Very soon I guess 😁✌

Highest so far


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BNM USD/MYR closing rate @ 12 noon is 4.1855
Awaiting 4.20 to clear position

that was only 4 months ago and everyone thought 3.7x was too much.

no doubt u will get there, maybe today.

I am quite immune to the drop already. Like it is natural

Even drop to 4.5 now is like nothing to me. Like "of course it would....why so surprised ?" kind of reaction

.. crude going below 40 very soon
.. gas prices following suit with a 6-month lag
.. cpo not much better
.. mgs yield now knocking at 4.3x%.
.. same same gomen spending
.. same same politicians doing same same dance

4.5 may be too generous.

The international reserves of Bank Negara Malaysia (BNM) fell further to RM356.4 billion (US$94.5 billion) as at Aug 14, 2015 from RM364.7 billion (US$96.7 billion) as at July 31, 2015.

The central bank's foreign exchange reserves dropped below US$100 billion last month for the first time since 2010.

The reserves position is sufficient to finance 7.5 months of retained imports and is 1.0 time the short-term external debt.

This post has been edited by nexona88: Aug 21 2015, 06:09 PM

better than i expected.

does look like bnm stopped intervening.

will see how the market will take it.

Najib’s ringgit call gets backing
http://www.nst.com.my/node/97108

Will GLC follow instruction?

Crude around 40. Almost reduced 60% from all time high

But our RON95 reduced less than 30 cents.

So, 4.5 may not reachable, as we are generously subsidizing our RM now.

well market would still take it as bad indication & the MYR continue weakening

more like some petrol tax to fund the budget deficit and all the "u-know-what" goodies.

i will not be surprised if some petrol or fuel tax will emerge in 2016 budget.

crude oil price is down now. When it rises back to $90-100 level, at 4.5 exchange rate, I am guessing Ron95 will be close to RM3/l. If the administration cannot afford to bring back subsidy, then high inflation can occur. Just hope that by that time, petronas can give more dividend to subsidize the retail petrol

Retail diesel is 1.95. Industrial diesel now can get around 1.55. We are already paying "petrol tax" quietly

i doubt petrol subsidy will ever come back.
with so many holes, u can make a guess where any "extra" will go first.

"complain not, you have been paying fuel tax, now it's official, ok?!"

In order to attract FDI to M'sia, our exchange rate must b attractive
At wat Level of USD/MYR (now 4.1815) will entice tis group of Investors?

When Petrolnas export, we export in USD, when convert back to RM at 4.16, it is very favorable.

That if got people want to buy expensive crude, now our crude oil got price but no market.

Crude oil is a commodity that everyone will grab. If really no market, then should sell to us even cheaper price.

That if petronas willing to sell cheap Over manpower, over waste on white elephant projects that is preventing Petronas to sell cheap.

not so much about 4.0 or 4.5... foreign investors will only put the money if they see rm strengthening, not weakening.

imagine you buy a prop at rm1 mil at 4.0, then it appreciates to 1.1mil but ex rate is 4.5, u lose!

at this time, there are no signs or major reasons pointing to strengthening besides hot air from politicians.

when they stop yaking and do some real work, the change will come.

visit venezuela. you can get black market crude for $10 a barrel, people desperate for $ cash.

oil is no different from any commodity. too much supply, not enough demand, it is just lying there, low price.