Exchange Rates for RM

[UsernameX]

Just TT online with CIMB rate - 2.629 (no transaction fee). Super fast don't need to Q. If TT large amt my private banker will come over - rate should be 2.639 (usually +0.01 board rate) and waiver the transaction fee. I worry to call my PB as she may ask me for extra service lol...... jk.

 

[FHBH12]

It is only worth to change if interest in your Malaysia bank is high of at least 4%. Otherwise, keeping SGD may be a better bet.

I won't TT this month. I think the underlying weakness in next year's budget has not fully been factored in the RM-SGD exchange rate

 

[Narmi]

My friend holidaying in Penang changed at 2.66! Haha i thinking the further north you go the better the rate.

 

[Narmi]

Anyone experience changing in Sabah or Sarawak? Keke

 

[snowbird]

Interest earned (savings) in CIMB a/c better off than POSB

CIMB is paying 0.8% for savings compare to DBS / POSB's 0.05%! .
While I still maintain a certain amount in CIMB SG mainly for TT purpose, if not for their limited branches and ATM, I 'll be leaving my regular savings there.

 

[DCputeri]

It is higher in CIMB but you compute the real gain when RM continue to weaken by 1%, 2, 3,....

CIMB is paying 0.8% for savings compare to DBS / POSB's 0.05%! .
While I still maintain a certain amount in CIMB SG mainly for TT purpose, if not for their limited branches and ATM, I 'll be leaving my regular savings there.

 

[snowbird]

It is higher in CIMB but you compute the real gain when RM continue to weaken by 1%, 2, 3,....

I was not talking about savings in RM.
I was making a comparison for keeping a regular savings account in SG in S$!
Simple example for maintaining:

S10,000 in POSB = $5/pa.
$10,000 in CIMB = $80/pa.
See the difference for doing nothing. Not a lot but I can have a couple of nice meals with that difference.

 

[DCputeri]

Sure. It always make sense with more. Have you consider placing in MYR FD?

I was not talking about savings in RM.
I was making a comparison for keeping a regular savings account in SG in S$!
Simple example for maintaining:

S10,000 in POSB = $5/pa.
$10,000 in CIMB = $80/pa.
See the difference for doing nothing. Not a lot but I can have a couple of nice meals with that difference.

 

[wolverine23]

Sure. It always make sense with more. Have you consider placing in MYR FD?

What is OCBC offering now for FD?

 

[whoami]

It is only worth to change if interest in your Malaysia bank is high of at least 4%. Otherwise, keeping SGD may be a better bet.

Actually i am referring to s$ a/c with cimb (s). I earned more int with cimb than pee sai int with posb. At the same time if internet trsf rates attractive like past few days i can immediately execute a trsf to my cimb(m) without much hassle. Max m$20k.

 

[whoami]

I was not talking about savings in RM.
I was making a comparison for keeping a regular savings account in SG in S$!
Simple example for maintaining:

S10,000 in POSB = $5/pa.
$10,000 in CIMB = $80/pa.
See the difference for doing nothing. Not a lot but I can have a couple of nice meals with that difference.

Yup. Been long s$ a/c with cimb (s) past year. So far putting my s$ at cimb serves my purpose.

 

[snowbird]

Sure. It always make sense with more. Have you consider placing in MYR FD?

NO! Just like any foreign currency deposit, its very volatile and movements are unpredictable.
Although the FD rate there is quite good, the RM being volatile too, the depreciation can sometimes wipe out all the interest earned or worse, you suffer a deficit.
I rather wait till when the rate is reasonably good, I'll make some transfer.
If you had place a FD in RM last year, you'll be getting a deficit now!

 

[bakkuttay]

sg$ also fell against us$ in last couple of weeks from 1.23 to 1.31

 

[shctaw]

Part and parcel of forex.

If I convert everything back to SGD I lost about 4%.
If I convert to JPY; it gain 30%. (Ringgit from JPY24 to 1 ringgit; now it is JPY34)
It is relativity.

However if you put the forex lost to the capital appreciation; it is still a wise move. Not forgetting you will be paying with weaker ringgit when you start to do renovation; buy furniture and electronic.

NO! Just like any foreign currency deposit, its very volatile and movements are unpredictable.
Although the FD rate there is quite good, the RM being volatile too, the depreciation can sometimes wipe out all the interest earned or worse, you suffer a deficit.
I rather wait till when the rate is reasonably good, I'll make some transfer.
If you had place a FD in RM last year, you'll be getting a deficit now!

 

[whoami]

Really? I though there is 2 fix time per day that they update??

Teres no fix time. Its a floating rate i.e. it may change time to time or remain as it is the whole day.

 

[whoami]

Cimb 2.6348

 

[IRONMAN123]

Cimb 2.6348

Quite high! Arcade MC 2.62 only..

 

[whoami]

Quite high! Arcade MC 2.62 only..

Yup. Can change abit if deem necessary. If not just hold on to ur S$...

 

[austin_hts]

12 Dec - Arcade 2.61
12/13 Dec - CIMB 2.629
13 Dec - Bukit Indah 2.63

Yup. Can change abit if deem necessary. If not just hold on to ur S$...

 

[whoami]

12 dec - arcade 2.61
12/13 dec - cimb 2.629
13 dec - bukit indah 2.63

RP tt 2.635
otc 2.615