QuestionsMoney-ShoppingIs it better to have a foreign currency bank account?
SourCornflakes asked 5 months ago

I was wondering if it's financially sound to have a savings MCB account in EUR or USD, considering that that MUR will probably continue to devaluate. Will I preserve the value of my savings in this way?

tistef answered 5 months ago

25% in USD and 10% in EURO as a safety net, the rest in MUR. That’s my strategy.

indominus_rex007 answered 5 months ago

With the current never-ending depreciation of the MRU Rupee, it’s best to have a diverse portfolio of your savings in bank accounts, hold 20% usd , 35 % gbp , 10 % euros and the rest 35% in Rupees for your basic needs.

Try holding diverse foreign currencies so that any negative exposure in one currency can be offset by a positive one in another currency

You can always convert back the foreign currency to rupees again should any financial emergency arise.

Few_Award6146 answered 5 months ago

Keep all your savings in usd or eur as 2nd choice.

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