saving in other currency for UK based folk
saving in other currency for UK based folk
Author
Discussion

steveo3002

Original Poster:

11,084 posts

198 months

Tuesday 7th January 2025
quotequote all
i noticed on my 212 trading app that Hungarian HUF was at 7% interest

guessing its not as easy as depositing HUF and taking the 7% vs 4.x% GBP

anyone looked into this?

Jiebo

1,083 posts

120 months

Tuesday 7th January 2025
quotequote all
It is as easy as that, but the problem is exchange risk. The HUF is weak right now against GBP, but it could get stronger, or GBP weaker, and very quickly wipe away your 2% rate gain, plus another 20%.

dingg

4,475 posts

243 months

Tuesday 7th January 2025
quotequote all
Huf a is as weak as piss v gbp you'd be out on the exchange rate more than the difference between the two applicable rates of interest...

No such thing as a free lunch