How to Get out of The US Dollar?
Hell all,
My current amount is 0k and I am concidering investing into other currencies and markets, but the problems is it seams that everything requires you to get / earn your profits back in US Dollars. I would like to get OUT of the USD ’cause I don’t think it’s a reliable and safe currency at the moment to be in. Can someone advice me how to invest in other (major) currencies around the globe or even stocks to simply get out of the US Dollar currency and of course earn profits in some other currency. I am thinking something like Norwegian Krone or maybe Euro? Thank you very much!
Tagged with: currency • norwegian krone • profits • stocks • world currencies
Filed under: Business
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The easiest way is to buy mutual funds or ETFs that invest in stocks outside the US. There’s lots of them, both single country funds and regional funds. I have money in Vanguard’s European ETF (VGK), Pacific Rim ETF (VPL), and Emerging Market ETF (VWO). These funds are all priced in dollars but their underlying assets are in other currencies so they go up when the dollar goes down and vice versa, more of the latter than the former lately.
There are also a few banks in the US that offer accounts in other currencies. Everbank has the lowest minimums. If you have over $100K to invest, HSBC’s Premier program will let you open accounts in HSBC branches in other countries in their local currency.