Exchange Rates for RM

Frodo · Nov 18, 2016

enjoylife77 said:
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.

Most people would have bought in 2013 (notoriously known as the herd mentality folks :wink:

) and took up 80% loans over a 15-20 years period or so, especially for peasant folks like me. So quite unlikely that the properties would have been paid off substantially and thus did not incur the full impact of the exchange losses.

snowbird · Nov 18, 2016

Frodo said:
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?

When capital control is in force, keeping the money in MY is no more an option, you have to.
Which also means if you need a large sum of money urgently outside MY, you cannot remit it out anytime you wanted to.
And of cos, foreign investors will avoid MY which will definitely hurt the property market badly.

Frodo · Nov 18, 2016

snowbird said:
When capital control is in force, keeping the money in MY is no more an option, you have to.
Which also means if you need a large sum of money urgently outside MY, you cannot remit it out anytime you wanted to.
And of cos, foreign investors will avoid MY which will definitely hurt the property market badly.

Slowly remit the money out rather than lump sum, would solve this problem?

snowbird · Nov 18, 2016

Frodo said:
Slowly remit the money out rather than lump sum, would solve this problem?

Of cos you can, for any rules there are always some loopholes here and there.
Say you need to send back S$20,000 (RM60,000) but you cannot send out in one lump sum, you can take back every workday RM2K...........you can easily do it in 5 to 6 weeks time.
But you may have another problem, RM will not be convertible outside MY.

snowbird · Nov 19, 2016

Ringgit To Continue Downtrend Next Week

The ringgit is expected to continue its downtrend next week and may stabilise at the 4.40 level against the US dollar on mounting concerns over a possible interest rate hike by the US Federal Reserve (Fed) in December.
Oil prices fell on Friday as the firmer US dollar provided some renewed hope that the Organisation of the Petroleum Exporting Countries might finally agree to production cuts.

Bank Negara Malaysia (BNM) has taken measures to stem the volatility in the foreign exchange market.
BNM assistant governor Adnan Zaylani Mohamad Zahid also assured that Malaysia was in a far better position to defend against speculation on the ringgit, having built up its coffers since the 1997/1998 Asian financial crisis.
Although foreigners held more than half of the outstanding Malaysian Government Securities, some 60 to 70 per cent consisted of long-term investors such as pension funds and other central banks, he said.

What Bank Negara fear most now is the massive exodus of foreign funds from the bonds and stock market and if there are clear signs of such activities, capital control will surely be imposed immediately.

http://finance.bernama.com/news.php?id=1303777

enjoylife77 · Nov 20, 2016

Looking around what's happening in Malaysia, I can only see RM$ weakness ahead. All my friends are very worried that their properties will depreciate further with little exit route except to default on the loan.

FHBH12 · Nov 20, 2016

If RM weakens, the cost of servicing bank loan denominated in RM will be lower after currency conversion from stronger currencies.

Raw materials (e.g. imported steel) and labour costs (i.e. foreign labourers will find RM less attractive) will go up, hence the properties will be under pressure to appreciate in RM but depreciate against the stronger currencies. A cloud on the horizon is higher bank loan interest rates once US hikes its own interest rates.

Make hay while the sun shines.

cow138 · Nov 20, 2016

Yes. That's a good assessment. Economic outlook for Malaysia is poor especially in the face of strengthening US Dollar

Frodo · Nov 20, 2016

cow138 said:
Yes. That's a good assessment. Economic outlook for Malaysia is poor especially in the face of strengthening US Dollar

Today Great World City shopping mall MC rate is 3.15!

snowbird · Nov 20, 2016

Frodo said:
Today Great World City shopping mall MC rate is 3.15!

But the Minister of Finance couldn't be bothered and is enjoying his holidays in Peru.

enjoylife77 · Nov 20, 2016

Maybe his big chunk of holdings has already been converted to US$.

DCputeri · Nov 21, 2016

Cimb exchange rate 3.07xx today 21 nov 3pm.

Investor888 · Nov 22, 2016

Err why are your friends worrying? Even if the price drop RM 100k, they still get to enjoy their life in JB. Nope? I got properties in JB and I aint worrying. Can someone please remind me to worry more?

enjoylife77 said:
Looking around what's happening in Malaysia, I can only see RM$ weakness ahead. All my friends are very worried that their properties will depreciate further with little exit route except to default on the loan.

Grago · Nov 22, 2016

Investor888 said:
Err why are your friends worrying? Even if the price drop RM 100k, they still get to enjoy their life in JB. Nope? I got properties in JB and I aint worrying. Can someone please remind me to worry more?

Investor, don't worry, if SG is going to increase population to 10mil :eek:

, where do you think they will go, over here to Johor, more houses/apartments and less costly in terms of SG dollars. :cool:

DCputeri · Nov 22, 2016

Cimb exchange rate 3.0863 today 22 nov 3pm.

snowbird · Nov 22, 2016

Ringgit sinks to one-year low against Singapore dollar

New low @3.1206, reported by CNA this afternoon.
Akan Datang - Another new low coming to this screen soon!

http://www.channelnewsasia.com/news...ear-low-against-singapore-dollar/3298906.html

cow138 · Nov 22, 2016

Wow! That's incredible... Think the intervention is running out of bullets

snowbird · Nov 22, 2016

cow138 said:
Wow! That's incredible... Think the intervention is running out of bullets

First, the Central Bank don't have much bullets and secondly, they are just trying hard to macro manage the RM more than intervention.
The fundamentals are what they need to tackle or rather unable to tackle -
the political instability,
the 1MDB scandal that refuse to go away with foreign investigations still in hot on heels, and
the global oil prices.
And now, combined with the rapid exodus of foreign funds due to Trumps election win, its going to be a perfect storm!

Investor888 · Nov 23, 2016

I am such a happy man recently. My S$200k = RM 600K conversion suddenly become RM 624,000. Extra RM 24,000 for me to top up petrol and pay RM 20/day levy. Lets hope there wont be any jams coming the Dec holidays. Last Year December I still remember the Singapore ICA totally lose the war against traffic jams. Qs start forming right up to the bridge as early as 3:50am because many many Malaysians are flying out from Changi during the holidays. Lets hope ICA learn their lesson!

Malaysia should just build a JBIA in Nusajaya. With the largest Seaport in Melaka and JBIA, Singapore can go fly kites

I better stop now in case people say I am Malaysian.

And base on some logi

cow138 · Nov 23, 2016

snowbird said:
First, the Central Bank don't have much bullets and secondly, they are just trying hard to macro manage the RM more than intervention.
The fundamentals are what they need to tackle or rather unable to tackle -
the political instability,
the 1MDB scandal that refuse to go away with foreign investigations still in hot on heels, and
the global oil prices.
And now, combined with the rapid exodus of foreign funds due to Trumps election win, its going to be a perfect storm!

If that's the case then the ringgit only had one way to go

Exchange Rates for RM

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