Lux Investing

How can I invest money into different countries Certificate of Deposit when I am only an Amercian?

I am trying to invest in Chinese Banks 5.5%, Brazilian banks 6.5% and Australian Banks 4.5%. I am only an American, but can I place my money into these countries and take advantage of their high (discount) interest rate since US is going to be 0.0% until I become old and dead?

Public Comments

1. Not sure about other countries. But in Inida, you can not. I am a non resident indian and wanted to put my money in CD as Indian banks offering 9% returns. But,I learned that I can not as I am a non resident indian living in USA for last 5 years. Try to find ETFs which may get you better returns by investing in money markets you mentioned.(ETFs are not safe like CD. They are risky)
2. wow, arent you one smart cookie. Go to several foreign currency investments section of your bank. Several months ago, the recommendation was to invest in francs. It resulted in some increase in swiss accounts.
3. This is somewhat complex. To invest in an Australian Bank, you would have to exchange your U.S. dollars for Australian dollars, then put them in an Australian bank. In order to spend the money, you would then have to exchange your Australian dollars for U.S. dollars. You would have to pay exchange fees both times. Also, the Australian dollar fluctuates in value in relationship to the U.S. dollar. If the Australian dollar drops in value, you could end up losing money, when you exchanged back into U.S. dollars.
4. You can do this through EverBank. EverBank is a FDIC-insured bank that offers Americans a chance to purchase foreign-denominated CDs. You can choose to buy either a single-currency CD or multiple-currency CD. The CDs pay a fixed rate of interest to investors ranging as high as 6.24 percent. Important Notes: You will face currency risk when you convert funds back into U.S. dollars. FDIC-insurance covers the solvency of EverBank, but does not cover any losses from currency fluctuation.