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AUD is now on par with BND

Ok....my wish came true just now at 12:30 pm (approximate time)

Lemme start at 10:45am.

I obtained permission from my Head to go to the bank.

So off I went to TAIB in Kiulap. I gave them a call yesterday and was told that they will be closing at 11:15 am for the Friday prayers. So I left my office around 10:45 and arrived there around 10:55am and guess what?

THEY ARE ALREADY CLOSED!!!!!!! TAMADE!!!!! %*^&$(^ (I was really swearing at the bank). Cursing at whoever gave me the wrong info.

Anyway, the reason why I was in a hurry to close of that account is to get money to put into AUD fixed deposit. I received an sms from SCB personnel (thank you very much) informing me that the exchange rate was 1.0111 and the interest rate was 5.625%. I was so happy.

Guess what?

When I arrived at SCB, I was informed that AUD is now on par with BND. One to one le. Wah....and best of all the interest rate is still 5.625% (Coz normally if AUD decreases, the interest rate will also decrease)

Minimum to get the interest rate is 5k.

A lot of people were asking me about the risk of the AUD currency exchange rate. For me, its a long term investment. If really in 1 or 2 years AUD does not rise, then I'll just leave it there as a type of saving lo and also not forgetting I am still taking CPA so I can make use of this sum of money to pay for my CPA. Can also be used to go for a Holiday le.......So many uses! Not forgetting, since AUD is now on par with BND, where else in Brunei can you find a bank that gives you 5.625% p.a.?

So what are you waiting for? Go put change your money into AUD now!!!!!

I am one happy gal at this moment.
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Comments

Anonymous said…
what is AUD...and what is par with BND

how much money need to invest?

i'm interested but i donno how?
4:49 PM
Artowawa said…
AUD is Australian Dollars

On par with BND means that the exchange rate is 1 to 1 with Brunei Dollars. In other words, B$ 1.00 = AUD 1.00.

Back in 2004, while I was studying in Perth, I ever saw the rate rise to 1.44. (B$1.44 = AUD 1.00)

The minimum amount of money is dependent on which bank u go to. Baiduri is minimum 10,000 (in whatever currency that you wanna invest in)

Standard Chartered is only 5000 (also in whatever currency you wanna invest in)

The interest rate and the exchange rate is quite volatile (can change anytime) these few days.

Please bear in mind that the bank doesn't accept any placement on fixed deposit on Saturdays as the market is not open on Saturdays worldwide.

Hope this helps. If you have any questions, just drop me an e-mail.

Cheers!
12:54 PM
ChiL said…
im interested..so when AUD is cheaper than BND, u shud buy more AUD??correct?
3:45 PM
Artowawa said…
Hi ch1l,

yeap, when AUD is cheaper, buy AUD coz previously AUD 1.00 = BND 1.40, so which means that you need BND 1.40 to buy 1 dollar of AUD.

So if you buy the AUD, you can earn on the exchange rate but you can also opt to put it into FD with SCB, which is definitely higher than BND Fixed deposit.

Good luck!
5:05 PM
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