Short term investment in USD - Beneficial or not?

[544_delta]

Hi,

I am planning to move abroad later this August and I was considering to buy dollars to preserve my savings' value and to gain some profit on them if possible. I have access to 10 Lac PKR so I was thinking of buying USD. Would it be a sound move financially? how is dollar going to act in upcoming 4 or 5 months? these are the type of questions I have in mind regarding this issue as I'm new to this thing and have never dabbled in currency exchanges, forex trading or businesses like that. Therefore, I need informed opinions and advice. Thanks y'all.

 

[VCheng]

Such a move is not investment. It is merely currency speculation.

 

[Blessed Taliban]

Hi,

I am planning to move abroad later this August and I was considering to buy dollars to preserve my savings' value and to gain some profit on them if possible. I have access to 10 Lac PKR so I was thinking of buying USD. Would it be a sound move financially? how is dollar going to act in upcoming 4 or 5 months? these are the type of questions I have in mind regarding this issue as I'm new to this thing and have never dabbled in currency exchanges, forex trading or businesses like that. Therefore, I need informed opinions and advice. Thanks y'all.

Batman would never make that move.

 

[khansaheeb]

With political turmoil in the US , highly risky investing in the dollar.

 

[swnjo]

Hi,

I am planning to move abroad later this August and I was considering to buy dollars to preserve my savings' value and to gain some profit on them if possible. I have access to 10 Lac PKR so I was thinking of buying USD. Would it be a sound move financially? how is dollar going to act in upcoming 4 or 5 months? these are the type of questions I have in mind regarding this issue as I'm new to this thing and have never dabbled in currency exchanges, forex trading or businesses like that. Therefore, I need informed opinions and advice. Thanks y'all.

very good move. PKR will depreciate further.
but than i m just a nobody in internet, you probably should talk in person to people who know stuff.

 

[Blessed Taliban]

I am planning to move abroad later this August and I was considering to buy dollars to preserve my savings' value

IF you want to preserve it then why are you converting it to a piece of paper again which have no intrinsic value.
The value of this paper can drop any time and the next day you’ll be holding your head in regret.
I am gonna suggest you to buy gold with your savings, its a more better and safer option as compared to the paper.

I am planning to move abroad later this August and I was considering to buy dollars to preserve my savings' value and to gain some profit on them if possible. I have access to 10 Lac PKR so I was thinking of buying USD.

Either you could save your original amount or could earn profit.

We are not far from de-dolarization, in fact a vary small amount of time is left after which the days of dollar will be over.

 

[LeGenD]

Hi,

I am planning to move abroad later this August and I was considering to buy dollars to preserve my savings' value and to gain some profit on them if possible. I have access to 10 Lac PKR so I was thinking of buying USD. Would it be a sound move financially? how is dollar going to act in upcoming 4 or 5 months? these are the type of questions I have in mind regarding this issue as I'm new to this thing and have never dabbled in currency exchanges, forex trading or businesses like that. Therefore, I need informed opinions and advice. Thanks y'all.

If you are planning to move abroad than you may consider converting your savings in PKR to USD, but you need to do this soon since value of PKR is in decline vis-a-vis USD [1].

[1] https://walletinvestor.com/forex-forecast/usd-pkr-prediction

Where you are going is also an important consideration. For example, if you are moving to UK then it might be better to convert your savings to Pound Sterling.

DO convert your savings to a strong foreign currency because PKR is not stable right now, and as soon as you can. But consult the Branch Manager of the relevant branch of a bank where your savings account is maintained for this move [before] you act upon it - you might get some valuable insight from him in this regard.

If you choose USD then you can invest a certain amount in US T-bonds for profitability. FYI: https://www.thestreet.com/personal-finance/education/what-are-treasury-bonds-14874567

 

[544_delta]

IF you want to preserve it then why are you converting it to a piece of paper again which have no intrinsic value.
The value of this paper can drop any time and the next day you’ll be holding your head in regret.
I am gonna suggest you to buy gold with your savings, its a more better and safer option as compared to the paper.

i will need it in currency form soon after i have moved. thats why i was looking for conversion to stronger currency that i can readily utilize. i do appreciate the gold suggestion though but presently i dont have money for long term investments.

Such a move is not investment. It is merely currency speculation.

im a layman in this field so pardon my ignorance.

Batman would never make that move.

but then again, batman doesnt have to think about finances. the dude's loaded.

With political turmoil in the US , highly risky investing in the dollar.

pakistan is in even greater turmoil apparently, our currency is depreciating way faster than theirs.

We are not far from de-dolarization, in fact a vary small amount of time is left after which the days of dollar will be over.

what is this de dollarization concept? if you could please explain?

If you are planning to move abroad than you may consider converting your savings in PKR to USD, but you need to do this soon since value of PKR is in decline vis-a-vis USD [1].

[1] https://walletinvestor.com/forex-forecast/usd-pkr-prediction

Where you are going is also an important consideration. For example, if you are moving to UK then it might be better to convert your savings to Pound Sterling.

DO convert your savings to a strong foreign currency because PKR is not stable right now, and as soon as you can. But consult the Branch Manager of the relevant branch of a bank where your savings account is maintained for this move [before] you act upon it - you might get some valuable insight from him in this regard.

If you choose USD then you can invest a certain amount in US T-bonds for profitability. FYI: https://www.thestreet.com/personal-finance/education/what-are-treasury-bonds-14874567

many thanks. i will look at these options too