In what currency should you keep your money in 2022?
After the collapse in February 2022, the foreign exchange 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 can collapse at any moment.
Therefore, now is the time to think about protecting your savings from exchange rate risks; all that remains is to answer the question - in what currency should you store your money in 2022?
It is clear that it should not only be a fairly stable, but also a liquid currency, so that if necessary, money can be quickly exchanged or settlements made.
Choosing which currency to store money in 2022 with the greatest benefit
The American dollar has been the most liquid currency for many years; it can be quickly exchanged for any other monetary unit or paid directly in dollars:
But recently there has been a fairly strong strengthening of the dollar against other currencies, so many experts predict a decline in its exchange rate.
A dollar deposit will help reduce exchange rate losses; banks now offer up to 2.5% per annum, stock brokers up to 20% per annum. From what I know interest is charged:
• Brokerage company RoboForex – 10% per annum
• Broker NPBFX up to 23% per annum
The Japanese yen is not exactly a traditional safe haven currency, but it is also an interesting option for several objective reasons:
The main one is the depreciation of the Japanese yen against the US dollar to 130 yen per 1 US dollar. This means that if you start storing money in this currency now, then with a high probability it will rise in price by the end of 2022. Earnings against the dollar can be more than 20%.
The Swiss franc has long been considered the most stable world currency and the main investment haven:
Since the end of February 2022, the franc has fallen in price against the dollar by more than 14%, but I am still more inclined to trust the Swiss franc than the American dollar and believe that in the near future this currency will rise significantly in price and win back losses.
USD Coin is a cryptocurrency with a stable rate that is equal to 1 to 1 US dollar:
The main advantage of this stablecoin is the ability to use USD Coin in international payments. That is, you can transfer money to USD Coin in your country, and then withdraw cash without restrictions abroad or make payments for goods and services.
When answering the question “In what currency should I keep my money in 2022,” I did not indicate the euro due to the high probability of its further fall, due to the difficult economic situation in the European Union.