FX Alert: SGD nears 52-weeks low against Ringgit

[Runifyouhaveto]

Spot SGDMYR is 2.536 now

52wk Range: 2.5249 - 2.6357

 

[Cerebral]

Spot SGDMYR is 2.536 now

52wk Range: 2.5249 - 2.6357

Any ideas? I was wondering too.... my suppliers all complaining

 

[lifeafter41]

Spot SGDMYR is 2.536 now

52wk Range: 2.5249 - 2.6357

What if it goes to 2.3, then 2.0

 

[Runifyouhaveto]

Any ideas? I was wondering too.... my suppliers all complaining

Certainly not because of toll rate increment :p



Malaysia posted 6.4% Q2 growth
http://www.gulf-times.com/eco.-bus. news/256/details/404366/malaysia-posts-64%-q2-growth
Singapore 2.4% , 0.1% if seasonally adjusted
http://www.channelnewsasia.com/news/singapore/singapore-economy-grew-2/1307652.html

Of course Najib hiked rates in July. He hinted one more round soon.

 

[Runifyouhaveto]

What if it goes to 2.3, then 2.0

That translates to FX gain for our Iskandar property buyers.

 

[lifeafter41]

Any ideas? I was wondering too.... my suppliers all complaining

Did your suppliers complain when it went up?.

 

[Cerebral]

Did your suppliers complain when it went up?.

You say leh

 

[lifeafter41]

That translates to FX gain for our Iskandar property buyers.

Or loss if they have yet to make payment, only initial down.
The thoughts is those gain on capital appreciation has already been made.

Malaysian has been saying it is crazy to be paying more then RM1k+/psf.
More of the greater fool theory.

 

[Cerebral]

Najib hiking rates to manage inflation?

 

[Runifyouhaveto]

Or loss if they have yet to make payment, only initial down.

yes, well said.

 

[Runifyouhaveto]

Najib hiking rates to manage inflation?

Bloomberg: Singapore Dollar’s Losses to Ringgit Seen Widening - 9 min ago
http://www.bloomberg.com/news/2014-...es-to-ringgit-seen-widening-asean-credit.html


Singapore uses the exchange rate to guide monetary policy rather than interest rates. The Monetary Authority of Singapore may allow more weakness after data yesterday showed non-oil exports contracted for a third month in July, Pepper said.

In what is likely to support Malaysia’s currency further, one-year interest-rate swaps have climbed to 3.77 percent, extending the gap over the central bank’s 3.25 percent overnight policy rate, which Zeti increased in July for the first time since 2011.

“There is still potential for the ringgit to appreciate against the Singapore dollar,” Suresh Kumar Ramanathan, a regional currency strategist in Kuala Lumpur at CIMB Investment Bank Bhd., said in an Aug. 14 phone interview. “There’s a high chance Bank Negara will raise policy rates by another 25 basis points in September and that could provide the ringgit with further strength and overshoot 2.5 per Singapore dollar.”

 

[Runifyouhaveto]

Spot SGDMYR is 2.536 now

52wk Range: 2.5249 - 2.6357

Gentlemen, we just hit 2.5249 a moment ago - 12mth Low

 

[greenies]

That translates to FX gain for our Iskandar property buyers.

In opposite, Sinkies to pay in MR incur FX loss.

 

[Runifyouhaveto]

In opposite, Sinkies to pay in MR incur FX loss.

If they only take a small loan or no loan on iskandar property = FX gain?
If they have >50% outstanding loan = FX loss?