The only risk would be a currency devaluation !I've been told that many ex-pats invest and live off the monthy interest paid on this CD. Is this true, and if so, is it recommended given the inherent risks?
This is pretty dicey, particularly if it is your only source of income.I've been told that many ex-pats invest and live off the monthy interest paid on this CD. Is this true, and if so, is it recommended given the inherent risks?
and I was one of those people. I'm way ahead on my initial "gamble". However you may consider holding off investing in pesos. See where it goes in the next few months. Buy distress sale real estate. There's some bargains out there.There's two sides to every story.
What about the folks who bought CD's offered at 50%, when the exchange rate was 50:1 ?
And then it dropped to 30:1.....
It works both ways.
Look at the history of the pesos' value in relation to the currency of your choice. Then factor in the interest rate. Real simple. Good luck.:cheeky:Lemme splain this:
The RATE is fixed, the TASA you bought RD Pesos vs your Libra Esterlina fluctuates every day cwazy wabbit!