Foreign currency in ISA
Discussion
Hello folks
I am in the process of selling off my business stock. I was meant to receive payment in GBP but my NYC buyer has had the rate move against them since we shook on the deal. That means I can pull out of perhaps take USD in payment instead. I'll take the relevant number of USD at whatever the rate was when we shook on the deal
With the proceeds I want to buy shares in US companies. Prices of these shares are quoted in USD and they trade on Nasdaq.
Can I told USD in my ISA?
I am in the process of selling off my business stock. I was meant to receive payment in GBP but my NYC buyer has had the rate move against them since we shook on the deal. That means I can pull out of perhaps take USD in payment instead. I'll take the relevant number of USD at whatever the rate was when we shook on the deal
With the proceeds I want to buy shares in US companies. Prices of these shares are quoted in USD and they trade on Nasdaq.
Can I told USD in my ISA?
You can hold shares listed on a "recognised exchange" which will include Nasdaq, but cash can only be held in GBP.
You might be able to find a USD cash fund that is eligible to be held within the ISA. You could hold "uninvested" USD in this, but I suspect there would be no way to avoid the cost and hassle of conversions to/from GBP for every transaction.
You might be able to find a USD cash fund that is eligible to be held within the ISA. You could hold "uninvested" USD in this, but I suspect there would be no way to avoid the cost and hassle of conversions to/from GBP for every transaction.
Edited by WindyCommon on Thursday 14th September 19:07
Gassing Station | Finance | Top of Page | What's New | My Stuff