With over 5 trillion dollars exchanging hands every day, the Foreign Exchange Market (FOREX) is the largest and most liquid market in the world. Yet, there are surprisingly few easy ways for individual investors to invest.
However, we recently discovered a simple and safe way of investing directly in foreign currencies. This is through the Everbank WorldCurrency Access Deposit Accounts. Everbank deposit accounts have the following features:
To those wise investors wishing to diversify out of dollar-denominated investments, or simply to assist with hedging against a falling dollar, the new EverBank deposit accounts denominated in Chinese currency, know either as the renminbi or the yuan, will be of particular interest.
By Chinese government policy, the value of the Chinese national currency, the renminbi, has been pegged to the U.S. dollar at the same rate since 1998. Due to a combination of factors, including increasing pressure from trading partners around the globe, it has become increasingly possible that China will announce a change in policy regarding the renminbi/dollar peg.
With its Chinese Renminbi Access Deposit Accounts, EverBank is providing sophisticated depositors who understand the risks and rewards offered by world currencies with a convenient way to position themselves ahead of a possible change in Chinese government policy.
World currency accounts can be opened with a minimum deposit of as little as $2,500 (or US-dollar equivalent), and earn interest on most currencies when the account balance exceeds $10,000. Although note that the special Chinese renminbi account requires a $10,000 minimum balance. In our experience these minimum opening deposits are very low compared to most other currency accounts found elsewhere around the world.
To take a closer look at the full range of world currency deposit account and Certificate of Deposit options, follow this link: Everbank
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