An old man had gave me an advise. Now we should place some FD at Public Bank external account to earn high interest. Maybe the New Zealand forex should be better.
I have shot on that. Because local currency in the market, we also earn less experience. Like money market comprising bond, Repo, overnight placement, forwarding. and etc....
As i aware, before I place the FD at New zealand currency, I need to convert it to their note . It has cost me about 5% loss. If the annual interest about 8.35%, at the end of the year if the currency rate unchange I only earn about 3.5%. Slightly better than local bank. But if New Zealand currency rate drop, I will further bear the cost on it. So, how to make money on that????
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