Currency Investment

I have 10K that I would like to invest, I don't necessarily want to leave it on deposit for years and was thinking about investing it currencies.
I thought that if I could move quickly I could make a bit of cash with the fluctuations in sterling, us dollars etc.
Is this a good idea? Is there any disadvantages to this? What is the easiest way to go about this, do I just buy from the bereau de change in the bank or can it be done online somewhere??
Any advice is much appreciated!

First, you're talking about speculation, not investment.

Second, nobody knows which way currencies are going to move - are you better than the hedge funds, banks etc. that lose billions every day on the forex markets?

Third, for such (comparatively) tiny retail amounts, you'll be killed on commission, poor spreads etc. - you'll lose money just by changing your money, let alone gambling on the markets with it.

[FONT=&quot]I totally agree with Sherman, most academic studies support the view that betting on currencies is not an optimal way to produce asset growth. Currencies provide no future cash flows and do not generate any underlying earnings.[/FONT]
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[FONT=&quot]There are also substantial risks in speculating in foreign exchange, a market that is extremely volatile and highly unpredictable. Alan Greenspan described the task of predicting currency movements as "no better than a coin toss".[/FONT]

I seem to have an innate talent for influencing exchange rates.... as soon as I buy Sterling it devalues.
Never fails

The US$ has had a good run last 6 months or so vs. most currencies. If you want to speculate, why not take a small spreadbet on Euro or Sterling strengthening?

OMAD, I am a professional FX trader and my advice to you is to stear clear. You would need to leverage up and spread bet. Its not something you just throw your hand at.

Old Turkey Liras (TRL) are acceptable worldwide indefinetely being of Gold standard currency value as compared to New Liras (YTL) which is limited only to Turkey and few other countries.Both are equal in its value and exchange rate in terms of other currencies.Always remember the saying "Old is Gold".

It is'nt a bad idea also to invest in Euros to save taxes on euros and to buy Turkish liras especially If you want to recieve an tax break.Except for the fact as per the Turkey tax laws,Your any type of income derived from old turkish liras (TRL) are non-taxable or completely tax-free money assets and on New liras (YTL), it is taxable.