Why is SGD dropping rapidly against MYR these 2 days??

[Coolsaint77]

Anyone has any insight?

SGD remains strong vs Euro and USD... hence the drop is purely between SGD and MYR. Is Malaysian govt pulling funds out of SG to protest against Wikileaks? Or is the SG govt pouring money into Malaysia for some investments?

 

[po2wq]

quite stable la ...

mayb bcos a lot of sporeans going msia 4 holidays 2 escape from suffocation ... so higher demand 4 myr lor! ...

 

[halsey02]

So that the uncles & aunties from Malaysia can come to SINgapore to play at the caSINoeS.

The lower the rates the more SINg dollarS they get...when the holidays are over, they make the way back the SINg dollarS will appreciate aganst the RM.

 

[Coolsaint77]

quite stable la ...

mayb bcos a lot of sporeans going msia 4 holidays 2 escape from suffocation ... so higher demand 4 myr lor! ...

Ok its now back to 2.38+... earlier today it was 2.37+
It was hovering between 2.39+ to 2.40+ in the last few days
I'm just worried if it is MAS deliberate move to allow depreciation i need to act fast to hedge
You know these policy making guys, once they decide on a direction it can move quite a lot

 

[Hans168]

Anyone has any insight?

SGD remains strong vs Euro and USD... hence the drop is purely between SGD and MYR. Is Malaysian govt pulling funds out of SG to protest against Wikileaks? Or is the SG govt pouring money into Malaysia for some investments?

Their bank giving 3.5% on FD........... ours not.
So many S$ migrated there

 

[johnny333]

Their bank giving 3.5% on FD........... ours not.
So many S$ migrated there

Citibank Spore is offering 4.2% if you deposite in Aus$