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Are there any US Banks that provide foreign currency denominated deposit accounts if so which?
Tio
Yes, EverBank.com provides foreign currency deposit accounts.
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∙ 16y ago
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What is the function of authorized dealer foreign exchange?
AD Category "A" branches are authorised to maintain Foreign Currency Accounts and also open and maiontain NOSTRO Accounts. "B" categy branches handle trade and Service related transactions denominated in foreign currencies and Rupees and also operate the Nostro accounts. C Category branches handle trade and Service related transactions denominated in foreign currencies and Rupees but have report through a Link Office, B category branch................
What is the difference between eurobonds and foreign exchange bonds?
A foreign bond has three characteristics: * The bond is either issued by a foreign entity (such as a government, municipality, or corporation). * The bond is traded on a foreign market. * and, The bond is denominated in a foreign currency. Foreign bonds are subject to currency risks, as when you hold the bond it is denominated in a foreign currency. As bonds take a specified time to mature, there is no guarentee of the return of the bond given the currency exchange fluctuations. A eurobond is a bond issued and traded in a country other than the one in which its currency is denominated. A eurobond does not necessarily have to originate or end up in Europe although most debt instruments of this type are issued by non-European entities to European investors. Meaning an entity can place a bond on the German exchange denominated in American dollars. Another difference is the composition of the underwriting syndicate. Eurobonds are underwritten by an international syndicate and is not subject to the rules and regulations of any country. Foreign bonds, however, are underwritten in the country of currency denomination, and are therefore subject to the regulations of that country.
What types of banks are allowed to operate foreign currency accounts?
Foreign Banks
Can UK money be deposited in US bank account?
Yes. Most major banks in the US accept deposit of foreign currency notes. The point to note here is that, the deposit accepting bank would convert the foreign currency into the local currency (US Dollar) at the prevailing exchange rates, before crediting the money into your account.
Is it possible to make transaction foreign money through Axis Bank of India?
Yes. Axis Bank in India deals with foreign currency transactions. You can both deposit and withdraw currencies that are not the Indian Rupee. All you need is proof that you either earned an income in foreign currency or are in need of foreign currency due to a legitimate reason. Let us say you are going for a trip to USA and need dollars, you can deposit rupees with the bank and ask them to issue you US dollars which they will do so.
What is the function of authorized dealer foreign exchange?
AD Category "A" branches are authorised to maintain Foreign Currency Accounts and also open and maiontain NOSTRO Accounts. "B" categy branches handle trade and Service related transactions denominated in foreign currencies and Rupees and also operate the Nostro accounts. C Category branches handle trade and Service related transactions denominated in foreign currencies and Rupees but have report through a Link Office, B category branch................
How do you distinguish between an exposed net asset position and an exposed net liability position?
The difference between an exposed net asset position and an exposed net liability position, is that an exposed net asset position occurs when a company's trade receivables and other assets denominated in a foreign currency are greater than its liabilities denominated in that currency. An exposed net liability position occurs if a company's liabilities denominated in a foreign currency exceed receivables denominated in that currency.
What types of banks are allowed to operate foreign currency accounts?
Foreign Banks
What is the difference between eurobonds and foreign exchange bonds?
A foreign bond has three characteristics: * The bond is either issued by a foreign entity (such as a government, municipality, or corporation). * The bond is traded on a foreign market. * and, The bond is denominated in a foreign currency. Foreign bonds are subject to currency risks, as when you hold the bond it is denominated in a foreign currency. As bonds take a specified time to mature, there is no guarentee of the return of the bond given the currency exchange fluctuations. A eurobond is a bond issued and traded in a country other than the one in which its currency is denominated. A eurobond does not necessarily have to originate or end up in Europe although most debt instruments of this type are issued by non-European entities to European investors. Meaning an entity can place a bond on the German exchange denominated in American dollars. Another difference is the composition of the underwriting syndicate. Eurobonds are underwritten by an international syndicate and is not subject to the rules and regulations of any country. Foreign bonds, however, are underwritten in the country of currency denomination, and are therefore subject to the regulations of that country.
Does zakat deduct from current accounts?
Foreign currency and current accounts are exempted from this deduction.
Can UK money be deposited in US bank account?
Yes. Most major banks in the US accept deposit of foreign currency notes. The point to note here is that, the deposit accepting bank would convert the foreign currency into the local currency (US Dollar) at the prevailing exchange rates, before crediting the money into your account.
When does an unrealized foreign exchange gain or loss become a realized gain with respect to the foreign currency bank accounts?
When the cash in the bank account is sold at a currency other than its denomination.
Where do you buy Iceland bonds?
Go to www.everbank.com and go to the foreign currency deposit section. Icelandic Krona deposit is roughly or equilavent to the the bonds' interest rate.
What is the difference between a normal savings account and nre account?
In normal savings account, you deposit Indian money (rupee) and you can withdraw it in the same indian money. In nre account you can only deposit foreign currency and you withdraw indian currency. you cant deposit indian money in this account
Is it possible to make transaction foreign money through Axis Bank of India?
Yes. Axis Bank in India deals with foreign currency transactions. You can both deposit and withdraw currencies that are not the Indian Rupee. All you need is proof that you either earned an income in foreign currency or are in need of foreign currency due to a legitimate reason. Let us say you are going for a trip to USA and need dollars, you can deposit rupees with the bank and ask them to issue you US dollars which they will do so.
What is the balance of payments account that records the amount of foreign currency the government buys or sells?
official revenue accounts
Can you deposit a cheque in a foreign branch of your own bank?
Yes, but you will probably be charged for it and have problems with currency conversion (the banks always sting you).
