Save money in foreign currencies?

[riberet19]

Nowadays there are many ways for us to access the foreign currency markets and be able to exchange them for our local currency, do you think it is a good way to save buying and storing foreign currencies? For example in my case, dollars, British pounds or yen?

[Maria]

Saving money in foreign currency can provide diversification and potentially higher returns due to currency fluctuations. It may also offer protection against domestic economic instability or inflation. However, it carries the risk of currency devaluation, which can erode savings. Exchange rate fluctuations can impact the value of savings, and conversion fees may reduce overall returns.