Dublin-based MMPI has launched a new investment product based on movements in foreign exchange rates.

Depositors who invest in the MMPI Protector Account for two years and six months will get their deposit back from Ulster Bank at the end of the period. In addition, they will get a return based on movement in foreign exchange rates managed by Barclays Capital.

Bryan Moloney of MMPI said the account would appeal to depositors being paid a very low interest rate by their bank. Bank deposit rates are set to fall and foreign exchange rates have no direct correlation with interest rates, shares, bonds and other commodities.