dollar to euro currency exchange

VB

Im planning on buying a property in NY and would like to take advantage of the good exchange rate at present.
However the deal wont be closing until early next year . There seems to be a number of companies that allow you to buy currency at a set price in a future date. But to be honest I dont have a clue what the best way to go about this is. I would be grateful if anyone has any advice or could recommend someone i could ask! thanks very much

Time Magazine

One way to get around the issue (as the exchange rate is quite strong at the moment - it may well have peaked at $1.38 though) is to set up an American bank account and transfer/lodge the money. Needless to say you'll have to declare this to the taxman; off-shore accounts and all that. (I'm in America at the moment so you can use one of my accounts for a small fee if you like .)

What you're asking about though is a currency future. A future is essentially a contract to buy something in the future at a certain price, regardless of the pertaining market rate at that date.

Bluetonic

Probably better to buy an option as the rate may move ahead of the contract rate.

stepbar

You could open a US dollar deposit a/c in Ireland. BOI Global Markets (through a branch) would happily open one for you.