What services or what institutions will allow me to hedge against currency exchange rates?
David G asked:
I am interested in converting U.S. dollars to Euros, at a later date (say, 6 to 24 months) but like to lock in the current exchange rate. How do I do this, and which financial institutions can help me (banks, online brokerages, etc)?
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I am interested in converting U.S. dollars to Euros, at a later date (say, 6 to 24 months) but like to lock in the current exchange rate. How do I do this, and which financial institutions can help me (banks, online brokerages, etc)?
November 16th, 2009 at 1:58 pm
There are several EFT (Exchange Traded Funds) that are focused on currencies.You can buy the EFT or buy or sell Options on the EFT of your choice. Options are a sophisticated investment vehicle that requires some homework and research before trading. Any online brokerage house will have EFT’s available for trading. There are also reverse EFT that will go up when the underlying commodity goes down and visa versa. Edward C