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Currency coins; image used for HSBC Singapore Dual Currency Plus

Dual Currency Plus

Take advantage of currency market movements.

About Dual Currency Plus

Dual Currency Plus is a short-term structured investment product that lets you invest in one currency. At maturity, the fixing-date exchange rate determines whether you receive your investment in the original or alternative currency. Access Dual Currency Plus on the HSBC Singapore app and monitor your order status.

Explore Dual Currency Plus

What is Dual Currency Plus

Learn how Dual Currency Plus works, including its key features, potential benefits and risks.

How to set up Dual Currency Plus

Follow this step-by-step guide to learn how to set up Dual Currency Plus.

How it works

  • Minimum investment of SGD50,000 (via Relationship Manager) or minimum SGD5,000 / its equivalent in another available currency (via HSBC Singapore app).
  • Select your base and linked currencies from the currencies available on the Everyday Global Account (the base is invested; the linked currency may be received at maturity).
  • Choose an investment term ranging between 1 week and 3 months.
  • Select a conversion rate (also known as the strike rate), which determines both your yield and whether you may be repaid in the linked currency.
  • Receive proceeds in either currency, depending on how the exchange rate on the fixing date compares with the rate on your conversion date.

Illustrative example

This hypothetical example is for illustration only and does not reflect actual or future rates or returns.

Suppose that you invest USD1,000,000 in Dual Currency Plus today with spot rate at 1.4000, selecting SGD as your linked currency, 1 month investment term with return of 5% per annum (equivalent to a return of USD4,166.67, or 0.4167%, over a one-month term) and strike / conversion rate of 1.4300. Your proceeds depend on the exchange rate on fixing day - in Scenario A, you will receive them in USD while in Scenario B, you will receive them in SGD.

Line graph illustrating how Dual Currency Plus works

Note: The currency you receive may differ from your original currency. Learn more about the risks of Dual Currency Plus.

Things to know

  • Your investment amount will be debited from your account in your base currency at the beginning of your investment term 
  • Your proceeds will be paid on maturity date, while the outcome will be known on fixing day
  • If the linked currency you have selected weakens against your base currency beyond the conversion rate, you‘ll be repaid in the linked currency at the conversion rate, and your maturity proceeds will be worth less than your original investment in base currency terms. If the linked currency strengthens, your money will stay in your base currency
  • Before investing, please read the product terms and conditions

Eligibility

You need to have the following:

  • Aged 21 and above
  • Have an Everyday Global Account
  • Valid Customer Knowledge Assessment (CKA) where you have assessed to have knowledge and experience in investing in Dual Currency Plus

Set up a Dual Currency Plus in just 3 steps

1. Choose your base and linked currencies

Available currencies include AUD, CAD, EUR, JPY,  NZD, GBP, CHF, USD, HKD, CNY (offshore RMB) and SGD.

2. Enter your investment amount and choose a tenor

Tenors range from 1 week to 3 months.

3. Set your desired yield or conversion rate

At maturity, you will receive the principal and interest in either the base currency or linked currency, as determined by the exchange rate on the fixing date, at the predetermined conversion rate.

How to apply

You can speak with one of our wealth experts on the phone or in branch to determine your risk tolerance and your investment objectives.

Contact me

Leave us your contact details and our Wealth Manager will be in touch with you.

In person

Come and see us in a branch to discuss Dual Currency Plus.

Over the phone

In Singapore:

Calling from abroad:

Frequently asked questions

What is Dual Currency Plus? 

Is Dual Currency Plus suitable for me? 

Why invest in Dual Currency Plus? 

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Notes

Important Notes 

Dual Currency Plus is classified as an unlisted Specified Investment Product (SIP). SIPs are derivatives or products which may contain derivatives. They are complex products and cannot generally be sold without advice. In particular, if you have limited knowledge on investment products, you are encouraged to seek advice from a financial adviser. If you choose not to seek advice from a financial adviser, you should carefully consider whether the investment is suitable. Any transaction you decide to make will be of your own choice and at your own risk. 

 

Unlisted SIPs are those that are not listed on an exchange.

 

Dual Currency Plus is an investment product and is not a deposit. It is not insured under the Deposit Insurance Scheme administered by the Singapore Deposit Insurance Corporation. With Dual Currency Plus, the principal sum and returns are repayable, either in the currency in which the investment is made ("base currency") or an alternative currency ("linked currency") at maturity, depending on the fixing rate on the fixing date compared with the conversion rate, as set out in the product terms and conditions. .Early withdrawal of Dual Currency Plus is generally not permitted. If the Bank agrees to an early withdrawal, it will be subject to the Bank's procedures and applicable charges and you may incur a substantial loss on your principal.

 

As your investment is denominated in a foreign currency, you are advised to consider the impact of any foreign exchange risk on the net returns of your investment. Foreign exchange controls may be imposed by the country/region issuing the foreign currency from time to time and may delay or prevent the payment of the proceeds to you.

 

The following terms and conditions apply to an investment in Dual Currency Plus: (i) the relevant Term Sheet; (ii) the Dual Currency Plus Terms and Conditions; and (iii) the Terms and Conditions governing HSBC Account User Agreement.

 

This webpage is for general information only. It does not constitute an offer, solicitation or recommendation to buy or sell any investment product, and does not take into account your specific investment objectives, financial situation or particular needs. Any screens, yields, account details, balances and rates shown are for illustrative purposes only and may not reflect current or future terms, conditions or rates.

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