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Offshore account dollar confusion
researcher35
Posts: 1 Newbie
I have $100000 from some compensation I received after being involved in an court case in the USA. I live in the UK but I plan to wait for the $ value to increase before I exchange the money to sterling (in the belief that the dollar's value will improve eventually!) My offshore account is with LloydsTSB and they are paying me very little interest - around 1%.
So I'm confused re what to do:
Option 1) Change the money to £ and put it in a high interest account?
2) Keep the amount in dollars and find an (offshore?) account with a better interest rate.
Any suggestions would be much appreciated!!
So I'm confused re what to do:
Option 1) Change the money to £ and put it in a high interest account?
2) Keep the amount in dollars and find an (offshore?) account with a better interest rate.
Any suggestions would be much appreciated!!
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