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What is the easiest way to get out of the USD?
I want to convert some of my money (American dollar) to the Austrailian dollar. The goal is to keep it in a savings account after it is converted, and not touch it for a few years. I just want to diversify in case the USD goes down. Now what is the easiest/best way to go about this. I looked at Forex accounts, but they dont give any mention of this strategy. They just push trading. I wouldnt mind going to a bank, but I know nothing about if they would allow me to keep a foreign currency in a savings account. Not sure what I should do. Thanks for any help.
how do I go about opening up a foreign bank account? If thats what this is going to take…
There are much easier ways than opening a foreign bank account. Easiest way would be to buy the Australian dollar ETF with ticker symbol FXA. I am assuming you have an online brokerage account.
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