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Foreign Currency Fixed Deposit - FCFD. DEFINITION of 'Foreign Currency Fixed Deposit - FCFD'. Foreign Currency Fixed Deposit (FCFD) is a fixed investment instrument in which a specific sum of money which is poised to earn interest is deposited into a bank.What is fcfd (foreign currency fixed deposit)?
A Foreign Currency Fixed Deposit (FCFD) is a fixed investment instrument in which a specific sum of money that is poised to earn interest is deposited into a bank.What is the interest rate on fcfd account?
The $100,000 is deposited in the FCFD account for one year and earns an annual interest of 1.5%. After the tenure ends, the USD is sold for CAD at the prevailing foreign exchange rate offered by the issuing bank.How do I invest in an fcfd?
An FCFD can be invested in in two ways—opening a local account that offers deposits in the foreign currency that the investor would like to gain exposure to or opening an account in the foreign country itself. Interest rates, minimum deposits, tenure periods, and available currencies vary from bank to bank.