Exchange Rates for RM

[snowbird]

View attachment 11914

So what's next? Ringgit kena attack!

Actually its RRR - Rupee, Rupiah & Ringgit are all being hammered!
According to a BT report last week : "the Indian rupee fell to an all-time low of 64.52 against the greenback. Meanwhile, the Indonesian rupiah languished at 10,775 and the ringgit at 3.29 against the US dollar."

 

[nextreal]

Will it see $3??????

That's still 4000 pips away!

QE withdrawal means less cheap USD to buy higher-yielding Asian investments. All Asian currencies are dropping against the greenback and will continue to do so, although at different rates. I seriously doubt we will see MYRSGD at 3.0.

What I might do is to buy more USD, and sell it when MYRUSD goes to record high.

 

[wolverine23]

How do you buy usd? Through banks?

I am thinking of dual currency pair. Sgd and usd

That's still 4000 pips away!

QE withdrawal means less cheap USD to buy higher-yielding Asian investments. All Asian currencies are dropping against the greenback and will continue to do so, although at different rates. I seriously doubt we will see MYRSGD at 3.0.

What I might do is to buy more USD, and sell it when MYRUSD goes to record high.

 

[wolverine23]

Yes, Internet banking is immediate.

It's so convenient so no need to remit everything at one go.

In the past, I use to remit large amounts to save on remittance fees... Cimb does not charge fees...

U mean internet banking funds transfer is immediate. TT for large money orders (above RM 20k) must go to counter, those the bank says few working days. I check when I receive, i just done 1 transfer yesterday.

 

[nextreal]

How do you buy usd? Through banks?

I am thinking of dual currency pair. Sgd and usd

Sorry, I was not referring to buying physical USD. I was referring to trading in the forex market. :P But I OT.

 

[1nottiboy]

I was also thinking abt doing the same. I foresee USD going stronger so not likely to strike. Just keep collecting interest every 30 days.

How do you buy usd? Through banks?

I am thinking of dual currency pair. Sgd and usd

 

[wolverine23]

Which bank is the best to do this?

I was also thinking abt doing the same. I foresee USD going stronger so not likely to strike. Just keep collecting interest every 30 days.

 

[shctaw]

Sorry, I was not referring to buying physical USD. I was referring to trading in the forex market. :P But I OT.

To long USD in Forex trading, you need to do a sell on another currency.

If you ask a quote for one LAHK in USD/JPY; if you buy it, you will be shorting JPY.

Only in saving form you can long all type of currency without shorting another.

 

[teega]

Last time, ringgit used to peg against the usd at 3.60. So still not too bad. As more bad news exhausted .. Ringgit will recover a little. However, like all Malaysians, I m quite concern with the recent slide.. Most probably is a concerted attack by speculators on these 3 diff countries. They have to narrow their attack against these 3 weak countries to create a global panic... there r other countries in Asia whose debt are as high as Malaysia... But why these 3... Cos They don't have unlimited ammunition...

Actually its RRR - Rupee, Rupiah & Ringgit are all being hammered!
According to a BT report last week : "the Indian rupee fell to an all-time low of 64.52 against the greenback. Meanwhile, the Indonesian rupiah languished at 10,775 and the ringgit at 3.29 against the US dollar."

 

[shctaw]

Rupee lost 30% against USD since Jan 2013.

Ringgit lost 10% against SGD since 27 May 2013.

Best play is to Long SGD and Long USD in physical form.

If you bought a property in Malaysia; and you are Singaporeans; you just save 10%.

RM1,000,000 = SGD420,000 (27 May 2013)
RM1,000,000 = SGD384,600 (today)

Last time, ringgit used to peg against the usd at 3.60. So still not too bad. As more bad news exhausted .. Ringgit will recover a little. However, like all Malaysians, I m quite concern with the recent slide.. Most probably is a concerted attack by speculators on these 3 diff countries. They have to narrow their attack against these 3 weak countries to create a global panic... there r other countries in Asia whose debt are as high as Malaysia... But why these 3... Cos They don't have unlimited ammunition...

 

[IRONMAN123]

0920hrs

CIMB rate: 2.5696

What time the bank will update its rate again?

 

[crystal_tiong]

Rupee lost 30% against USD since Jan 2013.

Ringgit lost 10% against SGD since 27 May 2013.

Best play is to Long SGD and Long USD in physical form.

If you bought a property in Malaysia; and you are Singaporeans; you just save 10%.

RM1,000,000 = SGD420,000 (27 May 2013)
RM1,000,000 = SGD384,600 (today)

wat abt if u want to sell now ? rugi to convert back to SGD lor !

 

[shctaw]

wat abt if u want to sell now ? rugi to convert back to SGD lor !

If you sell now; all profit will be in ringgit.
I will leave all money in Malaysia and spend in Malaysia.

Macbook Air 11" RM2999 (SGD1152)
Macbook Air in Singapore is S$1348.

That is why I say time to scope up stuffs in JB.

 

[IRONMAN123]

If you sell now; all profit will be in ringgit.
I will leave all money in Malaysia and spend in Malaysia.

Macbook Air 11" RM2999 (SGD1152)
Macbook Air in Singapore is S$1348.

That is why I say time to scope up stuffs in JB.

Can buy new iPhone or iPad 5....

 

[crystal_tiong]

If you sell now; all profit will be in ringgit.
I will leave all money in Malaysia and spend in Malaysia.

Macbook Air 11" RM2999 (SGD1152)
Macbook Air in Singapore is S$1348.

That is why I say time to scope up stuffs in JB.

some stuff just cant scope from JB , they refurbished it ....
so it might take a long time to spend if on food and petrol ....

 

[shctaw]

some stuff just cant scope from JB , they refurbished it ....
so it might take a long time to spend if on food and petrol ....

Buy the new launch item. I doubt they refurbish iPhone 5s. Launching on 20 Sept.

 

[potter]

take this opp to reduce yr hse loan.
any goes down must come up.


CIMB Exchange Rate : 2.5718

 

[IRONMAN123]

take this opp to reduce yr hse loan.
any goes down must come up.

CIMB Exchange Rate : 2.5718

Yeah just saw it: 2.5718.

 

[RedsYNWA]

Yeah just saw it: 2.5718.

I just lugi RM 1.4K, becos I TT last week.......sian.....

 

[IRONMAN123]

I just lugi RM 1.4K, becos I TT last week.......sian.....

That's one mth pay for local...