Savings On USD Account In Ireland

Y

yourname

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Hi all

I have a USD Hold Account in Ireland with low $XXX,XXX in it. I am looking to see if anyone has any suggestions how/where I can start earning interest on this? At the minute there is no way I can have a US dollar savings account in Ulster Bank and I'm not so sure about other banks.

I have moved abroad to Malta for the next 3-5 years (for now) and am exploring options here but ideally I'd like to keep the money in Irish Banks if it is worth it!

I have considered using Currency Fair to convert to Euros and put it in a Term Deposit savings account but with uncertainty on the Euro value (form me anyway) I'm not sure if this is a good or awful idea.

Any input appreciated.
 
On their foreign currency deposit rates sheet Permanent TSB are showing a +$50,000 360 day fixed term USD account earning 0.55% AER.
 
From reading some similar threads and mainly replies from you Ciaran, it seems I should decide if I need USD really and if I think I want to convert them to Euro, is now one of the better times?

Out of interest - Would many property companies in Ireland accept USD as a payment currency? I.e Would they be actively operating multi currency accounts?
 
yourname said:
From reading some similar threads and mainly replies from you Ciaran, it seems I should decide if I need USD really and if I think I want to convert them to Euro, is now one of the better times?
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For most people, as a general rule, you should keep your savings in the currency you ultimately indent to spend the savings in to avoid FX risk.

For a minority of people, keeping money in USD might be useful as a currency hedge.

I am not going to speculate as to the direction of EURUSD.
 
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