Two banks. I have notice are offering around 4% for 6-month foreign currency account for Australia dollar. With 1 Australia dollar exchangeable for 1.22 Singapore dollar last done, it could be a value for money exchange rate if you are going oversea to Australia for a vacation.
As I need to exchange a sum of money at the money changer to be placed inside the foreign currency account. Any kind people here who can tell me is there any adminstrative or miscellaneous costs I need to pay upfront to open an account? Further, is there a maximum limit for changing my Singapore dollar to another currency.
There's some financial risks in foreign currency accounts right?
I wun go in at 1.22, 1.43 is the highest if I didnt remember wrongly....
Usually it gets stuck at 1.30... plus political risks in Australia....
In my opinion. I will go in at AUD1=SGD1... LOL..
Originally posted by Junyang700:I wun go in at 1.22, 1.43 is the highest if I didnt remember wrongly....
Usually it gets stuck at 1.30... plus political risks in Australia....
In my opinion. I will go in at AUD1=SGD1... LOL..
U FOREX expert?
Originally posted by Mountain Dew:
U FOREX expert?
Nope. But I tried buying currency from money changer once....
Bought @ AUD1 = SGD1.05, Sold @ AUD1 = SGD 1.21
For AUD$1,000.... I earned SGD 160 back then... LOL...
Havent bought Forex though. Anyway, the trend for AUD can range from 1 AUD = SGD 0.90 - SGD 1.43 ... Up-downs... Usually stucks at 1.25.