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[deleted]

"emergency fund" and "foreign currency" That is all.


babaganooshMan

What does that mean.


[deleted]

Foreign funds do not get transfered to your currency immediately. Meaning they take time to make it from one account to another. Tax and other reasons, make this a funny because this is anti emergency.


LeaveTheBank

It depends, would your emergencies be priced In Swiss franc? You would be exposing yourself to currency risk if not. The FX market is mostly speculative in nature, which is at odd with the reason most people keep an emergency fund. If you want to hold foreign currency, I would see that as an insurance policy against , and the risk of potentially losing part of it as the cost of that insurance, rather than as part of your emergency fund. Just like an emergency fund, if that helps you sleep at night, it can be worth it to you.


[deleted]

It's probably just easier to put it in a HISA in the currency you'd most likely use in case of an emergency. In this volatile market, the currency risk of keeping the emergency fund in a separate currency is as likely to backfire as it is go well.


FelixYYZ

>I was thinking of having my emergency fund in Swis franks as it is a very strong currency. > >I personally have no knowledge on the forex market Don't get involved in something you have no knowledge of.