In my humble opinion, putting money in foreign FDs is the easy part, bearing the loss in exchange maybe more difficult to accept. When parking ur money in foreign investments make sure u hv sound assets that grow at least in double digit figures to negate the risk of fluctuation against the base currency.
Despite what banks advertise or tell u, it's usually unsuitable to park funds for less than 10 yrs in foreign FDs unless u intend to spend the money in that country or make payment to a foreign party shortly.
Forex differentials can easily wipe out your gains in FD interest in the short term.
Bond funds can give higher rates of return than local FDs but usually in a span of 3-5 yrs so u must not treat them like FDs. There's nothing safer than local FDs for investments periods shorter than 3-5. so don't dream. Only investment vehicles like EPF & a few govt.sponsored unit trusts can give rates higher than local FDs with quality of safety & liquidity similar to local FDs. Bond funds average 1-3% above local FDs but they have a std dev risk of approx 1-2% from their mean.
Don't put short-term funds in long-term vehicles, neither shd u put long-term funds in short-term vehicles otherwise ur funds are likely be eroded by real inflation.