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22-Feb-2008 21:23	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	im2212, The dual currency deposit is useful when you need to convert from one currency to another and if you are not immediate need of the 'new' currency. Please note.....it is not for FX trading Say you want to convert SGD to A$ today and the XC rate is 1.2944. You will probably need to buy the A$ (with your SGD) at a rate > 1.2944. (due to bid/sell spread)...perhaps 1.300? Then you will need to pay the bank a comm of between 1/8% to 1% which will add further cost. With the dual currency, you may be able to convert your SGD to A$ at a lower XC rate if you achieve the strike price which is the median of the XC rate on that day. So, you save on 2 counts:\ Bid/Sell spread Bank comm The down side is you may not strike in the first attempt......but then you retain your principal+ int of your original currency. I have used this method several times when I needed to convert currencies and have always been happy with the outcome. Those who want to try it, find a banker who will advice you according to your needs........but beware of those who just want to do the deal.
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22-Feb-2008 18:04	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	be careful on twin currency, almost every bank has it but named it differently, your return is on the higher interest but the loss can be significant on exchange loss. you guys may want to consider the following as a safer bet. This is actually a new note. Note to be launched : US market Merril Lynch and Citigroup Note to be launched : Singapore market DBS,Singtel, Noble group Notes are also launched for HK, AUD markets. How it works: This is how the new note works based on 2 counters Merril Lynch and Citigroup. Yields may differ for different counters. - For the 1^st month, you get a guaranteed 14% per annum. (14% divided by 12 = 1.1666 absolute) - At the end of 1^st month, if all 2 stocks are at or above 90% of initial price, the structure gets called-back and you will receive your 100% principal plus interest. Note will cease. - If any 1 of the 2 stocks at the end of 1^st month is below 90% of initial price, then the structure goes into 2^nd month. - For the 2^nd month, there is a daily observation of the price of the 2 stocks, you will earn 14% p.a. on a daily basis if ALL stocks are at or above 80% of initial price. Issuers will also observe if the note is called back. If any 1 of the 2 stocks at the end of 2nd month is below 90% of initial price, then the structure goes into 3rd month. - For the 3rd month, Interest will continue to accrue at 14%p.a. as long as the 2 stocks stays at or above 80% of initial spot. At maturity (end of 3months), if both stocks are at or above 80% of initial price, you receive your 100% principal plus the accrued interest for the third month. - If any 1 of the 2 stocks is 20% lower than initial price, you will have to buy the worst performing stock (out of the 2) at 80% of that stock?s initial price base on the initial invested amount. Coupon accrued will paid seperately in cash.
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22-Feb-2008 17:25	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	Good suggestion shplayer. I think I'll give it some considerations.
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22-Feb-2008 16:23	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	US$ likely to depreciate too many problems unsolved by FED
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22-Feb-2008 13:54	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	wow....Shplayer...this is informative. thanks.
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22-Feb-2008 12:45	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	When you convert your SGD to a Foreign currency, consider using the 'Dual Currency' deposit to convert. Most banks offer this tool. How it works........say you want to convert SGD to A$, say current A$/SGD is 1.2944(median), then you bet with the bank that the A$ will fall to 1.2932 in say 30 days (strike day). You then deposit your SGD with them with a pretty favourible interest for that 30 day term. If, on the strike day, the xchange rate is 1.2932 or less, then your SGD principle + interest will be converted to A$ at this rate. If xchange rate is above, then you get back SGD+interest. The advantage of this is you save on the buy/sell xchange spread, no xchange commission (usually 1/8% to 1%) and you get a favourable interest during the deposit period.
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22-Feb-2008 11:59	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	I think OCBC has the highest interest rate.
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22-Feb-2008 11:58	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	NZ about 7% and A$ 6% at Maybank..USD is likley to stay weak....wait for Sterling pound to be at $2.60 b4 going in again
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22-Feb-2008 11:23	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	US$ vs S$ is very low now, was wondering whether if I should put money into US$ time deposit. What do you think? Will US$ depreciate further? BUY or Hold?
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23-Sep-2007 15:58	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	Check the Finance section on SJ. There is a list of FD there.
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22-Sep-2007 13:52	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	time to buy us dollars, very cheap now.
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22-Sep-2007 11:33	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	Jappy..............just joking! When a Foreign Currency offers high interest rates for FDs, very likely the Currency is a 'weak' currency and may depreciate in values over time. The interests you gain may not be able to cover the exchange translation losses. Therefore, my advice is to avoid such investment tools and stick to thing more easier to handle and not lose your pant. But if you've extra cash to throw, may consider the RMB. It is still very under value... it has to appreciate in value in the next 1-2 years. Just my views and buy at your own risk! Cheers!
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22-Sep-2007 02:06	Fixed Deposits / FD for Other Currencies Go to Message
x 0 x 0	At the moment i feel that Stock market is not that attractive, Anyone know that any currency is worth to invest, pls share as the FD for Sing dollar is too little.
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