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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
- Joined
- Jun 10, 2009
- Messages
- 393
- Points
- 0
Cimb 6.336
Still holding on to my S$.
Awaiting new low....:o
2.635 at Change Alley Raffles Place this morning. Become 2.634 by about Noon.
How low will the ringgit go?
The Malaysian Insider – Sat, Dec 6, 2014
In the last six months, the ringgit has been the second worst-performing currency in Asia, after the yen.
Two weeks ago, it breached the 3.400 level against the US dollar and since then, it has been hovering within a hair’s breadth of 3.5000. On December 5, it touched 3.4757 before closing at 3.4713.
The Edge Weekly in its latest edition analyses how low the ringgit would go and said that from its year-high of 3.1463 recorded on August 27, the ringgit has lost 10.3% of its value against the greenback.
The magazine said that last week alone, the ringgit declined 2.6%.
It said while the yen’s fall was a deliberate policy move by the Bank of Japan to devalue its currency, the ringgit is a victim of a convergence of several factors on both the external and domestic fronts.
“The question is, does the currency’s weakness reflect Malaysia’s economic fundamentals or is it a cyclical and temporary trend? Market observers and economists think its weakness will continue into next year.
“What sparked the sharp depreciation of the local currency was the drop in oil prices. Malaysia is the only economy in the region that will be negatively impacted by low oil prices as it is a net energy exporter while the rest are net importers,” said The Edge.
Citing a recent Barclays Research note, it said: “Currencies of net energy exporters will clearly suffer from lower oil prices... In the region, the ringgit has the highest correlation to crude oil price movements. Correlation statistics also show that crude oil price is currently the most important driver of ringgit price movements, among others (for example, the US Dollar Index, the FBM KLCI, palm oil prices and ringgit-US yield differentials).
“The overhang of foreign positioning in local market debt, particularly in short-term BNM bills and government T-bills, further adds to the ringgit’s vulnerability.” – The Edge Weekly, December 6, 2014.
https://sg.news.yahoo.com/low-ringgit-033345511.html
The Malaysian Insider – Sat, Dec 6, 2014
In the last six months, the ringgit has been the second worst-performing currency in Asia, after the yen.
Two weeks ago, it breached the 3.400 level against the US dollar and since then, it has been hovering within a hair’s breadth of 3.5000. On December 5, it touched 3.4757 before closing at 3.4713.
The Edge Weekly in its latest edition analyses how low the ringgit would go and said that from its year-high of 3.1463 recorded on August 27, the ringgit has lost 10.3% of its value against the greenback.
The magazine said that last week alone, the ringgit declined 2.6%.
It said while the yen’s fall was a deliberate policy move by the Bank of Japan to devalue its currency, the ringgit is a victim of a convergence of several factors on both the external and domestic fronts.
“The question is, does the currency’s weakness reflect Malaysia’s economic fundamentals or is it a cyclical and temporary trend? Market observers and economists think its weakness will continue into next year.
“What sparked the sharp depreciation of the local currency was the drop in oil prices. Malaysia is the only economy in the region that will be negatively impacted by low oil prices as it is a net energy exporter while the rest are net importers,” said The Edge.
Citing a recent Barclays Research note, it said: “Currencies of net energy exporters will clearly suffer from lower oil prices... In the region, the ringgit has the highest correlation to crude oil price movements. Correlation statistics also show that crude oil price is currently the most important driver of ringgit price movements, among others (for example, the US Dollar Index, the FBM KLCI, palm oil prices and ringgit-US yield differentials).
“The overhang of foreign positioning in local market debt, particularly in short-term BNM bills and government T-bills, further adds to the ringgit’s vulnerability.” – The Edge Weekly, December 6, 2014.
https://sg.news.yahoo.com/low-ringgit-033345511.html
It is very good rate gven that the yahoo market rate is currently showing 2.6749.
Glad u have finally linkup with ur a/c.
Today as i was referring to my past ex rates record. On 8/5/2013 the ex rate was 2.4435. Tat was the lowest (for me) rate i got fm MC. Base on today CIMB 2.646, the rate differential is 0.2025. For S$100K i made a "loss" of M$20250 :o As such i am still holding on to my S$....
- Joined
- Sep 2, 2014
- Messages
- 487
- Points
- 18
Reuters RM 2.6812
Any infor for Arcade bro?
Last edited:
* Ringgit hits 5-1/2 year low versus dollar
* But most Asian currencies steady to firmer versus dollar
* Drop in U.S. bond yields helps keep dollar in check
By Masayuki Kitano
SINGAPORE, Jan 13 (Reuters) - The Malaysian ringgit hit a
5-1/2 year low versus the dollar on Tuesday, dented by a renewed
slide in oil prices, underperforming on a day when most other
Asian currencies were steady to firmer.
The ringgit touched a low of 3.5870 versus the
dollar as of 0626 GMT, its lowest level since July 2009
according to Reuters data.
The ringgit fell as oil prices came under renewed pressure,
with Brent crude falling to its lowest level in more
than five years.
"The drop in oil prices will renew the pressure on the
ringgit," Citi strategist Gaurav Garg said in a research note,
adding that market sentiment towards Malaysian assets is likely
to worsen despite a recent bounce in the prices of crude palm
oil (CPO).
"Even though CPO prices have risen 12 percent since mid-
December (as floods threaten supply) and despite the buffer from
the geographically segmented nature of the natural gas market,
market sentiment towards Malaysian assets will likely sour
because fiscal policy becomes more challenging as energy prices
fall."
The cost of insuring Malaysian sovereign debt has risen the
most this year compared with that of its Southeast Asian peers
as state investor 1MDB's financing woes grew and concerns
deepened about the prospects for the net oil exporter's
petroleum revenues.
Other than the ringgit, most Asian currencies were steady to
firmer versus the dollar.
A fall in U.S. Treasury yields was helping to weigh on the
greenback and lending some support to Asian currencies, said
Satoshi Okagawa, senior global markets analyst for Sumitomo
Mitsui Banking Corporation in Singapore.
"The focus is on the dollar rather than Asia, so it all
hinges on how the dollar performs," Okagawa said, referring to
the near-term outlook for Asian currencies.
The U.S. 10-year Treasury yield has fallen roughly 7 basis
points this week, and last stood near 1.900 percent.
SOUTH KOREAN WON
The won eased back versus the dollar, after touching a fresh
two-month high of 1077.2 earlier on Tuesday.
The won had gained support earlier after a rally in the
Japanese yen tempered worries over possible won-selling
intervention by the financial authorities. The Japanese yen
touched a one-month high versus dollar earlier on Tuesday, but
later fell back.
Investors have reined in overly bullish views on the won
bearing in mind that South Korean authorities have a
predisposition towards keeping the currency competitive against
the Japanese yen.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0625 GMT
Currency Latest bid Previous day Pct Move
Japan yen 118.68 118.38 -0.26
Sing dlr 1.3352 1.3342 -0.07
Taiwan dlr 31.821 31.856 +0.11
Korean won 1082.36 1081.40 -0.09
Baht 32.85 32.89 +0.11
Peso 44.83 44.88 +0.10
Rupiah 12600.00 12595.00 -0.04
Rupee 62.09 62.14 +0.08
Ringgit 3.5870 3.5670 -0.56
Yuan 6.2019 6.2036 +0.03
Change so far in 2015
Currency Latest bid End prev year Pct Move
Japan yen 118.68 119.66 +0.83
Sing dlr 1.3352 1.3260 -0.69
Taiwan dlr 31.821 31.718 -0.32
Korean won 1082.36 1099.30 +1.57
Baht 32.85 32.90 +0.15
Peso 44.83 44.72 -0.25
Rupiah 12600.00 12380.00 -1.75
Rupee 62.09 63.03 +1.51
Ringgit 3.5870 3.4965 -2.52
Yuan 6.2019 6.2040 +0.03
https://sg.finance.yahoo.com/news/em-asia-fx-ringgit-hits-063658629.html
* But most Asian currencies steady to firmer versus dollar
* Drop in U.S. bond yields helps keep dollar in check
By Masayuki Kitano
SINGAPORE, Jan 13 (Reuters) - The Malaysian ringgit hit a
5-1/2 year low versus the dollar on Tuesday, dented by a renewed
slide in oil prices, underperforming on a day when most other
Asian currencies were steady to firmer.
The ringgit touched a low of 3.5870 versus the
dollar as of 0626 GMT, its lowest level since July 2009
according to Reuters data.
The ringgit fell as oil prices came under renewed pressure,
with Brent crude falling to its lowest level in more
than five years.
"The drop in oil prices will renew the pressure on the
ringgit," Citi strategist Gaurav Garg said in a research note,
adding that market sentiment towards Malaysian assets is likely
to worsen despite a recent bounce in the prices of crude palm
oil (CPO).
"Even though CPO prices have risen 12 percent since mid-
December (as floods threaten supply) and despite the buffer from
the geographically segmented nature of the natural gas market,
market sentiment towards Malaysian assets will likely sour
because fiscal policy becomes more challenging as energy prices
fall."
The cost of insuring Malaysian sovereign debt has risen the
most this year compared with that of its Southeast Asian peers
as state investor 1MDB's financing woes grew and concerns
deepened about the prospects for the net oil exporter's
petroleum revenues.
Other than the ringgit, most Asian currencies were steady to
firmer versus the dollar.
A fall in U.S. Treasury yields was helping to weigh on the
greenback and lending some support to Asian currencies, said
Satoshi Okagawa, senior global markets analyst for Sumitomo
Mitsui Banking Corporation in Singapore.
"The focus is on the dollar rather than Asia, so it all
hinges on how the dollar performs," Okagawa said, referring to
the near-term outlook for Asian currencies.
The U.S. 10-year Treasury yield has fallen roughly 7 basis
points this week, and last stood near 1.900 percent.
SOUTH KOREAN WON
The won eased back versus the dollar, after touching a fresh
two-month high of 1077.2 earlier on Tuesday.
The won had gained support earlier after a rally in the
Japanese yen tempered worries over possible won-selling
intervention by the financial authorities. The Japanese yen
touched a one-month high versus dollar earlier on Tuesday, but
later fell back.
Investors have reined in overly bullish views on the won
bearing in mind that South Korean authorities have a
predisposition towards keeping the currency competitive against
the Japanese yen.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0625 GMT
Currency Latest bid Previous day Pct Move
Japan yen 118.68 118.38 -0.26
Sing dlr 1.3352 1.3342 -0.07
Taiwan dlr 31.821 31.856 +0.11
Korean won 1082.36 1081.40 -0.09
Baht 32.85 32.89 +0.11
Peso 44.83 44.88 +0.10
Rupiah 12600.00 12595.00 -0.04
Rupee 62.09 62.14 +0.08
Ringgit 3.5870 3.5670 -0.56
Yuan 6.2019 6.2036 +0.03
Change so far in 2015
Currency Latest bid End prev year Pct Move
Japan yen 118.68 119.66 +0.83
Sing dlr 1.3352 1.3260 -0.69
Taiwan dlr 31.821 31.718 -0.32
Korean won 1082.36 1099.30 +1.57
Baht 32.85 32.90 +0.15
Peso 44.83 44.72 -0.25
Rupiah 12600.00 12380.00 -1.75
Rupee 62.09 63.03 +1.51
Ringgit 3.5870 3.4965 -2.52
Yuan 6.2019 6.2040 +0.03
https://sg.finance.yahoo.com/news/em-asia-fx-ringgit-hits-063658629.html
Tks bro looks like stabilizg at 2.65. Had a shock when an acquaintance showed a pic he received fr his wife colleague who showed 2.72 on his receipt for the money he chamged at CA. Did it touch that level last week?
- Joined
- Sep 2, 2014
- Messages
- 487
- Points
- 18
That's the buying rate for RM$ to change into S$
- Joined
- Jan 17, 2014
- Messages
- 1,226
- Points
- 0
Changed @ RM 2.64 in DBS bank ( no time to go remit )
- Joined
- Nov 13, 2012
- Messages
- 618
- Points
- 0
Hold till when? What rate?
Glad u have finally linkup with ur a/c.
Today as i was referring to my past ex rates record. On 8/5/2013 the ex rate was 2.4435. Tat was the lowest (for me) rate i got fm MC. Base on today CIMB 2.646, the rate differential is 0.2025. For S$100K i made a "loss" of M$20250 :o As such i am still holding on to my S$....
Oic tks bro
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