Thanks for the information that you educate others with on about.com. I was writing to ask if you knew of any US banks that allow customers to hold their savings in currencies other than the US dollar? I've done some research on the Internet, and it seems that these types of accounts exist more in the UK. I was wondering if any allow for holdings in the Chinese yuan or Indian rupee? The reason I'm asking, currency trading accounts seem risky and I don't like their margin requirements, a savings account or holding a CD in a foreign currency seems like a safer alternative.I don't know the answer, so I thought I'd throw it out to site visitors - does anyone know of a U.S. bank that allows you to have rupee denominated accounts? In Canada having U.S. Dollar accounts is pretty common (I have one personally and so does one of the businesses I own). But I'm not sure about the U.S. banking system and for currencies more exotic than the Canadian dollar.
At the very least it should be possible to buy bonds denominated in Indian rupees. Does anyone have any recommendations on the best place to go to do this?