Diversification for long term, yes.

Hedge against Rm especially for short or mid term? No.
You don't gain much actually if the amount is not significant.

While if amount is significant, there are plenty alternatives which may be more effective and better way or can get better yield compared to foreign currency FD rate that able to hedge against RM.

10 years is considered long term enough. We don't have many x10 years, probably only a few up to around 5. 

May explore/post in the foreign currency FD, which we talked plenty previously.
https://forum.lowyat.net/topic/512136/+440

"QUOTE(kinwawa @ Jun 20 2016, 11:12 AM)

OK thanks Sifu Cherroy....
Indeed it's for diversification.....had already some on promo FD rates. Looking at the way RM is dropping....planning to hedge some in foreign currency maybe for the next 10 yrs.....not planning to use the money...

based on your advice, 10 yrs considered short-, mid- or long- term?

thanks"

Tq bro Ramjade,...

Kinwawa... it depends on the timeframe you can afford to leve your funds there before you need to take it out for usage. The longer the timespan you have, the higher your chances to gain from your foreign currency investment. YOu can change back from the foreign currency into the RM if you wished to use the funds when the RM has weakened adequately against that foreign currency that you are holding.

The following graph will demonstrate how long it took for the SGD to pull ahead vs the MYR, and finally reached the level of the SGDMYR today :-

http://finance.yahoo.com/echarts?s=SGDMYR%...ing":true}

From this graph, you can estimate how long you need to leave the MYR 'overseas',... but it also depends on your entry level and the timing of your entry,...

Let us know,...

Good point on the customer base spread for FD in banks. 

Yes, I remember last time bank did impose the >1 mil deposit then lower interest rate. But now this may not have been implemented by all banks.