Mission 1300

This is another challenge that I’ve created to keep my brain working.  I have SAR1k that I want to keep in my multi-currency account.  Sadly, it only accepts deposit in RM.  So I had to sell the SAR first before I can keep it in the account.  I sold the SAR1k and was paid RM1220 based on the exchange rate at the time.  Now, I want to buy back the SAR1k and of course I won’t be able to get it with RM1220 due to the spread.  At the current rate, I will need around RM1300 to buy SAR1k, hence the mission.  That is about RM80 or 6.5% more.  Can I possibly get it without using my own money?

Fortunately, there is a number of options nowadays for investments that offer high liquidity i.e. that allows you to withdraw anytime, as early as T+1.  I tried and compared three options.  The newly launched Maybank goal-based investment (GBI) and Halogen crypto currency-based fund (subscribe here), and a regular savings account that offers 3.88% p.a. profit.  GBI is like a portfolio comprising a maximum of five funds that you can choose and determine their respective percentages.  Most importantly, all of them, at the time of writing, are free of any subscription/sales charges.

 

Option	Buy date	Buy price (RM)	Sell date	Sell price (RM)	Return (RM)
GBI	13/05/2024	1220	31/05/2024	1249.33	29.33 👎
Halogen	15/05/2024	1220 (NAV 1.2048)	31/05/2024	1557.61 (NAV 1.5382)	337.61 👍
Savings	15/05/2024	1220	31/05/2024	1221.94	1.94 👎

Halogen is therefore clearly the winner in this case at this time around and managed to meet my target.  I finally bought the SAR1k happily ever after at RM1292.20.