Yes, reliable. I have used them many times for large amts. No transaction charges for > RM50k.
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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
Yes, reliable. I have used them many times for large amts. No transaction charges for > RM50k.
Any views on this? And what is ringgit going to be like next year? 2.4? 2.5? 2.6? 2.8?
Nomura: Malaysia may miss 2014 growth target
KUALA LUMPUR (Dec 13, 2013): Malaysia is expected to miss its economic growth target of 5%-5.5% next year, going by estimates given by Nomura Global Economics, which is forecasting a gross domestic product (GDP) growth of 4.5% in 2014 and 4% in 2015.
Nomura expects the country to expand by 4.3% this year, lower than the official growth estimate of between 4.5% and 5%.
Nomura Southeast Asia economist Euben Paracuelles said the headwinds which will hurt the country's GDP growth include China's slowdown that will affect commodity exports of Malaysia, as well as the effects of fiscal consolidation from the government that will put a drag on growth and impact domestic consumption and investments.
"It (4.5% GDP growth for 2014) is not a poor number though, considering the amount of fiscal consolidation the government is going to do. It is actually a decent number. There's a need to focus on reforms momentum and fiscal consolidation to improve the current account surplus," he told a media briefing here yesterday.
Paracuelles said it is optimistic on the government carrying out its reforms, contrary to skeptics on the government's ability to push reforms.
He opines that political risks have subsided and a rejuvenation of fiscal reforms will result in a positive sovereign rating action.
Fitch Ratings, which has an "A-" and "A" rating on Malaysia's foreign and local currency respectively, has the country on negative watch, while Standard & Poor's, despite having a stable outlook on the country's long term sovereign recently downgraded the ratings of the country's four major banking groups, citing rising economic imbalances such as rising household debt as a key threat.
"We're optimistic that the Malaysian government will execute its plans. We've seen them raising electricity prices, cutting fuel and sugar subsidies, which is the right direction. It gives a clear indication that the country is serious in getting its fiscal act together.
"Hence, we're most positive on Malaysia and the Philippines and cautious on Indonesia and Thailand and we're neutral on Singapore," said Paracuelles, who is based in Singapore.
Nomura expects Bank Negara Malaysia to hike rates by a cumulative 50 basis points in the second half of 2014.
It also estimates the ringgit to strengthen against the greenback to 3.15 in 2013, but to depreciate to 3.21 in 2014 and 3.28 in 2015.
Nomura chief equity strategist for Asia and global head of equity strategy Michael Kurtz said it is neutral on Malaysia from an equity perspective due to its expensive valuation and vulnerability to a stronger US dollar and high treasury yield environment.
"Malaysia is still trading at a 10% to 12% premium to its long term average. This is still an equity market that is still being priced at premium levels, while Singapore, in comparison, is trading at a modest discount to long term averages on a price-earnings basis," said Kurtz, who is based in Hong Kong.
He added that Malaysia, as well as Indonesia, India and Thailand, appear most vulnerable to the quantitative easing tapering scenario, while Taiwan and South Korea appear least vulnerable to a strong US dollar and rapid capital outflow scenario.
Nomura has also identified CIMB Group Holdings Bhd as the only stock in Malaysia among a basket of 21 Asia Pacific ex-Japan stocks, that offers a compelling growth angle.
Nomura: Malaysia may miss 2014 growth target
KUALA LUMPUR (Dec 13, 2013): Malaysia is expected to miss its economic growth target of 5%-5.5% next year, going by estimates given by Nomura Global Economics, which is forecasting a gross domestic product (GDP) growth of 4.5% in 2014 and 4% in 2015.
Nomura expects the country to expand by 4.3% this year, lower than the official growth estimate of between 4.5% and 5%.
Nomura Southeast Asia economist Euben Paracuelles said the headwinds which will hurt the country's GDP growth include China's slowdown that will affect commodity exports of Malaysia, as well as the effects of fiscal consolidation from the government that will put a drag on growth and impact domestic consumption and investments.
"It (4.5% GDP growth for 2014) is not a poor number though, considering the amount of fiscal consolidation the government is going to do. It is actually a decent number. There's a need to focus on reforms momentum and fiscal consolidation to improve the current account surplus," he told a media briefing here yesterday.
Paracuelles said it is optimistic on the government carrying out its reforms, contrary to skeptics on the government's ability to push reforms.
He opines that political risks have subsided and a rejuvenation of fiscal reforms will result in a positive sovereign rating action.
Fitch Ratings, which has an "A-" and "A" rating on Malaysia's foreign and local currency respectively, has the country on negative watch, while Standard & Poor's, despite having a stable outlook on the country's long term sovereign recently downgraded the ratings of the country's four major banking groups, citing rising economic imbalances such as rising household debt as a key threat.
"We're optimistic that the Malaysian government will execute its plans. We've seen them raising electricity prices, cutting fuel and sugar subsidies, which is the right direction. It gives a clear indication that the country is serious in getting its fiscal act together.
"Hence, we're most positive on Malaysia and the Philippines and cautious on Indonesia and Thailand and we're neutral on Singapore," said Paracuelles, who is based in Singapore.
Nomura expects Bank Negara Malaysia to hike rates by a cumulative 50 basis points in the second half of 2014.
It also estimates the ringgit to strengthen against the greenback to 3.15 in 2013, but to depreciate to 3.21 in 2014 and 3.28 in 2015.
Nomura chief equity strategist for Asia and global head of equity strategy Michael Kurtz said it is neutral on Malaysia from an equity perspective due to its expensive valuation and vulnerability to a stronger US dollar and high treasury yield environment.
"Malaysia is still trading at a 10% to 12% premium to its long term average. This is still an equity market that is still being priced at premium levels, while Singapore, in comparison, is trading at a modest discount to long term averages on a price-earnings basis," said Kurtz, who is based in Hong Kong.
He added that Malaysia, as well as Indonesia, India and Thailand, appear most vulnerable to the quantitative easing tapering scenario, while Taiwan and South Korea appear least vulnerable to a strong US dollar and rapid capital outflow scenario.
Nomura has also identified CIMB Group Holdings Bhd as the only stock in Malaysia among a basket of 21 Asia Pacific ex-Japan stocks, that offers a compelling growth angle.
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anyone know today's acrade rate ? got 257 ?
Raffles 2.574.
Time to remit soon....let's see if 2.6 holds.
Time to remit soon....let's see if 2.6 holds.
today 2574 at acrade .
SGD is strengthening againsts US$ again.
I'd like to take a step back and ask the question if it is worth it to chase after the S$-RM exchange rate. Cos I notice some will change their money whenever the rate starts to get somewhat higher than the previous rate. For those who do that, are you foreseeing that the RM will get stronger in time to come? From what I see, the trend seems like RM is steadily getting weaker against the S$ over the last many years.
For example, when it was S$1 = RM2.50 just a few months back, some were saying Wahhh, good rate! Must change! Cos it was only 2.40+ or so last time. If you had done the conversion then at 2.5 with a significant amount of your S$, at S$1=RM2.57 now, you would have lost 2.8%, which is quite a lot. So if you changed S$10k then, you already lost S$280 today.
Isn't it better to change only when you need to use RM, rather than get over enthusiastic whenever the rate goes up?
To me, I feel therein lies the problem with investing in Malaysian properties due to the weak RM. For eg, for those who bought properties when the exchange rate was at 2.3 some time back, just on currency factor alone, you would have lost more than 10% at today's exchange rate. Of course, the appreciation of the property value could be higher than that and overall, you might still gain, but the risks of currency exchange have to be duly noted.
Does the above make sense? I'm no expert in financial matters. Just my thoughts and reasoning. Feel free to discuss.
For example, when it was S$1 = RM2.50 just a few months back, some were saying Wahhh, good rate! Must change! Cos it was only 2.40+ or so last time. If you had done the conversion then at 2.5 with a significant amount of your S$, at S$1=RM2.57 now, you would have lost 2.8%, which is quite a lot. So if you changed S$10k then, you already lost S$280 today.
Isn't it better to change only when you need to use RM, rather than get over enthusiastic whenever the rate goes up?
To me, I feel therein lies the problem with investing in Malaysian properties due to the weak RM. For eg, for those who bought properties when the exchange rate was at 2.3 some time back, just on currency factor alone, you would have lost more than 10% at today's exchange rate. Of course, the appreciation of the property value could be higher than that and overall, you might still gain, but the risks of currency exchange have to be duly noted.
Does the above make sense? I'm no expert in financial matters. Just my thoughts and reasoning. Feel free to discuss.
Emm...it all depends on what you need to use the Ringgit for.
I think there is a greater chance for MYR to depreciate against SGD next year but will gradually convert to MYR whenever MYR hits 2.56 - 2.59 now. Purpose is to offset ppty loan (flexi-loan) cum MYR savings (with rates at 3% VS 0.8% in SGD).
Again, no one knows for sure if MYR will continue to slide towards $3??? That's why apply cost averaging on this...
I think there is a greater chance for MYR to depreciate against SGD next year but will gradually convert to MYR whenever MYR hits 2.56 - 2.59 now. Purpose is to offset ppty loan (flexi-loan) cum MYR savings (with rates at 3% VS 0.8% in SGD).
Again, no one knows for sure if MYR will continue to slide towards $3??? That's why apply cost averaging on this...
Thanks for sharing. Is the MYR savings worth it? I did the math. Within 6 months, SGD already increased about 4.9%. So even though they may give 3%, it's an overall loss.
I did convert some cash a few months ago. Thot 2.55 was great then. But now I see it went to above 2.57, I think no point chasing after it. I made a loss actually. But if need to use the Riggit immediately, them maube makes sense to change money.
I believe RM will continue to drop further. Just my 2 cents.
But would ringgit continue to drop at 4.9% every 6 months? I think it is quite unlikely though..... So the 'best combination' may not be so obvious, given that MY interest rate is at 4.2-4.3%.
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