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Exchange Rates for RM

snowbird

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Loyal
You mean that's no money changer in JB or Malaysia? Hmm.. and they come into Singapore to change from 12am to 4am?

Something must be wrong.

anyway, in the jam 80% are Singapore cars returning home ya

Do you know that many drivers of SG cars are actually SPRs?
Anyway, some will convert their RM to S$ and keep in their SG bank account to hedge the fall, many people I know does this.

Look at this chart, in 5 years, the RM had depreciated 50% against the US$, falling from about 3 to 4.5 now!
If you're a Malaysian, you scared or not?

rm.PNG
 

enjoylife77

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Those Malaysian with foresight already hedge against the fall long ago. Change only the absolute amount you need to spend while in Malaysia. It will only become weaker going forward. Only turnaround impetus to the direction is implementing capital control again
 

enjoylife77

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We left Bukit Indah at 11pm. Reach Singapore house at 4am.

Apparently at 3 and 4am the Tuas 2nd link is fully jammed.. since 7pm the night before. Fully congested

5 hours jam!

Frist time in history!!!

That's why I always plan my journey carefully to avoid the unnecessary frustrating jam. As my work is flexi-hour, I can always travel when everyone is at work or school. Do take note of LTA's free entry extended to MY plate during school holiday here. Of course the cam on both checkpoint is useful when one is approaching immigration. School holidays, weak RM$, multiple festive holiday and other factor will be at play how traffic pan out ahead.
 

Investor888

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The RM 20 simply make no difference to the amount of travellers entering Malaysia for business or leisure. In fact, the RM 3.10 means we have seen the worse influx of Sinkies into Malaysia since 1965.

Its as if Singapore is facing doomsday.

I hope the Singapore LTA increase the VVEP to S$50 soon for Foreign-registerd cars. At this rate its so hard to have fun in Malaysia!
 

snowbird

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Loyal
Reuters report on the RM yesterday :
http://www.reuters.com/article/malaysia-fx-controls-idUSL4N1DP21T?feedType=RSS&feedName=marketsNews

RM plunged nearly 7% over the last two weeks, the worst performing currency in Asia.
Last week, BNM's attempts to force currency traders overseas to stop selling down the RM has had little discernible impact so far.
Many fear a high possibility the government may slap capital controls.
Foreign investors are fleeing from Malaysia's bond market and MY is especially vulnerable to any large outflows.
BNM has less ammunition to defend the RM. Foreign currency reserves now stood at $98.3 billion, about a third below the record $141.4 billion reached in 2013.
MY is treating the symptoms and not the underlying cause of the problem, which is worsening economic fundamentals.

Conclusion : Let the RM continue to slide, intervene to defend the currency, raise interest rates or even impose capital controls like during the 1997/98 Asian financial crisis.
But, are there any other options?
Maybe China can come over and buy over all the stocks and bonds sold by the other foreign investors?
 

mpan12

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Loyal
Actually what is causing this almost uninhibited downward slide in RM?

When S$1 = RM2.9, my friend told me he was going to change lots (>S$10k). News, or rumours rather, said RM won't stay so low forever.

I told him to hold his horses first. You never know how low it could get. But he felt the temptation was too strong and changed to RM.

Now he has lost at least S$3k in currency loss.

Those who rushed to changed when S$1=RM2.70 thinking it was as good as it could get made worse losses.

Is now still a good time to change and store? I don't think so. But no one knows.... damn volatile now for everything.
 

sgtsk

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今天长诚的汇率:

◆ 人民币 cny :4.920
◇ 马 币 myr:3.120
◆ 印尼盾 idr : 9459
◇ 台 币 ntd :21.30
◆ 港 币 hkd :5.370
◇ 越南盾 vnd :15605
 

Investor888

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Loyal
I changed my savings all into ringgits and save about RM 10k compared to last year this time.

I am not afraid of further drop ( in fact I am loving it ) because it takes me just 6 months to use up the ringgits



Actually what is causing this almost uninhibited downward slide in RM?

When S$1 = RM2.9, my friend told me he was going to change lots (>S$10k). News, or rumours rather, said RM won't stay so low forever.

I told him to hold his horses first. You never know how low it could get. But he felt the temptation was too strong and changed to RM.

Now he has lost at least S$3k in currency loss.

Those who rushed to changed when S$1=RM2.70 thinking it was as good as it could get made worse losses.

Is now still a good time to change and store? I don't think so. But no one knows.... damn volatile now for everything.
 

snowbird

Alfrescian
Loyal
I changed my savings all into ringgits and save about RM 10k compared to last year this time.

I am not afraid of further drop ( in fact I am loving it ) because it takes me just 6 months to use up the ringgits

Smart Malaysians change their RMs to S$ to hedge.
Not so smart people change their S$ to RMs to keep to lose money.
 

Investor888

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Smart Malaysians change their RMs to S$ to hedge.
Not so smart people change their S$ to RMs to keep to lose money.

Sure or not? Every other month I buy stockers in Ringgit and resell to Sinkies.. Every month (compare to last year ) just based on currency exchange I "earned" RM 5000 every month ( assuming sales remain the same )

I know I am not so smart to earn just RM 5000 every week just on currency changes. I am sure u are earning S$5000 every time!
 

DCputeri

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MYR will strengthen today with cut in crude production by OPEC.
Sure or not? Every other month I buy stockers in Ringgit and resell to Sinkies.. Every month (compare to last year ) just based on currency exchange I "earned" RM 5000 every month ( assuming sales remain the same )

I know I am not so smart to earn just RM 5000 every week just on currency changes. I am sure u are earning S$5000 every time!
 

sgtsk

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Loyal
MYR will strengthen today with cut in crude production by OPEC.

You are right

今天长诚的汇率:

◆ 人民币 CNY :4.90
◇ 马 币 MYR:3.10
◆ 印尼盾 IDR : 9470
◇ 台 币 NTD :21.25
◆ 港 币 HKD :5.340
◇ 越南盾 VND :15740
 

snowbird

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Loyal
MYR will strengthen today with cut in crude production by OPEC.

Don't be too happy too soon.
The OPEC agreement only agreed to cut by a mere 10% and only on production and nothing on export which means members can still sell as much from their stock as they needed to.
Non OPEC members have no restrictions so may increase production and if prices starts to rise more, it'll become more economically enticing for US to pump more crude.
 

mpan12

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Loyal
That's why I always plan my journey carefully to avoid the unnecessary frustrating jam. As my work is flexi-hour, I can always travel when everyone is at work or school. Do take note of LTA's free entry extended to MY plate during school holiday here. Of course the cam on both checkpoint is useful when one is approaching immigration. School holidays, weak RM$, multiple festive holiday and other factor will be at play how traffic pan out ahead.

You're fortunate! The not so lucky ones have to bear the jams and frustrations every day.

At some point, I wonder if it is all worth it to even "save" that $50-100 buying or eating in JB. You may save that bit financially but the time gone and emotional stress are priceless and worth a lot more.

As I get older, I am finding I exchange my money for time more frequently. Just pay more but you get confortable and have more quality time for yourself and your family.
 

RedsYNWA

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Loyal
You're fortunate! The not so lucky ones have to bear the jams and frustrations every day.

At some point, I wonder if it is all worth it to even "save" that $50-100 buying or eating in JB. You may save that bit financially but the time gone and emotional stress are priceless and worth a lot more.

As I get older, I am finding I exchange my money for time more frequently. Just pay more but you get confortable and have more quality time for yourself and your family.

It's perfect for retirees but perhaps less so for working adults. For retirees, you get to 'monetize' (ie rent out) your HDB and/or SG condo, while retiring in a comfortable freehold landed. For landed maintenance, part time maids are just as cheap (if not more so) in MY.
 

snowbird

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Loyal
Sure or not? Every other month I buy stockers in Ringgit and resell to Sinkies.. Every month (compare to last year ) just based on currency exchange I "earned" RM 5000 every month ( assuming sales remain the same )

I know I am not so smart to earn just RM 5000 every week just on currency changes. I am sure u are earning S$5000 every time!

Only very crass and boorish people loves to show off their wealth and how much they earn but then, those figures are usually inflated several times over to boost their ego .
 

mpan12

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Loyal
Yup. For retirees may be a different story, especially if they don't need to come into Singapore so often.

I was previously referring more to those who are still working or go buy things over the weekend hoping to save that small amount.

It's perfect for retirees but perhaps less so for working adults. For retirees, you get to 'monetize' (ie rent out) your HDB and/or SG condo, while retiring in a comfortable freehold landed. For landed maintenance, part time maids are just as cheap (if not more so) in MY.
 

enjoylife77

Alfrescian
Loyal
You're fortunate! The not so lucky ones have to bear the jams and frustrations every day.

At some point, I wonder if it is all worth it to even "save" that $50-100 buying or eating in JB. You may save that bit financially but the time gone and emotional stress are priceless and worth a lot more.

As I get older, I am finding I exchange my money for time more frequently. Just pay more but you get confortable and have more quality time for yourself and your family.

I encourage you to continue your trip to JB as the savings is worth it. Do spend more on good restaurant, wellness e.g. foot reflexology, groceries, fashion, pharmaceuticals item (Savings from Watson's & Guardian are incredulous), car related necessity, entertainment, sight seeing etc. Whenever possible I'll stay a day or two as I have friends with extra room. If non can accommodate me, I am happy to check into a mid price hotel and leave the next day when the Causeway is clear.

I like it free and easy all the way.
 

snowbird

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Loyal
Will The Ghost Of 1998 Haunt The Ringgit?

There seems to be no respite for the ringgit: it lost 6% in the past month, it has been dubbed among one of the worst performing emerging Asian currencies, and it has lost the confidence of investors.
Just last Thursday, the Malaysian currency traded at 4.4707 to the US dollar, flirting with levels not seen since the depths of the Asian financial crisis more than 18 years ago.
Also, the ringgit is expected to suffer its fourth consecutive annual loss against the US dollar this year, despite efforts by Bank Negara Malaysia to stem the currency’s slide, leaving investors to ponder if they will see a repeat of 1998.

Continue to read here :

https://www.imoney.my/articles/ringgit-peg-1998-malaysia
 

sgtsk

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Loyal
◆ 人民币 cny :4.920
◇ 马 币 myr:3.115
◆ 印尼盾 idr : 9430
◇ 台 币 ntd :21.45
◆ 港 币 hkd :5.395
◇ 越南盾 vnd :15790
 
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