Exchange Rates for RM

[whoami]

After singapore moneychanger get rid of present stock of my currency to cut loss, rate likely be rm2.63 upwards.

Cut loss? I am getting 2.60 at JB whereas bedok MC quoting me 2.578. I am shortchanged by 0.022

 

[whoami]

Cimb internet trsf...2.6121

Still holding on to my S$....

 

[FHBH12]

Cimb internet trsf...2.6121

Still holding on to my S$....

RM has weakened to 2.65

 

[xixxix]

RM has weakened to 2.65

Can you help me understand why most here are happy? Aren't you afraid that your net value will go down due to the fast depreciation of the ringgit?

 

[potter]

Ho sai..breaking out liao. wait a bit longer then change big big..

 

[Manhattan]

Can you help me understand why most here are happy? Aren't you afraid that your net value will go down due to the fast depreciation of the ringgit?

Most happy people here committed their property in rm and earn their money in sg. When rm depreciates by 10% also means another 10% in their purchase. Of course happy.

As for depreciating asset, will not realise unless they sell. Which can be some years down the road, too early to worry.

 

[Organic]

Most happy people here committed their property in rm and earn their money in sg. When rm depreciates by 10% also means another 10% in their purchase. Of course happy.

As for depreciating asset, will not realise unless they sell. Which can be some years down the road, too early to worry.

...plus some plan to retire in Malaysia, no intention to change back to SGD should they sell away their property/ies

 

[bakkuttay]

Most at arcade at rm2.60 real value should be rm2.64, all huat ahhh!!!

 

[AHGS14]

If the Ringgit continues to slide, would we be seeing the return of the currency control?

 

[Sweeve]

Just for sharing purpose :

1. http://www.exchangerate.my/
click on SGD (Singapore dollar)
Hong Leong seems to be giving the best rate for now.

2. https://uniservices1.uob.com.my/jsp/finance/fin_xrate.jsp?

3. http://sgmoney-xchange.blogspot.sg/

 

[Niucomer]

Re: why a cheaper ringgit may not be bad

.

Can you help me understand why most here are happy? Aren't you afraid that your net value will go down due to the fast depreciation of the ringgit?

If I may explain my rudimentary understanding of economics 101 :o

1. Cheaper housing installments - Since most property owners take loans to purchase their Malaysian properties, they will be making repayments with a cheaper Ringgit. The savings in a cheaper Ringgit will however be negated partially when interest rates rise in tandem with a depreciating currency (think Argentina). However in most cases of loan repayment, the gain arising from the depreciation outweighs the increment in installment arising from the higher interest rates.

2. Higher property prices - When a currency weakens, the inflation rate of that economy will rise as more of the cheaper currency is needed to purchase the same items (think banana currency). Imports will become more expensive. Labor will require higher compensation for their time. Building materials will increase and developers will find it necessary to increase their prices. When this happens, properties in the secondary market will also see an increase in prices. In the long term, the net asset values of real properties should not be materially affected.

If more detailed explanation is needed, I will need to go dig up my samuelson book

Those suffering from a weakening Ringgit will be the local populace who keep their financial assets in Ringgit.

 

[DCputeri]

Re: why a cheaper ringgit may not be bad

Toa Payoh central xchange rate 2.59. There is a long queue.

 

[Narmi]

Re: why a cheaper ringgit may not be bad

Toa Payoh central xchange rate 2.59. There is a long queue.

Think its due to school hols that adds up to the queue as ppl wanna go for their annual vacation in msia.

 

[FHBH12]

Re: why a cheaper ringgit may not be bad

.

If I may explain my rudimentary understanding of economics 101 :o

1. Cheaper housing installments - Since most property owners take loans to purchase their Malaysian properties, they will be making repayments with a cheaper Ringgit. The savings in a cheaper Ringgit will however be negated partially when interest rates rise in tandem with a depreciating currency (think Argentina). However in most cases of loan repayment, the gain arising from the depreciation outweighs the increment in installment arising from the higher interest rates.

2. Higher property prices - When a currency weakens, the inflation rate of that economy will rise as more of the cheaper currency is needed to purchase the same items (think banana currency). Imports will become more expensive. Labor will require higher compensation for their time. Building materials will increase and developers will find it necessary to increase their prices. When this happens, properties in the secondary market will also see an increase in prices. In the long term, the net asset values of real properties should not be materially affected.

If more detailed explanation is needed, I will need to go dig up my samuelson book

Those suffering from a weakening Ringgit will be the local populace who keep their financial assets in Ringgit.

Yes, and hard times ahead for e govt n locals. The lower income will bear e brunt as govt cancels subsidies n low cost housing projects.

 

[IRONMAN123]

2.6121. CIMB bank

Those who want to open CIMB a/c, there is a referral promo.

 

[wolverine23]

Re: why a cheaper ringgit may not be bad

Good time to remit via CIMB now???

 

[DCputeri]

Open is Singapore or JB? Is there a branch in JB city square mall?

2.6121. CIMB bank

Those who want to open CIMB a/c, there is a referral promo.

 

[potter]

a few clicks to transfer via cimb, 2.6121. in case slip away...:p

 

[whoami]

RM has weakened to 2.65

With all d negative news coming msia, not advisable to long ringgit for the time being.

 

[whoami]

If the Ringgit continues to slide, would we be seeing the return of the currency control?

Dr Mahathir dare to make tough decisions. Najib? Hmm.....