Openning a Yuan account in Bank of China NY Branch?

Discussion in 'Economics' started by misterno, Jun 16, 2011.

  1. I am oppenning a CD in BOC NY Branch

    My question is; say I deposited $10,000 today with 0.65% interest rate and 6 months from now Yuan appreciated %2 against the USD

    I understand I will be paying tax on the interest gain.

    Will I be paying tax on the realized gain on currency appreciation?
  2. mickmak


    Dunno the answer to that. But I am curious how can you open an account at BOC NY? I was going to make a stop in Shanghai to open an account, but if I can do that here in NY, that's much better. Is there a minimum?

  3. yes the minimum is $500