Sunday, March 1, 2009

More Everbank World Currency CDs Implode

The financial crisis in Eastern Europe has caused the Polish Zloty, the Czech Koruna and the Hungarian Forint to lose close to 50% of their value against the US dollar. Everbank's "European Opportunity CD" is made up of these three currencies. Likewise, $10,000 invested in an Everbank Mexican Peso certificate of deposit in August, 2008, is now worth about $6500.

Meanwhile the Icelandic Krona continues to stabilize, and has appreciated about 12% against the US dollar since the beginning of the year.