Thursday, December 8, 2011

Can you store currencies other than your national currency in your bank account?

Or will you have to convert the other form of currency into your country's currency and then store it?|||In the uS the accounts are in US dollars only. In other countries you can have your local currency or US dollars because ethe US dollar is the worlds reserve currency.





I live in Alaska and I personally save in physical Canadian currency. Yesterday I bought $300 Canadian dollars. I have been doing this for several years. I keep the currency at home in my vault.|||You ll probably need to open a new "foreign currency" account in your bank.In my bank i have a separate account for EUR which is my local currency and i have opened a new account for foreign currency to accept dollars|||Typically, bank accounts are provided only in a single currency. Something more akin to a money market account would be needed to 'store' multiple currencies.|||In my country, Peru, the USD is commonly used. You can open a bank account in soles (PEN) or dollars (USD).

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