[USER]

We’ve recently gone to Japan and have some Japanese yen left.

The conversion rate back to dollar is terrible right now ($1=~150 yen).

Is there a foreign currency saving account that we can deposit in yen and keep it in yen while accruing interest until we go to Japan again?

[Richard]

Two more potential options: Fidelity (with forex enabled) and Everbank.

[Shawn]

I think Interactive Brokers does this. Japan has terrible monetary policy.

At such low rates I would rather borrow the yen and invest elsewhere.

[Kaylee]

Yeah. I’ve got two options with a bank and an online broker firm.

if you just wanna store the yen (not investment). Consider opening a HSBC Everyday Global account, you can get access to 11 currencies in a single account, can even place FD in your desire currency (FD rate follow the country’s rate)

I had similar issue when I moved to Malaysia. Bought the ringgit using Wise. I tried saving money at Wise, but after deduction from all the charges, I feel like I’m only losing money.

You can explore brokers like IBKR (Interactive brokers) with a 4% on uninvested cash Or Hisense brokers (my preferred for this) going by their more effective currency flexibility methods and interest returns. I personally love the ease of access. Do your research on these.

[Author]

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