Wait for next week.
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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
Next year budget announcement:
1) GST 6%
2) sugar subsidy cut 14% (current cut $2.5 -> $2.84)
3) petrol subsidy cut 10% (current cut $2.1 -> $2.3)
Avg inflation 10%.
To discourage local purchasing China/Thai/Indo produce and attract foreign investment/consumption/tourist$$, expect rm to weaken 10% (current $2.56 -> $2.8)
Can wait until Apr'15 (or $2.8) best
Next year budget announcement:
1) GST 6%
2) sugar subsidy cut 14% (current cut $2.5 -> $2.84)
3) petrol subsidy cut 10% (current cut $2.1 -> $2.3)
Avg inflation 10%.
To discourage local purchasing China/Thai/Indo produce and attract foreign investment/consumption/tourist$$, expect rm to weaken 10% (current $2.56 -> $2.8)
Can wait until Apr'15 (or $2.8) best
Possible for interest rate to go up to fight inflation. Then foreign $ will flow in and strengthen MYR. This might weaken local buying power of property n together with higher interest rate, reduce property price growth rate.
Next year budget announcement:
1) GST 6%
2) sugar subsidy cut 14% (current cut $2.5 -> $2.84)
3) petrol subsidy cut 10% (current cut $2.1 -> $2.3)
Avg inflation 10%.
To discourage local purchasing China/Thai/Indo produce and attract foreign investment/consumption/tourist$$, expect rm to weaken 10% (current $2.56 -> $2.8)
Can wait until Apr'15 (or $2.8) best
Does it mean if I buy a house now, I will have another 10percent discount come 2016 when I need to pay the next progressive payment just by capitalising on the exchange rate? Mai tu Liao.
Up interest rate to rein in on inflation, but inevitably also on growth is not desirable towards their fast-track 2020/2025 goal. More weightage likely on tweaking policies + easing of ringgit than upping interest rate.
You will get your 10% exchange rate discount but surrender your discount soon if rm ease further
Cash 2.5805 @ arcade.
TT 2.577/58.
Fantastic rate. Our money is getting bigger, though the loan interest rate is also climbing......hehe.....
Sim Lim Square at 2.57 for S$500 notes and above. Effective this afternoon at about 3.30 pm when I was there.
Got some. Malaysia bank is offering 9-mth FD at 4.15%p.a.
<a href="http://s361.photobucket.com/user/genehifi/media/imagejpg1-2.jpg.html" target="_blank"><img src="http://i361.photobucket.com/albums/oo53/genehifi/imagejpg1-2.jpg" border="0" alt=" photo imagejpg1-2.jpg"/></a>
Found this online.
Ringgit to remain weak this year
By Dinesh Immanuel
Friday, 14 Nov 2014, 12:11 AM
The ringgit slipped to its weakest level this year at 3.35 to the dollar on Nov 11 despite decent factory output data for September. The last time the ringgit dropped to this level was on Jan 30 this year. Economists say the main reason for the ringgit’s decline is the reversal of carry trades and outflow of foreign funds.
In November alone, the ringgit had slipped 1.74% against the greenback. Calculating from the ringgit’s strongest level this year at 3.16 to the USD on Aug 27, it has slipped a staggering 6.34% as of Nov 11.
Making things worse is that key regional currencies appear to be performing better than the ringgit.
Key Asean currencies, too, appear to be affected by current global developments. The Singapore dollar, Thailand’s baht, and Indonesia’s rupiah all appear to be trading at year-lows or very near their weakest levels this year. The Singapore dollar slipped a smaller 4.79% from its strongest 2014 level on July 23 to trade at 1.30 to the USD by Nov 6. It has lost 0.82% so far this month.
Global currencies have weakened after the US Federal Reserve recently announced it was cutting back on its quantitative easing (QE) programme, AmResearch economist Patricia Oh explains.
“Most regional currencies slid against the dollar since the US Fed ended its QE programme in October.
Nonetheless, the ringgit has been relatively weaker vis-a-vis most major currencies since then,” she says.
http://www.focusmalaysia.my/Markets/Ringgit to remain weak this year#sthash.gLc4THdw.dpuf
By Dinesh Immanuel
Friday, 14 Nov 2014, 12:11 AM
The ringgit slipped to its weakest level this year at 3.35 to the dollar on Nov 11 despite decent factory output data for September. The last time the ringgit dropped to this level was on Jan 30 this year. Economists say the main reason for the ringgit’s decline is the reversal of carry trades and outflow of foreign funds.
In November alone, the ringgit had slipped 1.74% against the greenback. Calculating from the ringgit’s strongest level this year at 3.16 to the USD on Aug 27, it has slipped a staggering 6.34% as of Nov 11.
Making things worse is that key regional currencies appear to be performing better than the ringgit.
Key Asean currencies, too, appear to be affected by current global developments. The Singapore dollar, Thailand’s baht, and Indonesia’s rupiah all appear to be trading at year-lows or very near their weakest levels this year. The Singapore dollar slipped a smaller 4.79% from its strongest 2014 level on July 23 to trade at 1.30 to the USD by Nov 6. It has lost 0.82% so far this month.
Global currencies have weakened after the US Federal Reserve recently announced it was cutting back on its quantitative easing (QE) programme, AmResearch economist Patricia Oh explains.
“Most regional currencies slid against the dollar since the US Fed ended its QE programme in October.
Nonetheless, the ringgit has been relatively weaker vis-a-vis most major currencies since then,” she says.
http://www.focusmalaysia.my/Markets/Ringgit to remain weak this year#sthash.gLc4THdw.dpuf
RM falls to 4.5 years low.
http://www.straitstimes.com/news/bu...ringgit-falls-four-and-half-year-low-20141119
http://www.straitstimes.com/news/bu...ringgit-falls-four-and-half-year-low-20141119
Just changed S$200 at 2.575 at Woodlands Centre. Arcade's rate should be 2.58.....
That's very good rate. Mind sharing on how to do that? Any contact?
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