If you have or are receiving dollar remittances, you may wonder what your smart move will be with the current currency movement. Originally, having a dollar account might be on your bottom list when it comes to saving money or doing investments. But there’s no limit when it comes to saving or investing, maybe it is time to consider having a foreign currency deposit account, apart from your normal peso savings account, and here’s why:
Investments in dollars are helpful for diversification. It is one of the most reliable currencies and is widely accepted and exchangeable across the globe. If you want a good financial portfolio, you should consider getting one.
Options in withdrawing
You can withdraw some of your funds both in pesos and in dollars. You may use it to your advantage, especially when the dollar-to-peso conversion rate is high. You have already earned from it by the time you withdraw it.
If you are considering having one, it’s time to consult your bank who understands this savings and investment product and can help you determine if this is appropriate for your financial portfolio.