Advertisement
Anonymous
Should I convert sgd to usd now, considering how well the usd is doing in the current market climate?
Should i convert sgd to usd now? it seems like a good time, so i can use it for investments overseas in the future.
2
Discussion (2)
What are your thoughts?
Learn how to style your text
Rais M
28 Feb 2020
Accountant at SME
Reply
Save
Too early to say. There's still the elections coming up.
Reply
Save
Write your thoughts
Related Articles
Related Posts
Related Products
StashAway
4.7
1296 Reviews
StashAway Simple Guaranteed 3.55% p.a. (Guaranteed rate)
Cash Management
INSTRUMENTS
None
ANNUAL MANAGEMENT FEE
None
MINIMUM INVESTMENT
3.5%
EXPECTED ANNUAL RETURN
Mobile App
PLATFORMS
Endowus
4.7
660 Reviews
Syfe
4.6
934 Reviews
Related Posts
Advertisement
Very hard to answer this type of question actually because it is tough to predict fx, especially when it comes to overseas investments as there are also the selling and exchange back to SGD to consider.
Assuming the exchange rate between USD to SGD is 1:1.4 now and you are going to make an investment of USD100k. You will need SGD140k.
5 years later, you believe you have make a profit of 10% and decided to sell the investment. But the exchange rate is now 1:1.3. USD110 (USD100k + 10% profit) will give us SGD143k.
Due to exchange rates, a profit of USD10k when convert to SGD is only SGD3k. Do take note of this FX risks.