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This is NOT an offshore account! It's a multicurrency account that lets me convert between two currencies, when I choose. Back when I was receiving cheques I would sometimes hold them for a few weeks, waiting for the exchange rates to improve. Now I can just let my (cleared) USD funds sit there until I'm ready to convert.
Being able to snag a realtime rate pushes things up a notch because you're no longer locked into the "we'll update this every few hours and add a few percent safety margin" rate.
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