Page 1 of 2 12 LastLast
Results 1 to 20 of 30

Thread: Anyone else stuck with US dollar too?

  1. #1

    Default Anyone else stuck with US dollar too?

    Am currently in a dilemna...my salary is in USD and same goes for my savings...and USD has dropped from 1.5185 to 1.4925 in less than 2 weeks!!!

    With this sub-prime mortgage problem and expected Fed rate cuts...the US dollar is projected to drop even further and is on long term depreciation...

    Anyone else caught in such a situation and are u already selling off your USD to cut losses?
    Or is USD gonna drop a little bit more and start to get a run going sometime next year leading up to the presidential elections?

  2. #2
    Moderator ortega's Avatar
    Join Date
    Nov 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    23,686
    Blog Entries
    7

    Default Re: Anyone else stuck with US dollar too?

    just keep it if you can and wait for it to go up again
    it is all about time and your ability to hold

  3. #3

    Default Re: Anyone else stuck with US dollar too?

    It is very difficult if USD wanna go back to it's former glory.

  4. #4

    Default Re: Anyone else stuck with US dollar too?

    i'm in the same boat.. what i did is place it in medium risk investment to cover the loss until usd recovers. i holding on to it... if it doesn't recover i'll migrate to US of A and spend it there

  5. #5
    Moderator ortega's Avatar
    Join Date
    Nov 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    23,686
    Blog Entries
    7

    Default Re: Anyone else stuck with US dollar too?

    Quote Originally Posted by ZDragon View Post
    It is very difficult if USD wanna go back to it's former glory.
    you can spend your USD in USD friendly places

    like vietnam,
    btw is the RM is pegged to the USD?

  6. #6
    Senior Member
    Join Date
    Feb 2003
    Location
    Outside the Dry Box.
    Posts
    16,268

    Default Re: Anyone else stuck with US dollar too?

    RM still pegged to USD...

    those using RM lagi dui... but then again, they still love sgd...
    Logging Off. "You have 2,631 messages stored, of a total 400 allowed." don't PM me.

  7. #7
    Senior Member
    Join Date
    Feb 2003
    Location
    Outside the Dry Box.
    Posts
    16,268

    Default Re: Anyone else stuck with US dollar too?

    oh ya... time to buy buy buy from BH & adorama!!! lol
    Logging Off. "You have 2,631 messages stored, of a total 400 allowed." don't PM me.

  8. #8

    Default Re: Anyone else stuck with US dollar too?

    Quote Originally Posted by Del_CtrlnoAlt View Post
    RM still pegged to USD...
    FYI Bro, the RM peg was removed in July 2005.

    Cheers,
    Andrew

  9. #9

    Default Re: Anyone else stuck with US dollar too?

    Quote Originally Posted by ortega View Post
    just keep it if you can and wait for it to go up again
    it is all about time and your ability to hold
    I can hold for another 3 years without problems as I have no real need for the money...its just that I m worried its gonna spiral down to below 1.4 and stay there

    If it ever comes back up to 1.5 + within the next 3 years thats all right for me...what do u guys think of the movement of USD in the next 3 to 5 years?

    Are there other alternatives? Like using these USD to invest in the US stock market or actually waiting to go into the property market there once it has burst big time?

  10. #10

    Default Re: Anyone else stuck with US dollar too?

    buy stock in asian currencies, like SGD, RMB, etc... and buy fixed deposits in EURO

  11. #11
    Senior Member
    Join Date
    Sep 2004
    Location
    Cons digger.
    Posts
    3,924

    Default Re: Anyone else stuck with US dollar too?

    buy more toys with USD now since it's down.
    “How fortunate for leaders that men do not think.” - Adolf Hitler

  12. #12

    Default Re: Anyone else stuck with US dollar too?

    Quote Originally Posted by Del_CtrlnoAlt View Post
    RM still pegged to USD...

    those using RM lagi dui... but then again, they still love sgd...
    not pegged already

    got big news splash on newspaper when it was removed sometime back

  13. #13
    Senior Member Canew's Avatar
    Join Date
    Jul 2005
    Location
    Tampines
    Posts
    2,229

    Default Re: Anyone else stuck with US dollar too?

    Quote Originally Posted by ortega View Post
    btw is the RM is pegged to the USD?
    Quote Originally Posted by Del_CtrlnoAlt View Post
    RM still pegged to USD...

    those using RM lagi dui... but then again, they still love sgd...

    From Wikipedia: http://en.wikipedia.org/wiki/Malaysian_ringgit

    "On July 21, 2005, Bank Negara announced the end of the peg to the U.S. dollar immediately after China's announcement of the end of the renminbi peg to the U.S. dollar."

  14. #14

    Default Re: Anyone else stuck with US dollar too?

    Is USD FD rate in US high? it is ... maybe can put there...
    i do not think USD will drop more than 1.44.
    Historical low was ard 1.45 or so bah... then economic crisis it went up.

    Suggest you wait for global downturn and see how.

    OR...

    go into import export business lor... help pple get things in US... sell them here in SGD... conversion rate put 1.65 and add in your service charge hee hee
    40D 50mmF1.8 17-85mm 24-70L

  15. #15
    Moderator ortega's Avatar
    Join Date
    Nov 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    23,686
    Blog Entries
    7

    Default Re: Anyone else stuck with US dollar too?

    handbags and fashion stuff are cheap in the US
    buy in USD and sell in SGD

  16. #16
    Senior Member
    Join Date
    Aug 2004
    Location
    Punggol 21
    Posts
    967

    Default Re: Anyone else stuck with US dollar too?

    Buy RMB la....it will appreciate against the USD.

  17. #17
    Senior Member
    Join Date
    Mar 2002
    Location
    Astin Studio
    Posts
    4,736

    Default Re: Anyone else stuck with US dollar too?

    U can buy gold coins. If US$ drop the gold price will rise. When u come home then bring the gold coins back and change to S$.

  18. #18
    Senior Member
    Join Date
    Mar 2007
    Location
    Atlanta, GA
    Posts
    2,256

    Default Re: Anyone else stuck with US dollar too?

    go US buy coach handbags.. levi jeans.. calvin klein.. etc.. good prices~ ~ come back sg sell also make $$~~

    over there levis jeans one pair usd $21.95... CK pants two pairs for $55.. polo ralph polo T, 2 for usd $55.. coach handbags are a lot cheaper than sg too
    chezburgr i can haz?

  19. #19
    Member
    Join Date
    Jan 2005
    Location
    Singapore
    Posts
    554

    Default Re: Anyone else stuck with US dollar too?

    Got...those monies in my Paypal account is in USD! :P

  20. #20
    Senior Member
    Join Date
    Feb 2003
    Location
    The heart of the Abyss
    Posts
    2,307

    Default Re: Anyone else stuck with US dollar too?

    For those hoping that USD will climb back up, forget it! Not for the next 3-5 years. The fundamentals are against it. What fundamentals? Low economic growth is one. They are lucky to avoid recession in the next 18-24 months. Huge budget deficit, huge consumer debt. These are very long term structural issues that may not be solved even in 5-10 years time.

    What to do? Buy commodities which are in USD. Gold, precious metals, etc. These will continue to climb since demand is outstripping supply globally for the foreseeable future.

    As for your salary, talk to your HR to negotiate a hedge against the continue to fall. I expect that by 6-9 months time, USD/SGD will be around 1.4.

Page 1 of 2 12 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •