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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
I remitted at 258.0 today.
On cash basis, 2.615 is the resistance level so far.
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- Dec 2, 2012
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Ringgit has weaken a lot in the past 4 years.
From 2.26 on 22 March 2010 to a high of 2.63 on 10 Feb 2014.
It need a correction between 2.53-2.57 level before it gather strength to push over 2.65.
Expect to see 2.65-2.70 lever in 3rd and 4th quarter 2014.
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This correction is not over. It may trend lower in the next few weeks. It will test a support around 2.55 or lower.
Right after you said that MYR will continue to strengthen to 2.5500 in the next few weeks, it immediately weaken to 2.5904 today. Next time learn from those market experts, say something like, "If MYR doesn't strengthen, it wil weaken."
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my view is that the MYR is crap. Long term trend is down vs the SGD and USD. I buy only what I need now.
As for the USD vs SGD, in theory, USD should strengthen against the SGD since they are cutting the QE. BUT Singapore is such a stable and strong economy, I suspect that if the USD does strengthen against the SGD, it will be very gradual with a very small variance. Unless you have investments in USD or you are a forex trader, I see little benefit for the average person to buy USD to hold. Interest rates are similar and transaction costs will eat into the gains.
Personally, I am still keeping most of my investments in SGD, although recently I have started buying USD denominated instruments. (from 90:10 to 70:30)
anyway since we are on this USD thing, this is what my banker suggested to me. Do a dual currency first SGD:USD. Earn the higher interest rates.
Then if the SGD gets converted into USD, instead of buying into the a stock on the NYSE immediately, one option is to buy into an equity linked note. talk to your banker and see what he can offer you.
As for the USD vs SGD, in theory, USD should strengthen against the SGD since they are cutting the QE. BUT Singapore is such a stable and strong economy, I suspect that if the USD does strengthen against the SGD, it will be very gradual with a very small variance. Unless you have investments in USD or you are a forex trader, I see little benefit for the average person to buy USD to hold. Interest rates are similar and transaction costs will eat into the gains.
Personally, I am still keeping most of my investments in SGD, although recently I have started buying USD denominated instruments. (from 90:10 to 70:30)
anyway since we are on this USD thing, this is what my banker suggested to me. Do a dual currency first SGD:USD. Earn the higher interest rates.
Then if the SGD gets converted into USD, instead of buying into the a stock on the NYSE immediately, one option is to buy into an equity linked note. talk to your banker and see what he can offer you.
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Today cash rate @ Acrade 2.594
Cannot say like that , his point of view is from the chart , too early to say he is wrong as no equities move in a straight line. ( Maybe RM weaken these few days due to MH370 crash ? Events like that can change market sentimental quickly ) Important thing he mention that RM will weaken against SGD in a longer term , hence forumers wont get caught holding large amount of RM . Actually this kind of things no one can be 100% sure one , otherwise who need to work for a living ? If your view is wrong , cut loss and get out can liao . But if for own use then LL lor , using it to pay your housing loan.
Anyway it will be nice to hear the views from gurus why the RM weaken vs SGD in longer term . One agrument I got is that their external debts is balloning year after years. However as economy gets better and deficit get smaller next few year due to higher taxes , RM can strengthen back quickly. In short , long term see fundamental , short term see chart.
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Do not need to defence anyone in a forum. Just sharing my view. No comments can affect me.
Ringgit weakness may not be good for properties market.
Main reason is to share; to share is to give personal opinion so that people can have more view toward a market.
Ringgit weakness may not be good for properties market.
Main reason is to share; to share is to give personal opinion so that people can have more view toward a market.
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Hi, anyone knows what is the rate at arcade today? Thanks!
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- Jul 10, 2012
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Your house, if calculated in SGD might worth lesser.
What you said above(highlighted in bold) is exactly what I meant - No one can be 100% sure. Even Warren Buffett admits that he made mistakes in his investments. Put yourself in his shoes(the no. 1 investor in the whole world) and imagine how much courage he needs to admit his mistakes in view of the whole world? It's a billion times more difficult for him to do that as compared to people like us whom nobody knows at all except for our online moniker like 'investor' or 'Shctaw'. Yet people like us have so much ego and cannot even admit a mistake?
Readers are not stupid and knows how to read by themselves, we'll be more respected when we have the courage to admit our mistakes then to act like we don't care. Someone who really doesn't get affected by comments from others will respond to those comments positively and engage in a healthy and intelligent exchange of views. He will not show distaste and claim that he doesn't care. In a room filled with 5 highly intelligent people(I'm not suggesting that I'm one), it is normal to have 10 different views on a single topic.
Shctaw is definitely someone who studies more in depth into currencies than myself(I know nothing much about what affect currencies' value) but that doesn't mean that one can be 100% right. Like you said - No One Can Be. What I'm suggesting is to be like those experts, don't make a statement which gives you no escape route. If you read clearly, for many comments or predictions from the experts, they will be 'somewhat' right no matter what the future outcome is.
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