Monday 08, February 2010 by
More than half of US dollar offshore savings accounts paying less than Fed rate
In addition, Investec’s quarterly US Dollar Offshore Savings Index reveals that the average rate of interest paid on US dollar offshore savings accounts for balances of $50,000 fell by 0.04 per cent to just 0.41 per cent during the three month period 28 August 2009 to 30 November 2009. This is despite the Fed rate remaining static since it was cut to 0.25 per cent on 16 December 2008.
