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Foreign Currency Deposit Unit Management

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rm tancontian

on 11 March 2015

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Transcript of Foreign Currency Deposit Unit Management

Foreign currency deposit unit (FCDU)
- refer to that unit of a local bank or of a local branch of a foreign bank authorized by the Central Bank to engage in foreign currency-denominated transactions.
How to invest in Foreign Currencies
Know the risks
-Trading in foreign currencies can be very profitable if you stay on top of the global economic market. But if you don't have the time or desire to do that, it also can be very risky.
know the financial strength of various nations so you'll have an informed opinion as to whether their currency will strengthen or weaken.
Open an account

-invest in foreign currency using a brokerage account, if you have one.

-If you have a PayPal account, hold funds in multiple currencies at no charge.

-find a bank that allows customers to keep foreign currency accounts

Foreign Currency Deposit Unit Management
Know the risk
Open Account
Try a single play
Consider a double play
Wheel and Deal
Try a single play

-this protects you if the currency deflates during the duration of your CD.

Consider a double play
-Open a CD and gamble on a "double play," also known as an "open" or "naked" trade.
Wheel and deal
-Set up an online account on one of the Forex trading web sites.
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