Because still low compare to 20 years ago 12% oh!!! That time Dr. Mahathir our PM.

Same as opening a foreign currency account in Malaysia. Public bank offers 6.7% for a year. Interest added on and auto renew. No need fly so far away...

for foreign currency account in malaysia, do we have to exchange in the bank or we can change in the exchange shop and deposit in the bank?

so if malaysia one year FD is 3.6% and foreign account AUD is 5.4%
as long as we don't lose 1.8% (fluctuation of AU/MYR + conversion rate), we are gaining

agreed. But you exchange RM into Aus when exchange rate is low which I did as well. But not now when AUS is 3.2.

I hv NZ foreign currency account as well but the interest rate now is low-comparable to local bank FD rate. I am converting back to RM. Earlier I bought at RM2.464, now is RM 2.528

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Added on July 27, 2011, 1:57 pm
Public bank offer.......
https://www.pbebank.com/en/en_content/perso...tions/fcfd.html

for foreign currency account in malaysia, do we have to exchange in the bank or we can change in the exchange shop and deposit in the bank?

so if malaysia one year FD is 3.6% and foreign account AUD is 5.4%
as long as we don't lose 1.8% (fluctuation of AU/MYR + conversion rate), we are gaining

try this

https://www.pbebank.com/en/en_content/perso...eposits/fc.html

It is strong now thanks to the trade surplus to china mainly on coal.
Actualy economy is not in a good shape and hence the high interest rate trying to reduce spending.

Nice.

Its best you understand interest rate. Also go and check the banks average deposit to lending ratio in Aus. Its worse than the statistic shows as its being helped by foreign wholesale funding like debt instruments etc and I might add ppl like your goodself.

The pic that was shown by you is actually countries that are least affected by old money politics.

Aus also has almost a unfair trade with a lot of countries. Its either I owe you a lot or you owe me alot. To be fair they suppose to be trading equally.When unfair trade happens a lot of debt instruments will be made with the backing of your country economics.I have forgotten the name of the Swiss bank that handles this, and once met a guy who works there during a wedding. Its really interesting hearing him talk what actually happens behind the scenes.

China spending now has been the most interesting. They have been stocking up a lot of raw materials with the extra trade surplus they have to negate from any future issues. Thats basically using current extra cash to make sure the future holds bright.

So the big question. What has Australia been doing with their extra cash??

Its always a bad thing for a develop country to have high interrst rate. They are trying to encourage savings but with the high inflated living cost, its still not working yet. The reason for this is to increase their deposit to lending ratio.

crixalis

1.Their currency strength does not reflect their economy
2.Learn reason for interest rate and it has nothing to do with housing bubble or the economy crisis
3.Stop reassuring yourself that you made a correct fundamental risk assesment when you bought and realize the real trurh on its currency price hike.

crixalis