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Monday, April 16, 2012

Foreign Currency Fixed Deposit (FCFD)

Hi just wish to share out this promotion too, as I saw this promotion quite nice to share out...

http://www.pbebank.com/en/en_content/personal/promotions/fcfd.html

As last time I been placing some for FD also, so when mature time just check the exchange rate is better then when you place the FD, if higher then you can withdraw the FD or depends on your own wish, but when the rate is lower then just renew it for another month.

For advise, just place the extra funds as it not really secure when the rate is down or when you need the funds urgently.

For example is clearer pictures as I like to counts also so that why I on the Accounts line for more than 10 years already. If got any mistake do let me know so I & you can learn from mistake. Thanks.

All information base on Public Bank rate 18/04/2012 12.15pm

Let say I got RM 10,000.00 as the minimum to open the FCFD is RM 10,000.00
Rate for AUD is RM 3.229 so I got AUD 3,096.93
Rate for 1 mth FCFD is 4.3%p.a

So after 1 mth, 18/05/2012 you got AUD 3,096.93 x 4.3% x 30/365 = AUD 10.94 + AUD 3,096.93 = AUD 3,107.87
If the rate on 18/05/2012 is AUD 3.2 = RM 9,945.18 Loss so advise not to withdraw
If the rate on 18/05/2012 is AUD 3.3 = RM 10,255.97 Profit if wish to lock the profit then withdraw, right.

As for normal FD 1 mth placement just got 3.00%p.a, you only can get RM 24.65 as interest.

So as above situation, normal FD is safe as you won't worry about the foreign currency loss but once it rate go up by RM 0.07, you can gain RM 231.32 ( RM 255.97 - RM 24.65 ).

If you gain on the above placement, don't forget do spend me some drinks too... 100 plus will do. Ha Ha Ha

Exchange Rate Monitoring base on http://www.pbebank.com/en/en_content/personal/rates/index.html
  • 18/04/2012 3.45pm 1 AUD - RM 3.231 / 3.144
  • 20/04/2012 12.15pm 1 AUD - RM 3.214 / 3.127
  • 23/04/2012 3.45pm 1 AUD - RM 3.215 / 3.128
  • 24/04/2012 3.45pm 1 AUD - RM 3.199 / 3.113
  • 25/04/2012 3.45pm 1 AUD - RM 3.205 / 3.119
  • 26/04/2012 3.45pm 1 AUD - RM 3.214 / 3.128 
  • 02/05/2012 3.45pm 1 AUD - RM 3.176 / 3.090 
  • 17/05/2012 3.45pm 1 AUD - RM 3.139 / 3.052 
  • 23/05/2012 3.45pm 1 AUD - RM 3.113 / 3.031
As just about 3 hours time you can gain about RM 0.01 already but you don't be mis-leading by it as when you withdraw that time, bank is taking the buying rate and not the selling rate if I am not mistaken on it, if not where the banking side making profit, right...

FD Rate Monitoring base on http://www.pbebank.com/en/en_content/personal/rates/fcfdrates.html
  • 18/04/2012 3.45pm AUD - 4.3%
  • 23/04/2012 3.45pm AUD - 4.25%
  • 17/05/2012 3.45pm AUD - 3.8%
It seem other currency not worth to invest as it below 3.0% as current normal FD rate. But if you are risk taker wish to adventure on the currency gain/loss also no problems as we know there is no risk no gain....

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