Saving Account in US Dollar

Light of Hope · 1 Saving Account in US Dollar Thu Mar 21, 2013 6:41 pm

Light of Hope

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Has any of you thought of investing some money in USD? I want to buy some US dollars, about 5% of my total investment portfolio.

Does any of you know a USD savings account that I could deposit and withdraw in USD again? Most of the banks that offer USD account does not allow you to withdraw in USD again, instead you will be given SLR for the current exchange rate. Even any other way that would meet my requirement. Just that I don't wanna buy USD and keep it in a safe, without any interest gain (even when the interest is low).

any information in this regard would be appreciated.

nalaka_sg · 2 Re: Saving Account in US Dollar Thu Mar 21, 2013 7:06 pm

nalaka_sg

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actually if you open NRFC Acc ,you could able to withdraw US$ with valid reason (going abroad or travel etc).
anyway investing in US$ ? i dont think it is good option.may be buy commodities. gold silver etc.(but now gold is all time high Question

)

Antonym · 3 Re: Saving Account in US Dollar Thu Mar 21, 2013 7:15 pm

Antonym

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It is possible if you are employed overseas or have returned to Sri Lanka after working abroad. The best product offered by banks is SFIDA (Special Foreign Investment Deposit Account).

Even if you are residing in SL, you can open a Resident Foreign Currency Account with money received from abroad.

But you probably can't withdraw US currency notes unless you provide a valid reason, with proof. Otherwise, they will only give you LKR at the prevailing rate.

godswen · 4 Re: Saving Account in US Dollar Thu Mar 21, 2013 8:03 pm

godswen

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You can open a RFC account in Sampath Bank.

For savings they pay 2% pa
For FD they pay 2.5% pa (3months I think)

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Saving Account in US Dollar

1 Saving Account in US Dollar Thu Mar 21, 2013 6:41 pm

Light of Hope

2 Re: Saving Account in US Dollar Thu Mar 21, 2013 7:06 pm

nalaka_sg

3 Re: Saving Account in US Dollar Thu Mar 21, 2013 7:15 pm

Antonym

4 Re: Saving Account in US Dollar Thu Mar 21, 2013 8:03 pm

godswen

5 Re: Saving Account in US Dollar

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