Best way to divest from USD now (panicked)

Discussion in 'Economics' started by amylase, Feb 28, 2008.

  1. Bob111

    Bob111

    #11     Feb 28, 2008
  2. poyayan

    poyayan

    Good info. I do have a question. Look at New Zealand Dollar 1 year CD rate

    This is everbank's interest rate :
    http://www.everbank.com/001WorldCurrencyCDSingle.aspx?LinkID=Body1 NSD at 6%, but they got Iceland and South Africa rand.

    Hsbc hk
    http://www.hsbc.com.hk I give up. Can't do direct link to NZD interest rate. It is about 7.1%

    Hsbc offshare has great Australian Dollar CD rate. (7%)

    Everbank's interest rate looks low. Anyone knows anywhere that offer better than 7%+ 1 year CD rate on AUD or NZD?
     
    #12     Feb 28, 2008
  3. Sure they are making a profit on not giving you the exact rate they are getting. But it sure is convenient. You want the best rate, you gotta go to New Zealand and open an account yourself. Then you are gonna get hit with fees when you transfer the money.
     
    #13     Feb 28, 2008
  4. poyayan

    poyayan

    Fee is just wiring fee and account size should be big enough to not incur fees. I will care more about low exchange rate spread.

    Yes, convenience need to be there. Good interest rate and good exchange rate for 10+ so foreign currency choices.

    Chase has horrible exchange rate spread.
    hsbc hk is about 0.5% to 1% depends on what currency you are talking about.

    Hsbc offshore offer 7% for AUD. So, that is a good deal without leaving US. Don't know its exchange rate spread though.
     
    #14     Feb 28, 2008