facebookIf I feel Singapore growth is gonna be stagnant for the next few years, or if SGD is not going to be as strong in the future, is there any ways to store SGD in other currency for a long term? - Seedly

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Anonymous

06 Mar 2020

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Saving Hacks

If I feel Singapore growth is gonna be stagnant for the next few years, or if SGD is not going to be as strong in the future, is there any ways to store SGD in other currency for a long term?

For example, opening an account in US, and exchanging my SGD to USD and store there, whenever the forex rate is favourable.

Discussion (9)

What are your thoughts?

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You can create a multi currency account and change your money through it. You can also used the other currency to buy other equities to improve returns.

Alex Chua

28 Feb 2020

Seedly student Ambassador 2020/21 at Seedly

U may want to consider multi-currency card. It can help u store but doubt that it will earn you interest as of now. Otherwise, multicurrency account.

Another way is buy foreign stocks

There's this account by standard chartered which I use, USD high account, to store my USD.

There could be some value to put it into safe havens like Swiss Franken CHF

(or Japanese currency?)

However I would discourage currency speculation generally.​​​

Elijah Lee

18 Nov 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

One option is to consider transferring your funds to a trading account, and then converti...

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