US Dollars

I have just open a US$ account. I went to the nearest standard charterd bank and opened up the account with an initial US$3000. That costs me some S$3.7k.

Why?
Well, I noticed that the US$ exchange rate is quite low. Which means that it will cost me S$1.3 to get US$1.00. As compared to recent rates where US$1 will cost me some S$2.17. And since Osama has been killed, inalilah, and there seemed to be no more bad news with the US economy, my US$3000 should appreciate in value. Furthermore, correct me I am wrong, any gains that I have through currency fluctuations would be halal, instead of the measly interest I would get, which won't be as halal.

Renovations.
Su and me played with the ideas of renovating our house. So I said, let budget for it. Lets start saving and get the renovation under way once we hit 50k. So, this US$ account, or the money in it will be for our renovation. I mean we already have an Islamic accounts for our rainy weather days, so, we will not be touching on that.

So I guess, the priority now is placed on saving up for the renovation.

Process.
Each one of us has a bank account, me, Su and Adam. Previously, whenever any of our accounts were to hit S$1k, we would transfer it to our rainy weather account. Now that that is settled, I am looking at transferring whenever any of our accounts hit US$500. The objectives would be at least two fold.
1. We would be actively be reminded of the reason we are saving. As Adam, Su and I would constantly have to withdraw the funds to be transferred.
2. I could develop a dollar cost averaging system where I could average the cost and benefits whenever the US$ appreciates and depreciates.
3. The value of the money in the savings account POSB is being eroded. So might as well put it in another savings account where I could potentially get better returns.

Am I right? Is my money sense sound?

Now, the thing about standard chartered is that this is my first time dealing with the bank. So the lady with whom I opened up the account with said that she will call me once my account is approved. I've given them a cheque, so that will take at least until tomorrow. So if by tomorrow I should know whether I have my very first US$ account. If not, I will call them.

Why?
Why standard chartered? I've surfed the net and they are the only bank that I could find in Singapore, that requires only US$2000 equivalent to open up the account. Other banks require $10000. And thats to open a FD account. I wanted a savings account.

Next steps.
Need to add Su's name to the accounts namely the Islamic accounts in Maybank and the US$ account in standard chartered.
And to increase my income.

Slim