Foreign Currency Fixed Deposits Singapore 2026
Diversify your portfolio with foreign currency fixed deposits in USD, EUR, GBP, and other major currencies. Earn competitive rates while gaining exposure to global currencies.
Currency Diversification: Foreign currency FDs offer portfolio diversification and potential currency appreciation gains alongside fixed interest returns.
Current Foreign Currency FD Rates
USDUS Dollar Fixed Deposits
| Bank | 3-Month | 6-Month | 12-Month | Minimum |
|---|---|---|---|---|
| DBS | 4.85% p.a. | 4.90% p.a. | 4.75% p.a. | USD 1,000 |
| UOB | 4.80% p.a. | 4.85% p.a. | 4.70% p.a. | USD 1,000 |
| OCBC | 4.75% p.a. | 4.80% p.a. | 4.65% p.a. | USD 1,000 |
| Standard Chartered | 4.70% p.a. | 4.75% p.a. | 4.60% p.a. | USD 5,000 |
EUREuro Fixed Deposits
| Bank | 3-Month | 6-Month | 12-Month | Minimum |
|---|---|---|---|---|
| DBS | 3.65% p.a. | 3.70% p.a. | 3.60% p.a. | EUR 1,000 |
| UOB | 3.60% p.a. | 3.65% p.a. | 3.55% p.a. | EUR 1,000 |
| OCBC | 3.55% p.a. | 3.60% p.a. | 3.50% p.a. | EUR 1,000 |
Other Major Currencies (12-Month Rates)
| Currency | Best Rate | Bank |
|---|---|---|
| GBP (British Pound) | 4.25% p.a. | DBS |
| AUD (Australian Dollar) | 4.15% p.a. | UOB |
| CAD (Canadian Dollar) | 4.00% p.a. | OCBC |
| HKD (Hong Kong Dollar) | 3.80% p.a. | DBS |
| Currency | Best Rate | Bank |
|---|---|---|
| JPY (Japanese Yen) | 0.15% p.a. | UOB |
| CHF (Swiss Franc) | 1.25% p.a. | UOB |
| NZD (New Zealand Dollar) | 4.50% p.a. | DBS |
| CNY (Chinese Yuan) | 2.85% p.a. | OCBC |
🌍 Top Foreign Currency Opportunities
US Dollar (USD) Fixed Deposits
Up to 4.90% p.a. for 6-month deposits
4.90%
USD 6-Month Rate
USD 1,000
Minimum Deposit
Strong
Currency Outlook
Currency Risk & Opportunity Analysis
✓ Potential Benefits
- •Higher Interest Rates: USD and other major currencies often offer rates higher than SGD
- •Currency Appreciation: Potential gains if foreign currency strengthens against SGD
- •Portfolio Diversification: Reduce concentration risk in SGD-denominated assets
- •Inflation Hedge: Protect against SGD inflation through currency diversification
- •Future Expenses: Natural hedge for overseas education, travel, or investment
- •Global Exposure: Participate in international economic growth
⚠ Potential Risks
- •Currency Depreciation: Losses if foreign currency weakens against SGD
- •Exchange Rate Volatility: Daily fluctuations can affect overall returns
- •Conversion Costs: Spread charges when converting to/from SGD
- •Interest Rate Risk: Central bank policy changes can affect rates
- •Liquidity Constraints: Limited access during deposit term
- •Complexity: Requires understanding of global economic factors
2026 Currency Outlook & Recommendations
Strong Outlook
US Dollar (USD)
- • Fed policy supporting USD strength
- • High interest rates (4.75-4.90%)
- • Economic resilience
- • Safe haven appeal
British Pound (GBP)
- • Bank of England hawkish stance
- • Good rates (4.25%)
- • Post-Brexit stability
Moderate Outlook
Euro (EUR)
- • ECB maintaining rates
- • Decent rates (3.60-3.70%)
- • Economic uncertainty
- • Political considerations
Australian Dollar (AUD)
- • Commodity-driven outlook
- • Good rates (4.15%)
- • China trade dependency
Cautious Outlook
Japanese Yen (JPY)
- • Ultra-low rates (0.15%)
- • BoJ intervention risks
- • Carry trade concerns
- • Economic challenges
Chinese Yuan (CNY)
- • Capital controls
- • Economic slowdown
- • Geopolitical tensions
Currency Conversion Costs & Break-Even Analysis
Typical Conversion Spreads
| Currency | Bank Spread | Money Changer |
|---|---|---|
| USD | 0.3-0.5% | 0.1-0.3% |
| EUR | 0.4-0.6% | 0.2-0.4% |
| GBP | 0.4-0.6% | 0.2-0.4% |
| AUD | 0.5-0.7% | 0.3-0.5% |
Break-Even Analysis
USD Example (S$50,000 deposit)
Conversion cost (0.5% each way)S$500
Interest advantage (4.90% vs 2.80%)S$1,050
Net benefit (excluding FX)S$550
Break-Even FX Movement
For the USD example above, the USD can weaken by up to 1.1%against SGD over 12 months and you would still break even compared to SGD FD.
How to Apply for Foreign Currency Fixed Deposits
1️⃣
Open Multi-Currency Account
Most banks require a multi-currency account to hold foreign currency deposits.
2️⃣
Fund Currency Account
Convert SGD to target currency or transfer existing foreign currency holdings.
3️⃣
Place FD Application
Submit fixed deposit application specifying currency, amount, and tenure.
4️⃣
Monitor & Maturity
Track currency movements and decide on renewal or conversion at maturity.
Required Documents
- • Singapore NRIC or valid identification
- • Proof of income or source of funds
- • Existing bank account with the institution
- • Multi-currency account opening (if new)
- • Initial deposit amount in target currency
Important Considerations
- • Check minimum deposit requirements
- • Understand conversion spreads and timing
- • Review early withdrawal penalties
- • Consider currency outlook and volatility
- • Plan for maturity date decisions
Foreign Currency FD Investment Strategies
Conservative Approach
- • Limit to 10-20% of total portfolio
- • Focus on major currencies (USD, EUR)
- • Shorter tenures (3-6 months)
- • Use only surplus funds
- • Avoid exotic currencies
- • Regular monitoring and rebalancing
Best for: First-time foreign currency investors
Diversified Approach
- • Spread across 3-4 currencies
- • Mix of major and minor currencies
- • Staggered maturity dates
- • Regular rebalancing
- • Monitor economic indicators
- • 20-30% of fixed income allocation
Best for: Experienced investors with diversified portfolios
Opportunistic Approach
- • Chase highest yielding currencies
- • Tactical currency positioning
- • Longer tenures for rate advantages
- • Active monitoring of central banks
- • Higher risk tolerance required
- • Can comprise 30%+ of portfolio
Best for: Sophisticated investors with currency expertise
Expert Tips for Foreign Currency Fixed Deposits
Maximizing Returns
- • Compare rates across multiple banks
- • Time conversions to minimize spread costs
- • Consider money changers for better rates
- • Monitor central bank policy changes
Risk Management
- • Diversify across multiple currencies
- • Keep position sizes manageable
- • Understand break-even exchange rates
- • Have clear exit strategies
Ready to Diversify with Foreign Currency FDs?
Explore Singapore's best foreign currency fixed deposit rates and start building your global portfolio.