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Exchange Rates for RM
- Thread starter crystal_tiong
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today cash rate @ Acrade 2.584
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2.57 simei
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We enter 3rd Q for the year.
The strengthening of ringgit look to be ending........
Personally I have timed and bought Ringgit in 1 March, however I do not bet ringgit to strengthen the rest of the year.
The strengthening of ringgit look to be ending........
Personally I have timed and bought Ringgit in 1 March, however I do not bet ringgit to strengthen the rest of the year.
Expect to strengthen to 2.50. Due to many reasons - improving economy, IPOs, interest rates, weakening USD,
‘‘Bank Negara may raise interest rates on strong exports’
6 July 2014 @ 10:57 PM
By RUPA DAMODARANKUALA
ANALYSTS say strong exports numbers may prompt Bank Negara Malaysia to raise borrowing costs this week.
Wellian Wiranto of OCBC Bank said most encouragingly was the electrical and electronics sector.
“The bulwark sector of electrical and electronic products continued to show resilient strength,
shipping RM21.2 billion of chips and such in May, compared to
an average of 20.4 billion of the prior three months.”
Bank Negara will hold its next monetary policy committe meeting on Thursday.
There are increasing market expectations for the overnight policy rate (OPR) — a benchmark for banks to determine interest rates — to be raised after 17 meetings where it stayed pat.
Data released on Friday showed Malaysia’s exports jumped unexpectedly in May, backed by a further bounce in electronic products.
Exports expanded by 16.3 per cent, surpassing market expectations. Imports also grew a faster 11.9 per cent while the trade surplus narrowed to RM5.7 billion.
“Year-to-date, Malaysia’s export growth is outpacing that seen in the rest of EM Asia (in US dollar terms),” said Dr Chua Hak Bin, economist with Bank of Merrill Lynch.
“Surging exports and robust production provide room for Bank Negara to hike policy rate,” he said, adding that the OPR is expected to increase by 25 basis points.
As for exports of commodities, he noted that the exports of palm oil and crude petroleum had advanced during the month.
Malaysia’s exports to major markets had registered double-digit growth rates in May, except for exports to China.
6 July 2014 @ 10:57 PM
By RUPA DAMODARANKUALA
ANALYSTS say strong exports numbers may prompt Bank Negara Malaysia to raise borrowing costs this week.
Wellian Wiranto of OCBC Bank said most encouragingly was the electrical and electronics sector.
“The bulwark sector of electrical and electronic products continued to show resilient strength,
shipping RM21.2 billion of chips and such in May, compared to
an average of 20.4 billion of the prior three months.”
Bank Negara will hold its next monetary policy committe meeting on Thursday.
There are increasing market expectations for the overnight policy rate (OPR) — a benchmark for banks to determine interest rates — to be raised after 17 meetings where it stayed pat.
Data released on Friday showed Malaysia’s exports jumped unexpectedly in May, backed by a further bounce in electronic products.
Exports expanded by 16.3 per cent, surpassing market expectations. Imports also grew a faster 11.9 per cent while the trade surplus narrowed to RM5.7 billion.
“Year-to-date, Malaysia’s export growth is outpacing that seen in the rest of EM Asia (in US dollar terms),” said Dr Chua Hak Bin, economist with Bank of Merrill Lynch.
“Surging exports and robust production provide room for Bank Negara to hike policy rate,” he said, adding that the OPR is expected to increase by 25 basis points.
As for exports of commodities, he noted that the exports of palm oil and crude petroleum had advanced during the month.
Malaysia’s exports to major markets had registered double-digit growth rates in May, except for exports to China.
Rate-rise speculation booasts ringgit lure
8 July 2014 @ 10:15 AM
Malaysia’s central bank looks set to become the first in Southeast Asia to raise its benchmark interest rate this year, spurring a ringgit rally that made the nation’s bonds the region’s top performers.
Bank Negara Malaysia will increase borrowing costs to 3.25 per cent from three per cent on July 10, according to 14 of 19 economists surveyed by Bloomberg. The ringgit gained one per cent in the past month as global funds pumped money into the country’s assets. Local-currency sovereign notes have returned 0.5 per cent in a month, compared with losses of 0.6 per cent and 0.5 per cent in Thailand and the Philippines, Bloomberg indexes show. Indonesian securities were little changed.
Malaysia is better placed to weather higher oil prices triggered by the sectarian conflict in Iraq because it’s a net exporter of the fuel, supporting the current-account surplus, according to Morgan Stanley. Central banks in Thailand and Indonesia face the need to support economic growth during political transitions, while the Philippines has so far opted to curb cash supply instead of raising its benchmark rate.
“We are constructive on the ringgit because of the more hawkish policies expected from the central bank,” Hakan Aksoy, a fund manager at Pioneer Investments in London that oversees 179 billion euros (US$243 billion) globally, said in a July 4 e- mail interview. “Malaysia has some comparative advantage because of the increasing oil prices recently and the other countries may also have some recent disadvantages.”
8 July 2014 @ 10:15 AM
Malaysia’s central bank looks set to become the first in Southeast Asia to raise its benchmark interest rate this year, spurring a ringgit rally that made the nation’s bonds the region’s top performers.
Bank Negara Malaysia will increase borrowing costs to 3.25 per cent from three per cent on July 10, according to 14 of 19 economists surveyed by Bloomberg. The ringgit gained one per cent in the past month as global funds pumped money into the country’s assets. Local-currency sovereign notes have returned 0.5 per cent in a month, compared with losses of 0.6 per cent and 0.5 per cent in Thailand and the Philippines, Bloomberg indexes show. Indonesian securities were little changed.
Malaysia is better placed to weather higher oil prices triggered by the sectarian conflict in Iraq because it’s a net exporter of the fuel, supporting the current-account surplus, according to Morgan Stanley. Central banks in Thailand and Indonesia face the need to support economic growth during political transitions, while the Philippines has so far opted to curb cash supply instead of raising its benchmark rate.
“We are constructive on the ringgit because of the more hawkish policies expected from the central bank,” Hakan Aksoy, a fund manager at Pioneer Investments in London that oversees 179 billion euros (US$243 billion) globally, said in a July 4 e- mail interview. “Malaysia has some comparative advantage because of the increasing oil prices recently and the other countries may also have some recent disadvantages.”
All eyes on OPR at Bank Negara meeting
If the rate is raised tomorrow, ringgit could rise to RM3.15 per US$ soon: RHB
BY PAULINE NG IN KUALA LUMPUR
PUBLISHED JULY 09, 2014
THE ringgit - which has rallied ahead of a key central bank policy meeting - could creep up to RM3.15 per US$ in the near term should the central bank raise the key overnight policy rate (OPR) tomorrow, RHB Investment says.
After a sluggish 0.1 per cent gain against the greenback in June, the local currency strengthened substantially by 0.6 per cent in the first week of July, to hit an eight-month high of 3.1850 on July 4.
Yesterday, it was quoted at the mid-range of 3.1785 to the dollar on the Bank Negara website, the further rise in tandem with a pick-up in Malaysia's foreign exchange reserves in June.
After registering a dip of US$0.3 billion in May, the foreign exchange reserves rose by US$1 billion to US$131.9 billion as at end- June.
Ahead of Bank Negara's monetary policy committee (MPC) meeting tomorrow, many are betting on a rate hike as it highlighted (at the last meeting in May) signs of a continued build-up in financial imbalances.
The OPR has been left untouched at 3 per cent for more than three years, with its last adjustment in May 2011.
Other factors that could influence Bank Negara's decision include an environment of negative interest rates - the consumer price index has risen from 2.5 per cent last year to about 3.5 per cent this year on higher power and fuel tariffs while fixed deposit rates are about 3 per cent - and better-than-expected economic growth in the first quarter of 6.2 per cent.
Most economists have forecast a 25 basis points increase. Should the central bank defer the move to give debtors a few more months of breathing space, borrowers can expect to be paying more after September, when the next MPC meeting is scheduled.
With household debt now at about 87 per cent of GDP - one of the highest in the region - there are increasing concerns about the high level of indebtedness, particularly since a substantial portion of it is held by lower- to mid-income earners.
Indeed, the rate hike (although slight) could be painful for those who are already struggling to make ends meet.
However, higher interest rates will add to Malaysia's appeal to foreign investors, who in June were net buyers of local equities, albeit slightly at RM0.6 billion (S$234 million). This was reflected in the market capitalisation of the bourse of RM1.74 trillion as at-end June compared to RM1.71 trillion two weeks ago.
Should the rate hike not materialise this week, RHB economist Peck Boon Soon expects the ringgit to weaken to around 3.20- 3.25 per US$ in the near term, and possibly fall further to 3.25-3.30 if expectations of a rate hike in the US gather steam.
http://www.businesstimes.com.sg/premium/malaysia/all-eyes-opr-bank-negara-meeting-20140709
If the rate is raised tomorrow, ringgit could rise to RM3.15 per US$ soon: RHB
BY PAULINE NG IN KUALA LUMPUR
PUBLISHED JULY 09, 2014
THE ringgit - which has rallied ahead of a key central bank policy meeting - could creep up to RM3.15 per US$ in the near term should the central bank raise the key overnight policy rate (OPR) tomorrow, RHB Investment says.
After a sluggish 0.1 per cent gain against the greenback in June, the local currency strengthened substantially by 0.6 per cent in the first week of July, to hit an eight-month high of 3.1850 on July 4.
Yesterday, it was quoted at the mid-range of 3.1785 to the dollar on the Bank Negara website, the further rise in tandem with a pick-up in Malaysia's foreign exchange reserves in June.
After registering a dip of US$0.3 billion in May, the foreign exchange reserves rose by US$1 billion to US$131.9 billion as at end- June.
Ahead of Bank Negara's monetary policy committee (MPC) meeting tomorrow, many are betting on a rate hike as it highlighted (at the last meeting in May) signs of a continued build-up in financial imbalances.
The OPR has been left untouched at 3 per cent for more than three years, with its last adjustment in May 2011.
Other factors that could influence Bank Negara's decision include an environment of negative interest rates - the consumer price index has risen from 2.5 per cent last year to about 3.5 per cent this year on higher power and fuel tariffs while fixed deposit rates are about 3 per cent - and better-than-expected economic growth in the first quarter of 6.2 per cent.
Most economists have forecast a 25 basis points increase. Should the central bank defer the move to give debtors a few more months of breathing space, borrowers can expect to be paying more after September, when the next MPC meeting is scheduled.
With household debt now at about 87 per cent of GDP - one of the highest in the region - there are increasing concerns about the high level of indebtedness, particularly since a substantial portion of it is held by lower- to mid-income earners.
Indeed, the rate hike (although slight) could be painful for those who are already struggling to make ends meet.
However, higher interest rates will add to Malaysia's appeal to foreign investors, who in June were net buyers of local equities, albeit slightly at RM0.6 billion (S$234 million). This was reflected in the market capitalisation of the bourse of RM1.74 trillion as at-end June compared to RM1.71 trillion two weeks ago.
Should the rate hike not materialise this week, RHB economist Peck Boon Soon expects the ringgit to weaken to around 3.20- 3.25 per US$ in the near term, and possibly fall further to 3.25-3.30 if expectations of a rate hike in the US gather steam.
http://www.businesstimes.com.sg/premium/malaysia/all-eyes-opr-bank-negara-meeting-20140709
For a 1mil project with 80% loan, 25 basis points is about additional S$66 monthly. That is about a day tripper will spent in JB for shop+meal or just "entertainment" per month. Gonna be tough stretching your dollar going forward though.
Have to skip 1 Carousel buffet every mth liao...... LOL....
SGD $66 could be based on interest rate alone. If exchange rate is not favorable also, it is easily SGD $20 more a month if exchange rate drops from 2.55 to 2.5.
Malaysia raises interest rate in first hike in three years
POSTED: 10 Jul 2014 19:49
Malaysia's central bank on Thursday raised a key interest rate to curb inflation in the first adjustment in more than three years, amid public protests over price hikes.
KUALA LUMPUR: Malaysia's central bank on Thursday raised a key interest rate to curb inflation in the first adjustment in more than three years, amid public protests over price hikes.
Bank Negara said it decided to raise the overnight policy rate by 25 basis points to 3.25 percent on the back of "continued strength in exports and private sector activity".
"Amid the firm growth prospects and with inflation remaining above its long-run average, the MPC (monetary policy committee) decided to adjust the degree of monetary accommodation," it said in a statement.
Bank Negara has kept the rate steady since May 2011.
Inflation stood at 3.4 percent for the first five months of the year after cuts in fuel, sugar and other subsidies, according to the latest government figures.
For all of last year it was 2.1 percent compared to 2012.
Malaysians have staged a series of protests against rising prices, accusing the government of economic mismanagement and corruption that has drained state coffers.
Most recently, thousands gathered for an opposition-led rally on May Day to rally against a new consumer tax that will be introduced next year.
Economists have welcomed the expected six percent tax as a way to help lower one of Asia's highest debt-to-GDP ratios, but the opposition says it will burden ordinary consumers.
Southeast Asia's third largest economy grew a better-than-expected 6.2 percent in the first quarter of the year, boosted by strong export figures.
Exports from January to May this year jumped 13.5 percent with shipments to key partner China surging 11.4 percent in the period year-on-year.
Analysts have said the rate hike can also tackle high consumer debt.
Last year, the central bank imposed measures on household lending, including limits to loan tenures, to reign in what economists said was "excessive" consumer borrowing and curb property speculation.
- AFP/de
http://www.channelnewsasia.com/news/business/malaysia-raises-interest/1252936.html
POSTED: 10 Jul 2014 19:49
Malaysia's central bank on Thursday raised a key interest rate to curb inflation in the first adjustment in more than three years, amid public protests over price hikes.
KUALA LUMPUR: Malaysia's central bank on Thursday raised a key interest rate to curb inflation in the first adjustment in more than three years, amid public protests over price hikes.
Bank Negara said it decided to raise the overnight policy rate by 25 basis points to 3.25 percent on the back of "continued strength in exports and private sector activity".
"Amid the firm growth prospects and with inflation remaining above its long-run average, the MPC (monetary policy committee) decided to adjust the degree of monetary accommodation," it said in a statement.
Bank Negara has kept the rate steady since May 2011.
Inflation stood at 3.4 percent for the first five months of the year after cuts in fuel, sugar and other subsidies, according to the latest government figures.
For all of last year it was 2.1 percent compared to 2012.
Malaysians have staged a series of protests against rising prices, accusing the government of economic mismanagement and corruption that has drained state coffers.
Most recently, thousands gathered for an opposition-led rally on May Day to rally against a new consumer tax that will be introduced next year.
Economists have welcomed the expected six percent tax as a way to help lower one of Asia's highest debt-to-GDP ratios, but the opposition says it will burden ordinary consumers.
Southeast Asia's third largest economy grew a better-than-expected 6.2 percent in the first quarter of the year, boosted by strong export figures.
Exports from January to May this year jumped 13.5 percent with shipments to key partner China surging 11.4 percent in the period year-on-year.
Analysts have said the rate hike can also tackle high consumer debt.
Last year, the central bank imposed measures on household lending, including limits to loan tenures, to reign in what economists said was "excessive" consumer borrowing and curb property speculation.
- AFP/de
http://www.channelnewsasia.com/news/business/malaysia-raises-interest/1252936.html
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