Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Foreign Currency Savings Account, to save in USD as Malaysian

views
     
markedestiny
post Jul 14 2021, 12:40 PM

Enthusiast
*****
Junior Member
703 posts

Joined: May 2018
QUOTE(aichi @ Jul 14 2021, 07:52 AM)
thanks for your reply.

assuming that I know what I'm doing, where would you suggest me open my savings account?

anyways, I'm not going to store it forever though, I just need a place to store it at least temporarily(but certainly not forever).
At this point, my questions of asking should actually be easier than most people thought, because i asked a general question (without worrying the features of return rates solutions). I hoped its not the other way around.

thanks.
*
Assuming that you do know what you are doing, imho, you could consider SGD instead of USD. This is purely looking from the perspective of hedging against your expectation of weakness in the MYR.

USD which is being printed by the Fed, like nobody's businesses, is getting weaker too.

But this is not apparent to you as most currencies are getting hit by the pandemic too. It's been reported today on Bloomberg that SGD tops all the SEA's currencies.

Btw, You can check the strength of the USD using the US Dollars Index (DXY).

This post has been edited by markedestiny: Jul 14 2021, 06:00 PM

 

Change to:
| Lo-Fi Version
0.0134sec    0.49    6 queries    GZIP Disabled
Time is now: 29th March 2024 - 07:17 AM