She Rambles On

Foreign Currency Fixed Deposit

This morning, I was told that foreign currency fixed deposit has a higher interest rate than keeping our money in a local fixed deposit account. It seems that by locking our money for one month in a foreign currency FD account, we will be reaping what investors in local bank FD (in Ringgit) will get in three months.

This sounds like a great option considering that we will be able to lock our money on a month by month basis so that should we need to ship out, we would not have lost our time. Of course, only invest in a currency that is very stable against the Ringgit. Bank staff in charged of foreign currency FDs may be able to advice.

I am going to monitor the exchange rate for this month and see how stable it is. I have plenty of time nowadays anyway

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