What’s the Difference Between a Dollar CD and a Foreign Currency CD?
As you may have heard, a foreign-currency CD is one of the simplest ways to buy foreign currencies. You’re not really trading one currency for another like in the foreign-exchange market. Nor are you investing with leverage like a currency option. Instead, you’re buying and holding a foreign currency - just as if you were holding an average dollar-based CD. Really, it’s a simple four-step process: 1. Decide to invest in a certain currency 2. Call your bank 3. Apply for the CD in a particu
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