D
Deleted member 58475
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I'm considering opening an Australian Dollar bank account (outside Ireland), as a protection against the devaluation of a (second tier) Euro within PIIGS and am a little unsure of the computations. Leaving exchange rate fluctuations aside, can somebody explain to me how it would work in actual savings terms if I do the following:-
1) Move €100 to AUD at an exchange rate of 1:1
2) A "new" Euro is created in PIIGS at a devalued rate i.e. I assume revalued against the AUD
3) I move my AUD back to the new PIGGS Euro
Have I protected myself against devaluation, should I have left my €100 in my Irish bank account?
1) Move €100 to AUD at an exchange rate of 1:1
2) A "new" Euro is created in PIIGS at a devalued rate i.e. I assume revalued against the AUD
3) I move my AUD back to the new PIGGS Euro
Have I protected myself against devaluation, should I have left my €100 in my Irish bank account?