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⍰ ASK How is the interest rate on an offshore bank account determined?

The interest rate on an offshore bank account is typically determined by the bank that holds the account and can be influenced by factors such as the current economic climate, monetary policy, and supply and demand for deposits. Some offshore banks may also offer higher interest rates to attract deposits, particularly if they are located in countries with high interest rates or a stable currency. Ultimately, the interest rate offered on an offshore bank account will depend on the bank's own risk tolerance and investment strategy.
 

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