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  • 5 weeks later...

For US citizens and maybe others, a little known (but for me over 20 years a very dependable) solution to forex dynamics and interest rate differentials is the US entity EverBank. It offers foreign currency cash accounts that are FDIC (i.e., US government) insured up to USD250k, and if you treat your holdings of such three-month CDs as long term, forex fees are minimal.  Over the last few years the USDMXN has depreciated about 20% while such CD accounts have paid around 10%/yr.  This trend is likely to continue, if at a more modest rate, inho.  See: https://www.everbank.com/diversified-investing/foreign-currencies

It's a different beast entirely, but a Forex account allows one to buy and sell currency pairs with generally tiny expenses, 24 hrs/day, except for weekends.  

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