r2i forum

I would like to convert some of my savings to Euros....

1. I am not a USC... Can i open a account to maintian the amount in Euro? (i am living in USA)(Never been to europe)

2. How about Amex TC /Euro in cash? I can have them safe here / in my parents place in chennai... As of now , i do have amex Credit card. But i may R2i in 3 / 5 years. Can i continue my CC? How do i encash the TC 5 years from now without a CC ? and without a NRI status.?

3. Any other TC's that are better? (Thomas cook...)

4. Any good ETF/stock (in euros)?

4. $$ is falling and i had done my share of RE and gold. Not sure if i should invest more in that area. So i would like to move to Euros.

Thanks
SV

FXE -Euro currency etf

OPen an FCNR account in Euros with Citibank

BTW, I think it is a BAD idea to invest in the Euro now. It is already inflated with respect to the dollar and remember that both the Euro and the USD are fiat currencies printed by private federal reserves with little or no accountability. If you are trying to preserve your wealth in global terms, keeping a significant part of it in INR may not be a bad idea. India has a strong economy, good future prospects, and a currency system that is independent of the private Central Banks (RBI is nationalized).

This is not a good time to invest in precious metals either, gold is at an all time high. RE may work out for you, if you get a good price. As many experts on this forum have pointed out in the past , you should keep a majority of your assets denominated in the currency of a country, where you plan to spend a majority of your life. Then, make an AAP that suits your future financial goals in that country.

Thanks guys.

I like everbank to hold foreign currencies with FDIC insurance and earn interest income at the same time. I believe a global portfolio ought to have some major world currencies such as Euro, GBP, etc.

There is some 1.5% fee they charge up front but its not too bad if you are in for long term.

One should also explore shares of Foreign currency trusts and compare to Everbank, if that is what one wants to do.

FXA for Australian currency
FXE for Euro
FXY for Yen
FXF for swiss Franc

and there are others.