn't posting on this forum, they're travelling the world in their private yacht.
Anytime you change money, it costs you.
With the state of the world markets, there is not really any such thing as a safe currency.
The euro is as good as any currency at the moment.
The smartest thing to do at ANY time is to keep your savings in the currency you will be spending it in. No risk whatsoever that way. Everything else is speculation and is just as likely to cost you as it is to make you money.
Are you looking for a currency to travel with or just as an investment? If it's for an investment then forget currency's and buy gold.
Any currency where the government is doing heavy deficit spending is likely to have a currency that is inflationary--and thus not a good risk. The reason that Euros may possibly crash is related to the debt of Greece and Italy. This is why the US dollar is also not a great investment. I can't recommend the best currency to invest in (wish I knew the answer), but I would think a government that's stable and one that does little or no deficit spending would fit the bill. Maybe Swiss francs or the Australian dollars.
[quote=windrush]I currently have all my money in Eur and i would like to purchase different currencies in the event that the euro crashes,/quote]
Some comments on this TRAVEL forum are worthwhile considering.
On the other hand, if you are sitting on, say, a few millions of Euros, you should contact an investment adviser, possibly in Switzerland (neutral approach !). Mind you, they rarely talk to you if your figure is less than 7 digits.