Foreign currency time deposit

This is yet another way of making your money grow, though not as risky as the stock market. As it is not as risky, you will only make as much money, but it is better than putting your money in a bank saving account with the low interest rate. I have been monitoring the British pound since beginning of March 2009. It has fallen from the high RM7.3 to unit Sterling before the financial meltdown in late 2007 to around RM5 in February 2009. Then I noticed that it has been rising rather fast from RM5.2 in mid April to RM5.6 last week. Despite the occasional negative financial reports coming out of UK, I have faith in this currency. I admire the British ability to ride the financial storm. Their innovation is legendary so is their competitiveness.

So I put my money on this rising currency on a time deposit basis, instructing my banker to alert me once the rate reaches a certain percentage. The interest is negligible, the focus is on the change in rate.... so quietly, you can make some money without having to ask yourself like that poor Prince Hamlet..... to be or not to be...