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BANK ACCOUNTS DENOMINATED IN FOREIGN CURRENCY (not FDIC-insured)

Holding deposit accounts denominated in foreign currency can offer investors several advantages. The most obvious advantage is if a person is domiciled, plans to visit extensively or conducts business in a different country the liquidity of holding funds in that country can greatly reduce transaction costs. A second advantage is that these deposit account can offer superior returns either by higher nominal rates, through currency appreciation, or even both. A third advantage is that holding foreign denominated bank accounts is a way to diversify a portfolio internationally without having to endure the additional risk of the equity markets. Bank accounts denominated in a foreign currency always carry the risk of currency depreciation meaning an investor can lose principal.