Just shows the Malaysians themselves are trying to rid their depreciating RM with anticipation that it'll be 1:3 very soon with the S$.
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Exchange Rates for RM
- Thread starter crystal_tiong
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Just shows the Malaysians themselves are trying to rid their depreciating RM with anticipation that it'll be 1:3 very soon with the S$.
The foreign reserves have fallen to a level that is about the amount the foreigners are the holding in term of Malaysian government bonds. If the foreigners forsake the bonds with capital control lingering, the ringgit will plunge. If that happens, we may get RM5.
Many of my SPR friends had already stop remitting large portion of their salary (in S$) back, unlike before.
Now, they saved them in a local bank here, despite the non existence interest rates, and only remit the basic monthly requirement back.
Every S$1,000 saved about 6 months ago in SG is getting them almost RM300 more today!
Now, they saved them in a local bank here, despite the non existence interest rates, and only remit the basic monthly requirement back.
Every S$1,000 saved about 6 months ago in SG is getting them almost RM300 more today!
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Reuters RM$3.0007
That's it lah... psychological barrier breached.
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Congrats to those who pay slowly...:p
A historic and happy day indeed for most bros and sis in the forum! 50 long years of hard work to make this possible.
Expect the Malaysians to panic selling of the RM with anticipation of a free fall anytime soon because the BNM, with a very much smaller Reserve (was USD94.5 billion last week), will be unable to defend its free fall.
If I have a few million RM loose cash, I'll do just that to hedge.
Key is the foreign capital inflow and outflows, not the money exchanges of ikan bilis Malaysians and Singaporeans. Carnage on the Asian stock market today, with STI below 2,850 and 3 months sibor close to 1%.
Cant help but admire Soros for his incredible timing in offloading Alibaba, compared to our beloved Temasek.
this quoted by MC or on XE website?? Quoted on XE website not necessarily given by MC...
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MC not there yet....only give you RM$2.95
Obviously it not the regular MY /SG peasants who actually can't do much about it.
Its the very rich Malaysians and foreigners where every 0.1 % drop in the RM equates tens of thousands if not millions loss which explains the rapid outflow of foreign funds the last few months.
Money changers would be glad to hang on to and keep foreign currencies and sell as much RM as possible.
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Reuters RM$3.0265
Keep your strong S$ as the RM$ is weakening by the day.
Keep your strong S$ as the RM$ is weakening by the day.
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Soros and company are the real sharks.
TH is just novice with only tons of hard earn money from Singapore to play with.
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CIMB remit rate at 2.9969!!!
Like Iskandar Malaysia, the Ringgit is also going one way - down.
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Rm at 17yr low against US$ - Rm 4.23
Reports that Abu Dhabi investment company pulling out of plan to help restructure 1MDB $3.5Billion of debt
Crude/Palm oil/general commodities down. No recovery in sight. Slowing China greater than expected
Iran says will supply crude at any price. Morgan Stanley projects Rm to drop 4.75 Against US in next 6-12 mths
Only reprieve for Rm is if OPEC holds emergency meeting to reduce supply. But this goes against Saudi strategy of competing against US shale for market share. They can still make profit selling above US$25
Reports that Abu Dhabi investment company pulling out of plan to help restructure 1MDB $3.5Billion of debt
Crude/Palm oil/general commodities down. No recovery in sight. Slowing China greater than expected
Iran says will supply crude at any price. Morgan Stanley projects Rm to drop 4.75 Against US in next 6-12 mths
Only reprieve for Rm is if OPEC holds emergency meeting to reduce supply. But this goes against Saudi strategy of competing against US shale for market share. They can still make profit selling above US$25
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