That means that holding other currencies that return far higher interest rates can be beneficial.īasically, you can get paid for taking one of two risks: institutional risk or currency risk. While we wouldn’t rush to open a Turkish lira term deposit, there are other currencies that you can expect to appreciate or at least remain flat against the benchmark US dollar.

There is a risk that foreign banks may not be as sound, but in many cases you can find banks that are supported or owned by larger banks or wealthy family offices. Having said that, recent attempts to curb US inflation could make those rates artificially high, especially when you consider that monetary policy is fickle and subject to change. Efforts to stabilize prices, in the face of rising inflation, have been reflected in deposit rates for high-yield savings accounts. The Federal Reserve recently raised US interest rates to a range of 5.25% to 5.5%. Find out more about our tax planning and offshore banking services here. This article is a rundown of the countries where you can earn the highest interest rates in the world today. There are also emerging world banks that desperately need US dollars or euros, and will pay handsomely for it.

While depositing money in US dollars, euros, or British pounds in developed world banks can seem safe and should likely comprise a good chunk of your cash portfolio, there are other options.

Swiss bank term deposit rates