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Exchange Rates for RM

Ringgit to remain volatile until Trump takes office

The Socio-Economic Research Centre executive director Lee Heng Guie :
"Ringgit’s volatility will remain for sometime as investors’ sentiments are driven by expectations of Trump’s economic policies that may mean even a stronger greenback and higher US interest rates.
What is important is for Malaysia to continue to address its economic vulnerabilities and strengthen domestic fundamentals, backed by a strong reserve,”

http://www.themalaymailonline.com/m...until-trump-takes-office#sthash.AAIo7zmi.dpuf
 
Today's exchange rate via CIMB is 3.0693. (17 Nov 4pm) It is effortless to do it by the click of the button than to take bus/drive to the MC and stuck in the long queue.
angmokio said:
just received from Komtar money changer JB Central trading message 3.07 today
Click to expand...
 
DCputeri said:
Today's exchange rate via CIMB is 3.0693. (17 Nov 4pm) It is effortless to do it by the click of the button than to take bus/drive to the MC and stuck in the long queue.
Click to expand...

It all depends how you look at it.
Change the money and put into UOB or OCBC currently at 3.95% fd.
Also go for a good simple makan behind the WAF lorong , nice nasi campur and I mean good. And go to bakery shop near OCBC for fresh charcoal baked bread, really good
 
Malaysian Central Bank demands commitment from foreign banks that they will stop trading currency in offshore markets

The RM is dropping rapidly to new low in 12 years.
Foreign funds are fleeing from the market in tens of billions.
Some bankers said " My feeling is that they are trying to effectively put on a capital control, as direct intervention will be difficult because of the fragile reserves situation".

The Ringgit is in distress.
Beware, capital control may be the next thing!!
I really hope everyone knows what is capital control is all about.

http://www.straitstimes.com/business/malaysia-takes-action-as-ringgit-plunges
 
Last edited:
Long term weakness of the RM$ make investment in property very tricky. Anyone who bought Princess Cove 3 years ago may be sitting on losses even before the key is ready for collection.
 
enjoylife77 said:
Long term weakness of the RM$ make investment in property very tricky. Anyone who bought Princess Cove 3 years ago may be sitting on losses even before the key is ready for collection.
Click to expand...

Foreign investor are offloading stocks massively in the last weeks, almost RM1 billion a week.
Right now, Bank Negara is very panicky about outflow of funds hence the instructions to bankers earlier this week .
Foreign banks in Malaysia are trying to work out how to comply with the central bank's clamp-down on offshore ringgit trading, a move the broader market views as a form of capital controls.
So, in fact, some form of capital control is already being imposed right now and if things gets worse, it'll be a blanket capital control!!
And if this happens, even if you can sell the property, you cannot take the money out.

http://www.thesundaily.my/news/2060191
http://www.todayonline.com/business/foreign-banks-shaken-malaysias-move-halt-currency-slide
 
What about those who take 80% loans?

I use to spend $1000 - RM 2500 on monthly instalments. Now S$1000 gives me RM 3050. Extra RM 550 per month for me to pay bills



enjoylife77 said:
Long term weakness of the RM$ make investment in property very tricky. Anyone who bought Princess Cove 3 years ago may be sitting on losses even before the key is ready for collection.
Click to expand...
 
enjoylife77 said:
Long term weakness of the RM$ make investment in property very tricky. Anyone who bought Princess Cove 3 years ago may be sitting on losses even before the key is ready for collection.
Click to expand...

Which is probably mitigated unless they are all cash buyers?
 
snowbird said:
Foreign investor are offloading stocks massively in the last weeks, almost RM1 billion a week.
Right now, Bank Negara is very panicky about outflow of funds hence the instructions to bankers earlier this week .
Foreign banks in Malaysia are trying to work out how to comply with the central bank's clamp-down on offshore ringgit trading, a move the broader market views as a form of capital controls.
So, in fact, some form of capital control is already being imposed right now and if things gets worse, it'll be a blanket capital control!!
And if this happens, even if you can sell the property, you cannot take the money out.

http://www.thesundaily.my/news/2060191
http://www.todayonline.com/business/foreign-banks-shaken-malaysias-move-halt-currency-slide
Click to expand...

If money cannot take out of MY then maybe the better option would be to keep it in MY and spend it within MY so you don't get to realise the exchange loss?
 
Back in 2009, S$1 bought you RM$2.38. Today S$1 bought you RM$3.10. Are you better off taking into account the 20% down payment and progress payment made over the past few years with a weakening RM$ then till today? Did the property appreciate enough to mitigate the currency translation loss? Even if I were to invest in Princess Cove today, what will be the RM$ rate in 2026 (10 years loan) for me to cash out is anyone's guess.
Investor888 said:
What about those who take 80% loans?

I use to spend $1000 - RM 2500 on monthly instalments. Now S$1000 gives me RM 3050. Extra RM 550 per month for me to pay bills
Click to expand...
 
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