Foreign currency deposits - gaikayokin

A general term for deposits denominated in foreign currencies such as the US dollar, euro, and Australian dollar. As interest rates in Japan are relatively low among major countries, you can expect interest rate differentials, and in situations where the yen weakens and foreign currencies strengthen in the foreign exchange market, the principal converted into yen increases, allowing you to anticipate exchange gains. Conversely, if the yen strengthens since the time of deposit, there is a risk of incurring exchange losses.

The Foreign Exchange Law was revised during the Financial Big Bang of 1998, and in addition to major banks, all financial institutions, including regional banks, credit unions, agricultural cooperatives, and branches of foreign banks in Japan, were able to handle foreign exchange. As with yen deposits, there are ordinary and fixed-term deposits. Exchange fees are charged both when depositing in foreign currency and when converting back to yen. In recent years, funds have flowed into foreign exchange margin trading, which has lower fees than foreign currency deposits, but after the 2008 global financial crisis, there has been a growing trend to avoid foreign currency deposits. As foreign currency deposits are not covered by the deposit insurance system, there are cases in which the principal of the deposit is not guaranteed if a payoff is implemented.

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Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

アメリカドル、ユーロ、オーストラリアドルなど外国通貨建ての預金の総称。日本の金利が主要国のなかで相対的に低いため、金利差を期待できるうえ、外国為替(かわせ)相場で円安・外貨高が進む局面では、円に換算した元本が増え、為替差益を見込める。逆に預金時より円高が進むと、為替差損が生じるリスクがある。

　1998年（平成10）の金融ビッグバンで外国為替法が改正され、大手銀行のほか地方銀行、信用金庫、農協、外国系銀行の在日支店などあらゆる金融機関が扱えるようになった。円預金と同じく普通預金と定期預金がある。外貨に預け入れる場合と、円に戻す場合の両方で為替手数料がかかる。近年、外貨預金より手数料が安い外国為替証拠金取引へ資金が流れたが、2008年の世界金融危機後、外貨預金を敬遠する動きが広がった。外貨預金は預金保険制度の対象外であるため、ペイオフが実施された場合、預金元本が保証されないケースがある。

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