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 ringgit Malaysia drop , how to I change my RM to USD

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Showtime747
post Aug 25 2015, 06:55 AM

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Janet cannot raise interest rate in September anymore
Showtime747
post Aug 26 2015, 04:41 PM

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QUOTE(markpsp @ Aug 26 2015, 07:44 AM)
Heys, actually, I've already disposed all my shares early this year. I don't mind not making these few months cause parking everything in PBB's FD is safe and risk free. True enough, market went down by so much. I'm targetting 1k-1.2k in Bursa index.

Propertywise, 2017 will be good to buy, as 2013 was our peak and many of the launches are expected to be completed in 2016. However, I'll have to buy next year, might lose a bit but because I have no choice (due to personal reasons).

Let's just say, I got very strong reason to believe that market go down the next few years. Sorry, can't reveal my sources, but my contacts come from one of the largest investment banks in the world.  tongue.gif

Anyway enjoy the bumpy road downwards. See you guys at 1k-1.2k.
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With your doom and gloom view on RM and Malaysia economy, why do you still consider any investment in RM ?

That's why I am suggesting you putting in your application to migrate. There are many better choices for you
Showtime747
post Aug 26 2015, 09:24 PM

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QUOTE(netmask8 @ Aug 26 2015, 08:32 PM)
U got no rights to ask ppls to migrate, while you are concern and comments here are still referring our beloved country.
Be a role model first on migration plan, and do not post any concern here once u out from this beloved country. WHY u care once u successful in yr plan.Have a great day.
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Hi macai, you again ? tongue.gif

You have no clue what was his comment previously and make a stupid comment not knowing the head and tail. You got to read back what he wrote on 18/8 to understand the context of the whole conversation

You so butthurt about me making fun of you last time until you appear out of nowhere reply me ? tongue.gif
Showtime747
post Aug 27 2015, 05:12 PM

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Surprise surprise !! RM has a good day today rclxms.gif

US$4.2079
S$3.005
AUD3.0032
EUR4.7515
GBP6.516
Showtime747
post Aug 27 2015, 05:55 PM

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QUOTE(neonikson1 @ Aug 27 2015, 05:20 PM)
That's quite a relief, perhaps a short term one.
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Only when the monkeys sort out their dirty linen then RM will recover steadily
Showtime747
post Aug 27 2015, 05:59 PM

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QUOTE(nexona88 @ Aug 27 2015, 05:58 PM)
who?  hmm.gif
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The monkeys tongue.gif
Showtime747
post Aug 28 2015, 07:33 PM

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QUOTE(neonikson1 @ Aug 28 2015, 06:29 PM)
This is what i fear most! MYR depreciated but it still didn't help with export and tourism! So what did we gain? NOTHING!!!!!  cry.gif  cry.gif  cry.gif

http://www.malaysiakini.com/news/310218
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That's why in economic theory maybe it is true, but in practical, far from it
Showtime747
post Aug 30 2015, 05:05 PM

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QUOTE(Mr Gray @ Aug 30 2015, 08:42 AM)
Everybody should really stop this name-calling, it's uncalled for. You disagree with me, argue with fact, don't simply say dummy, stupid whatever.
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Bro I agree that it is uncalled for. And I also often disagree with unker dreamer's style of writing

But on this occasion, I really can't find another better adjective to described what you have said. Unker is just telling the truth
Showtime747
post Aug 31 2015, 11:45 AM

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QUOTE(Ramjade @ Aug 30 2015, 09:03 PM)
Dreamer, what good is holding usd in cash? It won't generate anymore usd. Isn't it better for someone to buy us shares or something or have something which can generate returns in usd?

Maybe you could make a tutorial on say opening a US FD with a US bank from malaysia instead of US FD offered by malaysian banks (that way your money is not stuck in malaysia). That will be more helpful to the average malaysian who does not want to try out shares. If you can do that, I am sure lots of people will be interested.
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If you have lost confidence in malaysian banks, ideally you should open a offshore bank account

But for small time investors, it may not be cost effective/too troublesome/offshore banks reject you. So for share investment in the meantime you can always use local share trading platform to invest in overseas shares. It is denominated in foreign currencies and thus takes care of the RM depreciation concern.

As for FD, there is such unit trust as fixed income fund in RM. Is there fixed income fund for USD or other forex ? Anyway, US FD interest rate is extremely low. Maybe you can research on the local unit trust for US govt bond fund ?
Showtime747
post Aug 31 2015, 11:52 AM

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QUOTE(dreamer101 @ Aug 30 2015, 10:09 PM)


It makes sense for BUMI to invest in ASB due to political reason.  But, for a non-bumi to invest in ASx??

Dreamer
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If you expect malaysia to bankrupt, why would investment in ASB makes sense ? The government has no money to pay back also
Showtime747
post Aug 31 2015, 01:22 PM

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RM still strong today

US$ 4.172
GBP 6.437
EUR 4.697
AUD 2.981
SGD 2.951
CNY 0.656
Showtime747
post Aug 31 2015, 03:09 PM

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QUOTE(AVFAN @ Aug 31 2015, 01:36 PM)
where u get that?

this one shows usd 4.1982...! biggrin.gif
http://www.bloomberg.com/quote/USDMYR:CUR
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xe.com

Ya, now is 4.1945
Showtime747
post Aug 31 2015, 03:11 PM

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QUOTE(nexona88 @ Aug 31 2015, 01:32 PM)
good  rclxms.gif  thumbup.gif

but for how long  sweat.gif
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After 2 hours, now is close to 4.20 again cry.gif
Showtime747
post Aug 31 2015, 03:43 PM

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QUOTE(AVFAN @ Aug 31 2015, 03:41 PM)
bersih over, gomen belittles it.

1mdb, etc. no longer investigated.

bijan and co. in charge with iron grip.

no major variable moving rm.

i think will hanging around 4.20 for some weeks.

might see some significant change with budget 2016 in oct.
but good also... importers, stockists, traders can now go about doing biz at 4.20 without the volatility.

just raise price by 10, 20, 30%. tongue.gif
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Hope you are right. I lost hope on RM. If can stay at this level, very good liao. If drop further, not surprised also tongue.gif
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post Aug 31 2015, 10:22 PM

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QUOTE(dreamer101 @ Aug 31 2015, 09:06 PM)
Showtime747,

ASx will be gone long before ASB.  ASB will be the last to go.  In fact, THE GOVERNMENT may still pay ASB dividend even it is bankrupted due to political reason.

Dreamer
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If ASx is defaulted (gone), there will certainly be a simultaneous "bank run" for ASB as the holders will also be panic. Both funds are ultimately originated from the government. if the government is bankrupt, all their funds will be gone
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post Sep 3 2015, 04:09 PM

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QUOTE(yolldddd @ Sep 3 2015, 12:17 PM)
Just relax guys 4.2 ain't so bad when compared to hkd which is 7.75 to the usd but still hong kong people still get by wonderfully smile.gif
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Can you look at the 52 weeks difference in exchange rate between USD : HKD and maybe you want to re-comment ?
Showtime747
post Sep 3 2015, 07:50 PM

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QUOTE(yolldddd @ Sep 3 2015, 06:37 PM)
As long as the reserve do not fall to rm50bil still got enough reserve to maintain the ringgit till the economy recover.
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doh.gif doh.gif doh.gif

With such shallow and laughable thinking, I can only conclude you are yet another macai
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post Sep 3 2015, 09:53 PM

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QUOTE(yolldddd @ Sep 3 2015, 09:10 PM)
The problem is arguing here who is more inteligent is pointless as nothing will change. Better channel that energy to look for more money like what hong kong people is doing as they exchange rate is 7.75 even worst then us! instead of giving excuse and whining here as it will help nobody.
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Hahaha champion, why use Hong Kong if your argument is like that ? Use Japan, Korea or Taiwan and suddenly Malaysia become champion ! tongue.gif
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post Sep 4 2015, 07:08 AM

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I have leant a lot through many insightful replies from many forummers here in this 100+ pages thread, allowing me to see beyond the numbers like 3.0, 3.6 and 4.2 thumbup.gif

Along the way, we have 2 or 3 forummers who obviously have their own agenda with Macai characteristics and I am glad they are of the minority. I just treat them as the clowns in a circus show tongue.gif

I don't think the RM depreciation will end soon. It has many interesting development waiting for unfolding. We are witnessing history live rclxms.gif
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post Sep 4 2015, 10:34 AM

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QUOTE(Binyamin @ Sep 4 2015, 10:21 AM)
Yeah like a sovereign debt crisis. We will most likely default, life will still go on though not to worry.

Our trouble will be the same reason why Greece got into trouble when they converted their debts to euro when they join the European union.

Just that ours is in USD.
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In all fairness, I think malaysia is in better shape than Greece. We have most of our sovereign debt in RM, not USD (although there are about 30-35% holdings by foreigner) and we still are in charge of our own monetary policy.

Disaster will happen if the manager of our economy continue the same fiscal policy and do not exercise prudence in spending. Over long run, we will have the same fate of Greece. Just that we have a few more monetary tools than Greece to use


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