What currency should you store your money in in 2022?
After the collapse in February 2022, the currency market gradually began to stabilize and many people breathed a sigh of relief.
But we all understand that in the current situation, it is impossible to declare stability and the national currency could collapse at any moment.
Therefore, now is the time to think about protecting your savings from exchange rate risks. The only question left to answer is: what currency should you keep your money in in 2022?
It is clear that this must be not only a sufficiently stable currency, but also a liquid one, so that, if necessary, it would be possible to quickly exchange money or make a payment.
Choosing the currency to store your money in 2022 with the greatest benefit
The US dollar has been the most liquid currency for many years; it can be quickly exchanged for any other currency or paid directly in dollars:
However, recently the dollar has strengthened quite significantly against other currencies, so many experts predict a decline in its exchange rate.
A dollar deposit can help mitigate exchange rate losses. Banks are currently offering up to 2.5% per annum, and stockbrokers offer up to 20% per annum. Of those I know, the following offer interest:
• Brokerage company RoboForex – 10% per annum
• Broker NPBFX up to 23% per annum
The Japanese yen isn't exactly a traditional safe-haven currency, but it's still an interesting option for several objective reasons:
The main one is the decline of the Japanese yen against the US dollar to 130 yen per US dollar. This means that if you start saving in this currency now, it will likely appreciate by the end of 2022. The return on the dollar could be over 20%.
The Swiss franc has long been considered the world's most stable currency and a major investment haven:
Since the end of February 2022, the franc has fallen more than 14% against the dollar, but I still trust the Swiss franc more than the US dollar and believe that this currency will appreciate significantly in the near future and recoup its losses.
USD Coin is a cryptocurrency with a stable exchange rate equal to 1 to 1 US dollar:
The main advantage of this stablecoin is the ability to use USD Coin for international payments. This means you can transfer funds in USD Coin in your home country, then withdraw cash without restrictions abroad or pay for goods and services.
When answering the question "What currency should I keep my money in in 2022?" I did not specify the euro due to the high likelihood of its further decline due to the difficult economic situation in the European Union.
