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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
Cash or TT?
my bad; it was TT rate. I didn't check the cash rate.
I don't mean it will continue to drop. Actually it doesn't have to drop any more. The loss is there already. But what I mean is, if one were to take advantage of the higher interest rate in Malaysia banks to grow money, he or she will, on the other hand, be beaten by the currency exchange.
Suppose you save $x in June at say S$1=RM2.42. Now it's about S$1=RM2.565, at a conservative exchange rate. That's already almost a 6% change. If you save the money in the bank at 3% interest p.a., it's a loss. For you to even break even at the end of the tenure, the exchange rate got to drop to 2.49 in the next 6 months. And for you to make some money, it got to drop even lower than that. What's the likelihood of that happening?
I'm just reasoning. I may not see what some of you may be seeing. Please do share your views here.
I don't mean it will continue to drop. Actually it doesn't have to drop any more. The loss is there already. But what I mean is, if one were to take advantage of the higher interest rate in Malaysia banks to grow money, he or she will, on the other hand, be beaten by the currency exchange.
Suppose you save $x in June at say S$1=RM2.42. Now it's about S$1=RM2.565, at a conservative exchange rate. That's already almost a 6% change. If you save the money in the bank at 3% interest p.a., it's a loss. For you to even break even at the end of the tenure, the exchange rate got to drop to 2.49 in the next 6 months. And for you to make some money, it got to drop even lower than that. What's the likelihood of that happening?
I'm just reasoning. I may not see what some of you may be seeing. Please do share your views here.
Let's say MY to SG interest rate differential is around 4% p.a. (meaning the difference betw MY interest loan of 4.2-4.3% and SG savings account interest rate).
So in effect, when one chooses not to put excess SG cash to reduce MY loan interest, you are also taking a bet that the currency weakening will continue at >4% p.a. Of course the exact figure may vary, depending on loan condition and quantum, but generally, I think the above rule holds.
If you bought a property at MYR1m at 2.45, you are already in the "profit" by MYR46k.
Either you take "profit" now or wait for MYR to depreciate further later. No right or wrong. (unless you can predict where the exchange rate eventually ends up at!)
Either you take "profit" now or wait for MYR to depreciate further later. No right or wrong. (unless you can predict where the exchange rate eventually ends up at!)
I don't mean it will continue to drop. Actually it doesn't have to drop any more. The loss is there already. But what I mean is, if one were to take advantage of the higher interest rate in Malaysia banks to grow money, he or she will, on the other hand, be beaten by the currency exchange.
Suppose you save $x in June at say S$1=RM2.42. Now it's about S$1=RM2.565, at a conservative exchange rate. That's already almost a 6% change. If you save the money in the bank at 3% interest p.a., it's a loss. For you to even break even at the end of the tenure, the exchange rate got to drop to 2.49 in the next 6 months. And for you to make some money, it got to drop even lower than that. What's the likelihood of that happening?
I'm just reasoning. I may not see what some of you may be seeing. Please do share your views here.
Last edited:
2.6 broke!
Remitted at 2.58 today. MYR should strengthened towards CNY.
Wolverine, where was this rate? I managed to get the same rate at Superlink BI
Probably. But the bull would not last long. Just my observation from past performance.
Didn't know that Arcade Plaza Traders got tt. Is 2.58 only for amoiunts above Rm10k ?
Thanks Wolverine. I've remitted funds with ATP once; had to complete a form and show some proof why I needed to remit so much money to Msia. They have the best rate so far, but it's too inconvenient and time-consuming for me to to there.
Good thing there's always Raffles at JP or Superlink.
Good thing there's always Raffles at JP or Superlink.
Hi, may I know what is the address for BI superlink money changer or where is it located to? Thanks
Happy New Year
The address is 62 Jalan Indah 1, Taman Bukit Indah, 81200 JB. If you drive from BI towards Nusa Bestari (Tesco on your left, Giant on your right), you can see Superlink on your left after driving under the overhead highway.
It's located at the row of shops opposite Keck Seng and Emart.
Yesterday's rate was 2.58, even for amounts less than S$1000.
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