Q: Can ordinary people "bargain" with banks on interest rates when they deposit foreign currency in the future?
A: There are still many restrictive conditions in this reform measure, which is nothing new for ordinary depositors who only hold a small amount of foreign currency. According to relevant data, 80% of China's foreign currency deposits are small foreign currency deposits below $3 million. Most of the foreign currency deposits above $3 million are those of enterprises and institutions. Therefore, ordinary small depositors cannot "bargain" with banks on interest rates at present. Moreover, the increase in the interest rate of foreign currency deposits does not mean that domestic foreign currency funds are seriously insufficient, but only to be in line with international standards. Although there is competition among commercial banks in the future, they all have their own market strategies, and most of them adopt a "grain-oriented" attitude towards foreign exchange loans with greater risks. Only with good loan projects can we absorb the right amount of foreign currency deposits to balance it, not the more the better. Judging from the current real interest rate of large foreign currency deposits opened by several large domestic banks, the floating rate is extremely cautious and very small. Therefore, it is unrealistic to expect to borrow a large amount of foreign currency funds at a higher cost and pursue the "high interest rate" of deposits.
Q: What knowledge do residents have about "currency, term and method" in saving small foreign currency deposits?
A: At least pay attention to the following two points: First, we should "choose high and abandon low" in the storage of money. Judging from the interest rate of small foreign currency deposits announced in this adjustment, it has risen and fallen. The interest rates of foreign currency deposits such as US dollar, Canadian dollar and euro have all increased to varying degrees, while the interest rates of foreign currency deposits such as British pound and Hong Kong dollar have declined to some extent. Among them, the interest rates of four grades of US dollar time deposits all rose by more than 10%, and in the three months with the largest increase, the time interest rate rose by 0.5625 percentage points. In the six months when the euro rose the most, the fixed interest rate rose by 0.6875 percentage points. Although the interest rates of British pound and Hong Kong dollar have dropped slightly this time, they are still much higher than the interest rates of RMB deposits in the same period. According to the basic principle of "stable currency exchange rate and high deposit interest rate", US dollar, British pound, Hong Kong dollar, Canadian dollar and euro should be the first choice for strong reserve currencies. If you hold a foreign currency, you can consider converting it into a strong reserve currency.
Second, the choice of deposit term should be "short, flat and fast", and the access method should be "chasing up and down as appropriate". With the deepening of the marketization reform of foreign currency interest rates, the changes of foreign currency interest rates may be more frequent in the future. Therefore, in the choice of storage period (including transfer and renewal), the storage period should be 3 ~ 6 months. If you choose to deposit for too long, after the interest rate changes, you will face the trouble and possible losses of transferring. In general, when the interest rate of a foreign currency deposit rises step by step, there will be a relatively stable period; When its oscillation drops, there will also be a gradual decline process. Therefore, once the interest rate is raised or raised soon, it can be transferred in advance or renewed at maturity to "make up". Even if the future interest rate of a foreign currency is lowered and exceeds the pre-set psychological stop-loss price, it can be withdrawn in advance and replaced with other hard currencies to avoid greater interest losses.
Q: Are there any good suggestions for residents to deposit foreign currency?
A: In case of interest rate adjustment, it is not cost-effective for residents to withdraw their deposits with a rollover period of more than half. The suggestions are as follows:
1. If the foreign currency is deposited for a short time, or automatically transferred after maturity, and the deposit period is less than half, you can take it out and transfer it. Although the time saved is calculated according to the current interest, the interest income obtained in the future will be higher than the loss;
2. If the foreign currency deposit is about to expire, or has exceeded half of the original deposit period, you don't need to take it out and transfer it in a hurry, but you can deposit it after the expiration, so you can get the high interest due. Can also catch up with this high-interest deposit opportunity.
3. Currency exchange should be "less exchange and less exchange", think twice before you act. Because banks have to charge a certain fee for foreign exchange, and the exchange is based on the "cash buying price" rather than the "foreign exchange selling price". The price of the former is much lower than the price of the latter, and depositors will have some losses, sometimes even exceeding the interest difference. In addition, RMB is not freely convertible under capital account, and it should not be easily convertible when the income from RMB deposit is less than that from direct foreign currency deposit.