🍫 As anticipated, CF is now cutting interest rates. I am using their USD account but after the Trump Tariff War announcement, the USD weakened daily.
I'm currently at a S$500 loss due to exchange rates. Despite CF's 4.6% daily interest, it'll take six months to break even now with the new rate. With rates expected to drop further, I've decided to cut my losses and convert back to SGD.
I'm currently at a S$500 loss due to exchange rates. Despite CF's 4.6% daily interest, it'll take six months to break even now with the new rate. With rates expected to drop further, I've decided to cut my losses and convert back to SGD.
Tip: Do this on a weekday (before Friday 1pm) to avoid the 0.50% weekend fee, compared to the usual 0.25%.
I didn't plan to use this money soon, hoping to wait for better rates.
However, unsure of how long that’ll take and my goal this year is to hit the FRS, I’m considering depositing into my SA by month-end.
CPF interest is based on the lowest monthly balance so there is no point to update now.
To be continued...
However, unsure of how long that’ll take and my goal this year is to hit the FRS, I’m considering depositing into my SA by month-end.
CPF interest is based on the lowest monthly balance so there is no point to update now.
To be continued...