Posted by forex at 5:55 AM
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1. Compare interest rates. You need to compare the interest rates of currencies that are open to the international market.
2. Map out your future finances. Like any form of borrowing, you will have to re-pay this loan in its currency. It is best to invest in a currency that is seen as a strong global position. That way, you will not have to pay a higher amount of that currency.
3. Find a licensed domestic bank that can loan foreign currencies. These kinds of banks are not usually found near your local suburban bank. Large bank firms will have representatives that can sit down with you to discuss the borrowing process. The federal financial departments of your home country must recognize these banks as legitimate banks that can give you borrowed foreign money.
4. Set up the loan with the bank. The typical processes for a bank loan are done at the licensed domestic bank, except with the stipulation that the money is borrowed in the foreign currency.