Noticed recently USD is strong vs SGD. Anyone knows if it will remain strong in new few months? I have some USD in FD. Not sure to wait till maturity or convert first. Thanks - Seedly
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Anonymous

Asked on 20 May 2019

Noticed recently USD is strong vs SGD. Anyone knows if it will remain strong in new few months? I have some USD in FD. Not sure to wait till maturity or convert first. Thanks

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At today current market rate, the USD is considered in a favorable position, definitely a good time to consider converting.

However, the next question is after you converted USD back to SGD, what are you going to do with it? If the investment in SGD will yield better than your current USD FD, than why not? Unless you got other reasons to hold USD

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Alex Chua
Alex Chua, Freshmore (Engineering System Design) at SUTD
Level 6. Master
Answered on 28 Feb 2020

Sgd depreciates against usd because of covid 19. This is to be expected. Whether sgd remains strong, maybe u can tell us?

Whether u want to convert is up to you. The most important thing is what u want to do with sgd or usd.

If u want to invest in sg stocks, go ahead and convert

If u want to invest in us stocks, why convert?

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Geraldo L.
Geraldo L.
Level 7. Grand Master
Answered on 28 Feb 2020

Indeed strong right now. But you considered using your USD to buy US stocks?

And also, any plans for your USD in your FD right now or just for Forex purposes? If no other plans and you are only using it to exchange to SGD then your purpose of high USD has been met now.

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Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jun)

Level 9. God of Wisdom
Answered on 27 Feb 2020

I feel that nobody can know the answer to that question.

How could somebody know the future?

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