Should I park my duit in usd or sgd?
|
|
 Feb 14 2025, 09:59 AM, updated 10 months ago
Return to original view | Post
#1
|
 
Junior Member
345 posts Joined: Aug 2021 
|
So I got like 500k ringgit in liquid form..
Looking at msia economy and devalue in terms of usd. I figure it's better to park in usd or sgd Easiest way is to buy sgd and bank in my sg cimb account But I live in penang, quite difficult, Another way is I wise transfer to my ibkr but transaction is 0.2%, later change back ringgit again 0.2%? Is there any other way? |
|
|
|
|
|
Feb 14 2025, 10:50 AM
Return to original view | Post
#2
|
|
Junior Member
345 posts Joined: Aug 2021
|
QUOTE(erry- @ Feb 14 2025, 10:36 AM) u can open rhb multi currency account (got both conventional and islamic) What's the exchange rate? Only can put ringgit then covert usd, then usd convert back ringgit?no currency conversion fee (33 currency only) just that, debit card annual fee is 20/year   |
|
|
Feb 14 2025, 12:20 PM
Return to original view | Post
#3
|
|||
|
Junior Member
345 posts Joined: Aug 2021
|
QUOTE(Medufsaid @ Feb 14 2025, 12:11 PM) https://www.rhbgroup.com/treasury-rates/mul...card/index.html if you already paid for the RM20 annual debit card, can look at Multi Currency Account/-i Debit Card Special Counter Rate* How to fund my sg account? btw, use sunway money for IBKR (via sg banks). cheaper https://wise.com/my/pricing/hold-fees?sourc...USD&track=false https://wise.com/my/pricing/hold-fees?targe...SGD&track=false
Previously I funded my ibkr account using sgd I buy with my closed friend who are working in Singapore, after awhile, they also don't layan already. Is there anyway to buy sgd with ringgit online? |
|||
|
|
Feb 14 2025, 12:25 PM
Return to original view | Post
#4
|
|
Junior Member
345 posts Joined: Aug 2021
|
QUOTE(kelvinlym @ Feb 14 2025, 11:52 AM) Don’t worry about the fees. Aim for convenience. Can I use the account to receive in USD?I use HSBC. With that amount, open premier account, then call relationship manager say you want preferential rates. Try to change mindset from picking pennies to looking at big picture. Pay for the convenience and security. My salary is received via usd then auto convert to ringgit now with maybank savings account. If I use HSBC, would it retend as USD? |
|
|
Feb 14 2025, 12:25 PM
Return to original view | Post
#5
|
|
Junior Member
345 posts Joined: Aug 2021
|
QUOTE(erry- @ Feb 14 2025, 11:54 AM) exchange rate by rhb, Can I use the account to receive in USD?as usual, bank like to use word "attractive interest rates" haha u can convert, or u can also use that currency with the debit card. example u buy gbp, and when in london, it will deduct ur gbp balance (provided u have enough balance of gbp), if less, it will deduct myr balance + 1% conversion fee. My salary is received via usd then auto convert to ringgit now with maybank savings account. If I use HSBC, would it retend as USD? |
|
|
Feb 14 2025, 04:57 PM
Return to original view | Post
#6
|
|
Junior Member
345 posts Joined: Aug 2021
|
Sunway money I have account but last I tried the exchange rate not as good as wise
|
|
|
Feb 14 2025, 05:46 PM
Return to original view | Post
#7
|
|||
|
Junior Member
345 posts Joined: Aug 2021
|
QUOTE(Medufsaid @ Feb 14 2025, 05:01 PM) Paradigmata their rates got way way better 4-5 months ago. my screenshot is live comparsion as of 12pm today want to format it this way but malas I check with ringgit to usd isn't that much different
 | |
|||
| Change to: |  0.0161sec
 0.70
 6 queries
 GZIP Disabled
Time is now: 4th December 2025 - 03:15 AM |
Quote
