Is it a good time to change most of my foreign currency now? I.e. My sgd... Got few Thousands in hand...
Or just keep monitoring?
ringgit Malaysia drop , how to I change my RM to USD
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 Jun 14 2015, 01:47 AM
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700 posts Joined: Sep 2008  
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Jun 14 2015, 03:27 PM
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#2
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700 posts Joined: Sep 2008
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QUOTE(supersound @ Jun 14 2015, 01:01 PM) Your few thousand is during which time? sorry, i did not make it clear that my SGDs earned are frm running a business there... Keep those misleading theory aside, to know your actual gain, you need to know at the price you bought, if you got it at rm2.50 last year, then selling it now at rm2.75 for SGD1000, your gain is 10%. I have a friend that earning USD in Qatar, last year only rm3.20 and now rm3.75. He just change it back to rm for USD20000, that's rm11000 of gain.  i have zero expenditures, is mostly dealing with collecting and paying cash (paying out is usually a rare occasion).. some of u might already know the gist of it already  QUOTE(Hansel @ Jun 14 2015, 03:57 AM) IF it's me, I wld not change back my SGD and USD. I wld go for SGD-based and USD-based investments to generate more SGD and USD. I will only convert back the cashflow that I managd to generate. what kinda investments are u talking about? got some examples i can google on?QUOTE(T231H @ Jun 14 2015, 09:19 AM)  in hand = not growing (except MAYBE from exchange rate appreciation)then read page 21, post 415.... (Remove the "interest rate earned" from SG bank bcos yr money in hand will not hv interest) |
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Jun 15 2015, 01:49 AM
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#3
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QUOTE(supersound @ Jun 14 2015, 04:08 PM) So, it means it is "fresh" money every month, right? If yes, then is no difference. not every month but occasional.. its a seasonal and "on-demand" kinda biz... but sure profit.. since operation is online at zero cost (i think u all know what biz d. lol)Putting in Malaysia's bank FD will be yielding 3-4% a year. Investing in shares or trust funds are not really a good idea considering current situation. My auntie that used to look for Datuk's money for trust funds also starting to look for relatives to dump money. Keeping cash in FD still the best way now, as when you need to use the money, your rm1000 still rm1000. But in funds or shares today you put rm1000, on the spot you lose out ~rm100. investment wise i do personal loans (quite big risk since i do not ask them to sign any papers or sign jpj transfer form) to close ppl so i get few % a month... but i did invest in Kenanga few K recently to support friend....... my biz requires CASH at bad times (the rare occasion) but i can easily get interest free loans for few months if i suddenly bad cash flow... thats why im thinking now what to do with my other spare cash... and those foreign currency i have like SGD and HKD which are on the rise... |
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