I live in the US and would like to open a savings account to have some emergency money set aside, but I was wondering whether it is possible to open an online account denominated in euros rather than dollars. The purpose is to earn interest while simultaneously benefitting from weakness in the dollar.
2006-10-18 04:43:09 · 2 answers · asked by Cardinal Rule 3 in Business & Finance ➔ Investing
There's no reason why you can't do that. Both HSBC and Citibank offer Euro accounts. Be aware that the interest rates on Euro accounts are not very high & (depending on where you go) there may be account charges. Most of your returns would come from the Dollar weakening against the Euro over time.
2006-10-18 05:19:36 · answer #1 · answered by popeleo5th 5 · 0⤊ 0⤋
It is possible with most banks.. just ask them for their foregin currency accounts. You can only really benefit from the weak dollar at this point if you have Euros coming in, and if you are relying on interest there really has to be a huge anmount of initial cash to make that worth while...
2006-10-18 04:47:49 · answer #2 · answered by Wannabe007 2 · 0⤊ 0⤋