Exchange Rates for RM

[Mingchye]

So, it seems that the interest rate in Singapore is indeed being artificially controlled and depressed by the MAS. The PAPies are doing this so that they have every good reason to implement all those cooling measures in the property market whilst at the same time to earn more directly for themselves via those additional stamp duties and taxes. In addition, they are also saving a lot more for themselves by not having to pay more interest in the citizens' CPF, which is in accordance to the 3-month average interests of the 3 major banks in Singapore, capped to a minimum of 2.5% and sounded very generous and convincing indeed. The Singapore government is thus doing all Singaporeans a very big disfavor. The Singapore government is indeed evil and treacherous.

I disagree on the point about MAS manipulating interest rates. Now I am not on the SG govt's side, I just want to point out that interest rates in SG are determined by the banks themselves through the SIBOR. Thats why recently MAS fined a whole bunch of them for manipulating the rates. MAS uses the SGD forex to control SG's inflation and economic expansion, unlike other central banks who use interest rates. Please read up first before concluding otherwise.

 

[FHBH12]

I disagree on the point about MAS manipulating interest rates. Now I am not on the SG govt's side, I just want to point out that interest rates in SG are determined by the banks themselves through the SIBOR. Thats why recently MAS fined a whole bunch of them for manipulating the rates. MAS uses the SGD forex to control SG's inflation and economic expansion, unlike other central banks who use interest rates. Please read up first before concluding otherwise.

When it is fixed by the bank that are commercial entities, it is commercially-based. The manipulation basis is odd. The ones that should have been fined are the oil companies for fixing petrol prices in Singapore.

 

[johannes]

Just to share, if you want to know more about the 'investment' Chocolate mentioned in this thread, check out this:
http://en.wikipedia.org/wiki/Dual_currency_deposit

And sharing by Tan Kin Lian on this product:
http://tankinlian.blogspot.sg/2008/07/dual-currency-investment.html

Hope it helps.

 

[winners]

I disagree on the point about MAS manipulating interest rates. Now I am not on the SG govt's side, I just want to point out that interest rates in SG are determined by the banks themselves through the SIBOR. Thats why recently MAS fined a whole bunch of them for manipulating the rates. MAS uses the SGD forex to control SG's inflation and economic expansion, unlike other central banks who use interest rates. Please read up first before concluding otherwise.

I would be glad if you can you explain how does UOB in JB is able to offer 6% against its parent bank's 1% in Singapore?

The recent so-called "intervention" by the MAS is not very convincing. Of course in view of the similar actions on the LIBOR in London, the MAS will have to "wayang" something in order to justify their credibility. After all the biggest local bank, DBS, is still majority government owned, if you get what I mean.

 

[winners]

2.5% is not generous lah, it is less than half of inflation rate..

Zorro Lim will tell you:


".........And every month when I see my CPF, I feeellll sooooo riicccchhhh..........."


And not to forget, "his capital is fully protected and guaranteed".

 

[ginfreely]

Zorro lim no good lah, he should practise what he preached and strive to be better, betterer and betterest in paying workers increment and CPF benchmark to inflation rate like other good govt, or at least aim to match inflation rate..

Zorro Lim will tell you:


".........And every month when I see my CPF, I feeellll sooooo riicccchhhh..........."


And not to forget, "his capital is fully protected and guaranteed".

 

[Chocolate]

Just to share, if you want to know more about the 'investment' Chocolate mentioned in this thread, check out this:
http://en.wikipedia.org/wiki/Dual_currency_deposit

If you read these artcles, you will see this is a high risk instrument, higher risk than FD. Its good to be aware of that. However, if you need to convert SGD to RM its a great way as the rate you will get is higehr than if you go to the money changer, and if it deosnt 'strike' you get paid high interest while waiting. My current deal is lower interest as rates were not so favourable when I locked it in at 4% but that's betetr than what banks here pay.My current strike price is 2.503 which is higehr than what moenychangers give. If I strike its still a good deal, and i also get paid interest. If I dont strike, I get the interest also. I am not in a hurry to strike so am trying to get as high intest as possible while waiting.
Btw, no new chrages for roll over and when I strike I will just pay $9 Ringgit to transfer my funds to another bank account in MY.Its better if the banker explains.
If anyone wants to know more, best speak to a banker. I can give you my banker's mobile no. if you PM me. Btw, minimum amount is RM 250K or equivalent in SGD.

 

[Inception]

Clifford Centre Raffles TT rate 2.488

 

[DCputeri]

Cash is at 2.485. Better to change cash then 2.488 given the $10 commission.

Clifford Centre Raffles TT rate 2.488

 

[crystal_tiong]

today cash rate at 2.49 ....

 

[Organic]

today cash rate at 2.49 ....

May I know is it at Raffles Clifford?

 

[crystal_tiong]

May I know is it at Raffles Clifford?

no , i went to acrade , 2nd floor .

 

[Organic]

TT at Raffles Clifford 2.494.

 

[FHBH12]

TT at Raffles Clifford 2.494.

Rates are very good. I think I will TT next week.

 

[joegoh]

TT at Raffles Clifford 2.494.

Can i have the full address for Raffles Clifford, can they do internet transfer to their bank for TT. I just done a internet transfer at rate of 2.485 at hougang without the need to go down and for singaporean we can TT at any amount they will tt 10k each day auto to your bank at malaysia.

 

[franklkk]

today cash rate at 2.49 ....

Today at raffles changer at level 20 - TT @ 2.502. Cash 2.49. At Arcade, best 2.495. Very long queue

 

[potter]

Can i have the full address for Raffles Clifford, can they do internet transfer to their bank for TT. I just done a internet transfer at rate of 2.485 at hougang without the need to go down and for singaporean we can TT at any amount they will tt 10k each day auto to your bank at malaysia.

just becareful dun kena mly authority to freeze bank acct and makan your $.

 

[DCputeri]

I was there at 11.30am. No queue. 2.502 with no commission for amount above RM50,000. Good news from Bernanke and stronger GDP for Q2 in singapore has strengthen the SDG.

Today at raffles changer at level 20 - TT @ 2.502. Cash 2.49. At Arcade, best 2.495. Very long queue

 

[Organic]

Parkway TT 2.50

 

[joegoh]

just becareful dun kena mly authority to freeze bank acct and makan your $. View attachment 11174

Er how to Makan?? They send only 10k each day into your bank account. Is all follow Malaysia law just that they help you spilt the amount into few day. I go jurong point they ask me to come everyday to their shop and tt 10k each day. Both is the same only different is you go 1 time at hougang. Never break any law???