In what currency should you store money in 2023?
One of the most popular assets has been and remains hard currency; it is in it that the majority of the population prefers to keep their savings.
But with the new year upon us, what are investors facing? as usual? The question arises: in what currency should we store money in 2023?
After all, due to unfavorable changes in exchange rates, you can lose tens of percent just because the wrong choice of savings currency was made.
Conversely, with a successful investment in foreign currency, you can not only protect your money from inflation, but really make good money without making much effort.
What currency should you not keep money in in 2023?
First of all, for long-term savings it is not recommended to use national currencies of the CIS countries:
Despite the fact that banks offer increased deposit interest on such currencies as the ruble, hryvnia, Belarusian ruble and Kazakh tenge, the depreciation of this money can far exceed the deposit interest.
The most popular currencies, such as the US dollar and the Euro, are also quite unstable.
The American dollar has already begun its decline, and the economic situation within the country is only fueling this decline.
Despite the fact that the euro currency has recently been growing relative to the US dollar, it also does not inspire confidence, the European economy is in crisis and the euro may fall again at any moment.
Which currency to buy in 2023
In order to choose the most profitable option, you should take into account a lot of factors, primarily economic ones. In addition, the currency must be sufficiently liquid so that the commission for buying and selling it is not too high.
The Swiss franc has already proven its attractiveness in 2022; over the past year it has risen significantly in price against both the US dollar and the Euro.
In 2023, the franc still remains a fairly attractive asset; the Swiss economy showed positive results over the past year, and the currency itself is in strong demand.
Canadian dollar – despite the fact that the Canadian dollar is not traditionally an investment currency, it has quite good prospects in 2023.
Now the price of the USDCAD currency pair is quite close to a ten-year high, but the Canadian economy at the end of the past year showed better results than the US economy and this allows us to predict the growth of the Canadian dollar.
Recently, many investors have also begun to use the Canadian dollar as a safe haven, and this will only strengthen its position.
There are other options, for example, the same Saudi riyal, but buying and selling this currency is quite difficult and the commission for such operations leaves much to be desired.
The easiest way to buy the Canadian dollar and the Swiss franc is through the trading platform of one of the forex brokers - https://time-forex.com/spisok-brokerov this will allow you to make a purchase transaction in just a couple of minutes, and if necessary, you can just as quickly exchange what you bought currency to any other.