I have sold off all foreign currency denominated investments. With the latest redemption of Nikko AM China Onshore Bond Fund CNH, I do not own any foreign currency denominated investments.
My experience with foreign currency was not good. I used to track Australian dollar (AUD$) and Chinese Yuan (CNY) against Singapore dollar since I had investments in both currencies. Singapore dollar was strengthening against AUD$ and CNY and consequently my investments lost values as a result due to currency rates.
Depending on foreign currency to grow my wealth is not something I can live with at this stage of my life. I cannot afford to take risk since I have no regular income. It is now wealth preservation and decent returns on investments would be the way to go for me.
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