Lastest S$ Deposit updates - Part 1

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BillGate888

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I want to take advantage of the weak USD now and convert some SGD to USD, place them in 2-3 years USD FD and later use this money for my son's education in the US. So, besides, SBI and ICICI anywhere else offers good rates for USD FD now?

US dollar gonna depreciate against strong sing dollar. Are you sure u wanna do that? Think again. After QEII from US, there might be QEIII, QEIV, etc....
 

kyma

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I know.

In the long term I dare say or bet that USD will drop.
True. But it will not be a straight line drop. Or else, all the foreign currency traders are all trillionaires now. After Obama is re-elected, then it will drop for another few years as he cannot serve more than 2 terms. So, he will heck care liao! :)
 

mosmos

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CNY FD promo from SIF~ :o

source: http://www.sif.com.sg/promotions.htm

ST110120SIFFD.jpg
 

cybercom8

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poster so big but not a mention of the interest rate. or are they just giving out cans of abalone in lieu of interest? :s13:
 

Cashcow

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You can get higher returns elsewhere and can use the returns buy 10 cans of abalone oso no problem.
 

henrylbh

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Really? Care to share your reasons for thinking so? This will be important for me.

I got no reasons. USD for short term speculation is ok if you got reasons that it will appreciate.

But in the long term, history has proven that USD will go down and down from a fixed rate of $3 when I was schooling.

Not long ago, some in this forum did not believe that USD will go down from 1.45 to now about 1.30.

I got some USD 3k under my mattress that was left over from a trip when the rate was 1.80. Earlier trip, the rate was 2.20.
 

jaaaack

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hi guys, need some advice here.

i'm planning to study in the UK some time in late 2012/early 2013. should i take advantage of the weaker pound now(about $2.05:£1) and convert the full fees for FD in preparation for my education? or should i convert a certain sum monthly to achieve a more balanced, average amount? thank you!
 

henrylbh

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hi guys, need some advice here.

i'm planning to study in the UK some time in late 2012/early 2013. should i take advantage of the weaker pound now(about $2.05:£1) and convert the full fees for FD in preparation for my education? or should i convert a certain sum monthly to achieve a more balanced, average amount? thank you!

I doubt anyone can answer you. Obviously you are in a fixed.

To convert now is to take a risk or gamble. Not to convert is also a risk or a gamble. I hate such situation.
 

cybercom8

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hi guys, need some advice here.

i'm planning to study in the UK some time in late 2012/early 2013. should i take advantage of the weaker pound now(about $2.05:£1) and convert the full fees for FD in preparation for my education? or should i convert a certain sum monthly to achieve a more balanced, average amount? thank you!

put in short term pounds/s$ currency swop for the higher interest and the if sway sway got converted, you can always use the pounds for your education and keep the balance in a multi currency acct and wait for the forex rate to be in your favour and rinse and repeat.
 

tan1688

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simple convert half of what you require in pounds today ...

if pounds drop in future the pounds exchanged today is average out.

if pounds rise in future, wait again for pounds to drop ..
 

beehive3783

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Fairprice Plus savings account rates are getting lower and lower, do you think I should terminate the account and move the monies into my existing Maybank iSavvy Savings a/c?
 

mosmos

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Fairprice Plus savings account rates are getting lower and lower, do you think I should terminate the account and move the monies into my existing Maybank iSavvy Savings a/c?

Just put 10cents inside the FPP account. :o

Keep it to earn linkpoints and 8% discount for housbrands. :o
 

genie47

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Fairprice Plus savings account rates are getting lower and lower, do you think I should terminate the account and move the monies into my existing Maybank iSavvy Savings a/c?

FPP don't have the minimum charge. So if the account falls to 10cents, they don't charge you. This is the big PLUS for the account. Good for you. You don't park money here. You transit money here.
 

beehive3783

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Thanks for the tips mosmos and genie, I guess I will just withdraw whatever I can from the FPP a/c and transfer to my iSavvy a/c for better interest rates.
 

genie47

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Thanks for the tips mosmos and genie, I guess I will just withdraw whatever I can from the FPP a/c and transfer to my iSavvy a/c for better interest rates.

It is my salary deposit account. Which means all the GIRO goes through it as well. The money transits here.
 
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