Dual Currency Investment

A short-term investment that earns an enhanced yield while capitalising on foreign exchange movements.


  • Potentially higher interest on the initial investment amount.
  • Option to purchase the alternate currency at a lower exchange rate (compared to the exchange rate on trade date).

How do Dual Currency Investments work?

The illustrations below are based on an investment amount of S$100,000 and a duration of 29 days.

On 4 April 2017, USD/SGD trades at $1.3900. An investor, Mr Lim, believes the currency pair will trade in a narrow range and will not fall below the range of $1.3750 in a month's time. Mr Lim decides to invest to enjoy higher returns. He does not mind holding USD as he travels to United States of America frequently for business.


Step 1

Step 2

Based on the above example, here are two possible scenarios.

Click the image to enlarge

S$100,000 Dual Currency Investment
Scenario 1

On fixing date, if the spot rate (e.g. 1.3950) is higher than the Target Conversion Rate (1.3750), Mr Lim will receive:

Principal + Returns in SGD
S$100,000 + (S$100,000 x 5% p.a. x 29/365) = S$100,397.26

Return on investment
S$100,397.26 – S$100,000 = Profit of S$397.26
  Scenario 2

On fixing date, if the spot rate (e.g. 1.3650) is lower than the Target Conversion Rate (1.3750), Mr Lim will receive:

Principal + Returns in USD based on the Target Conversion Rate of 1.3750
S$100,397.26 / 1.3750 = USD$73,016.19

Return on investment
(converted using current spot rate of 1.3650)
(USD$73,016.19 x 1.3650) – S$100,000  = Loss of S$332.90


The examples are for illustration purposes only and not indicative of actual or future returns.

Key Product Risks

  • Foreign exchange risk
  • The credit risk of Maybank Singapore Limited
  • A Dual Currency Investment is not an insured deposit for the purposes of the Deposit Insurance and Policy Owners' Protection Schemes Act 2011 (Act 15 of 2011)



By purchasing the Dual Currency Investment, you are giving the issuer of this product the right to repay you at a future date in an alternate currency that is different from the currency in which your initial investment was made, regardless of whether you wish to be repaid in this currency at that time. Dual Currency Investment is subject to foreign exchange fluctuations, which may affect the returns of your investment. Exchange controls may also be applicable to the currencies your investment is linked to. You may incur a loss on your principal sum in comparison with the base amount initially invested. You may wish to seek advice from a licensed or an exempt financial adviser before making a commitment to purchase this product. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether this product is suitable for you. This does not purport to identify all the risks which may be associated with a Dual Currency Investment. This is prepared by Maybank for information purposes and should not be construed as an offer to sell,recommend or solicit the purchase of any investment product, enter into any transaction or adopt any investment strategy. Maybank makes no representation and/or warranty as to the accuracy or completeness of this information and is not liable for any errors or omissions herein, nor shall it be liable for any losses arising out of any person's reliance upon this information. This statement is not intended to provide personal investment advice and no consideration has been given to the particular investment objectives, financial situation or particular needs of any recipient. Investors should therefore rely on their own judgment and/or seek financial, legal and other advice in making their investment decisions. Any information contained herein is subject to change at any time, without prior notice.

This advertisement has not been reviewed by the Monetary Authority of Singapore.