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

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Showtime747
post Aug 22 2015, 10:42 AM

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QUOTE(nexona88 @ Aug 22 2015, 09:50 AM)
I doubt there's such people in UxxO who have such good qualities.. all I see songlap kaki only

unless they take from "outside" like from corporate world nod.gif
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Ku Li could be the better one among the worst
Showtime747
post Aug 22 2015, 10:53 AM

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QUOTE(CKKwan @ Aug 21 2015, 07:44 PM)
When Petrolnas export, we export in USD, when convert back to RM at 4.16, it is very favorable.
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Ya. That would go straight into government coffer. Very Favorable to government.

But if the subsidy is not reintroduced (which I think so), we will pay market rate which will be very high. Inflation will set in.

So, RM depreciation is not a good thing for average consumer. Only small number of people benefits from RM depreciation
dreamer101
post Aug 22 2015, 10:58 AM

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QUOTE(AVFAN @ Aug 22 2015, 08:55 AM)
i think it will about how smooth the change is and who will take pm and fin min posts.

market will likely get jittery at first, no good for rm.

and if the replacement is one with poor reputation and holding 2 jobs again, it won't be taken well with investors, things will get worse.

if the 2 jobs are taken by 2 people wih fair-good reputation and well versed in finance, confidence will soar, will be very positive for investors and rm.
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AVFAN,

You do know that Petronas is under control of the finance minister. It is not under control of the prime minister. So, if the pm is not the finance minister, he / she will have no control of Petronas and Petronas does not have to report anything to him / her.

Now, a PM with no control of Petronas aka number #1 source of THE GOVERNMENT's money is powerless.

Dreamer
AVFAN
post Aug 22 2015, 11:25 AM

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QUOTE(dreamer101 @ Aug 22 2015, 10:58 AM)
Now, a PM with no control of Petronas aka number #1 source of THE GOVERNMENT's money is powerless.

Dreamer
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petronas may become irrelevant.
http://www.theantdaily.com/Main/Petronas-c...oil-price-slump

better hv direct control on all pension funds! tongue.gif
wil-i-am
post Aug 22 2015, 01:09 PM

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‘Out of the box’ approach needed
http://www.thestar.com.my/Business/Busines...eded/?style=biz

Zeti is deliberating which options is better for M'sia? hmm.gif
ikanbilis
post Aug 22 2015, 04:04 PM

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QUOTE(AVFAN @ Aug 22 2015, 11:25 AM)
petronas may become irrelevant.
http://www.theantdaily.com/Main/Petronas-c...oil-price-slump

better hv direct control on all pension funds! tongue.gif
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Yeah...songlap more money from the pension funds...




neonikson1
post Aug 22 2015, 06:34 PM

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QUOTE(TruthHurts @ Aug 22 2015, 08:28 AM)
Time to switch currency to SGD ... Bought AUD, got some profit ..now going to switch to SGD since it's catching up to AUD.
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SDG vs USD also dropped 11%. hmm.gif
AVFAN
post Aug 22 2015, 06:50 PM

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QUOTE(neonikson1 @ Aug 22 2015, 06:34 PM)
SDG vs USD also dropped 11%.  hmm.gif
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i just took a fresh look at the chart after putting in all the variables.
http://www.bloomberg.com/quote/USDMYR:CUR
u can pair as many as u like.

from that bloomberg fx chart, in the last 1 yr, against usd, from best to worst among the selected currencies:

chinese renminbi ("pegged", post devaluation)
thai baht
sing dollar
euro
japanese yen
korean won
indon rupiah
new zealand dollar
aussie dollar
malaysian ringgit

it is curious how come the thai baht is so strong? hmm.gif
big beneficiary of cheap oil?
thai exports exploding? (yes, i know and have visited some monster size rubber glove and food factories there)
bigger and bigger tourism $?

This post has been edited by AVFAN: Aug 22 2015, 07:01 PM
langstrasse
post Aug 22 2015, 08:10 PM

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QUOTE(AVFAN @ Aug 22 2015, 06:50 PM)
i just took a fresh look at the chart after putting in all the variables.
http://www.bloomberg.com/quote/USDMYR:CUR
u can pair as many as u like.

from that bloomberg fx chart, in the last 1 yr, against usd, from best to worst among the selected currencies:

chinese renminbi ("pegged", post devaluation)
thai baht
sing dollar
euro
japanese yen
korean won
indon rupiah
new zealand dollar
aussie dollar
malaysian ringgit

it is curious how come the thai baht is so strong? hmm.gif
big beneficiary of cheap oil?
thai exports exploding? (yes, i know and have visited some monster size rubber glove and food factories there)
bigger and bigger tourism $?
*
Perhaps their economy is not that dependent on oil and gas/commodity related revenue ? hmm.gif
Showtime747
post Aug 22 2015, 09:10 PM

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QUOTE(AVFAN @ Aug 22 2015, 06:50 PM)
i just took a fresh look at the chart after putting in all the variables.
http://www.bloomberg.com/quote/USDMYR:CUR
u can pair as many as u like.

from that bloomberg fx chart, in the last 1 yr, against usd, from best to worst among the selected currencies:

chinese renminbi ("pegged", post devaluation)
thai baht
sing dollar
euro
japanese yen
korean won
indon rupiah
new zealand dollar
aussie dollar
malaysian ringgit

it is curious how come the thai baht is so strong? hmm.gif
big beneficiary of cheap oil?
thai exports exploding? (yes, i know and have visited some monster size rubber glove and food factories there)
bigger and bigger tourism $?
*
1 year difference

USD/HKD 0.03%
USD/RMB 3.8%
USD/GBP 5.6%
USD/TWD 8.9%
USD/THB 11.8%
USD/SGD 12.7%
USD/JPY 17.4%
UDS/KRW 17.4%
USD/Eur 16.3%
USD/INR 19.4%
USD/CAD 20.5%
USD/NZD 25.8%
USD/AUD 27.3%
USD/MYR 31.9%
USD/RUB 92.6%

On Thailand, I think it is the perception and confidence it commands. Despite military coup, investors have more confidence in the army than a democratically elected but corrupt Thaksin government.

QUOTE
The Bank of Thailand has likely intervened at times to keep the baht stronger to try to avert capital outflows amid concerns about an expected U.S. Federal Reserve rate increase, said Charl Kengchon, managing director at Kasikorn Research. Such a move by the Fed could spark fund outflows from emerging markets such as Thailand, where bondholdings by overseas investors total as much as 600 billion baht ($18.38 billion), added Mr. Charl.

The country’s current-account surplus and large holdings of U.S. dollars have contributed to the baht’s relative strength in the region. The Thai central bank’s reserves of foreign currency declined to $155.4 billion by the end of January compared with $166.8 billion in January of last year, according to the Bank of Thailand.


http://www.wsj.com/articles/thailand-expor...ency-1423660862

This post has been edited by Showtime747: Aug 22 2015, 10:17 PM
AVFAN
post Aug 22 2015, 09:55 PM

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QUOTE(Showtime747 @ Aug 22 2015, 09:10 PM)
1 year difference

USD/RMB 3.8%
USD/GBP 5.6%
USD/TWD 8.9%
USD/THB 11.8%
USD/SGD 12.7%
USD/JPY 17.4%
UDS/KRW 17.4%
USD/Eur 16.3%
USD/INR 19.4%
USD/CAD 20.5%
USD/NZD 25.8%
USD/AUD 27.3%
USD/MYR 31.9%

On Thailand, I think it is the perception and confidence it commands. Despite military coup, investors have more confidence in the army than a democratically elected but corrupt Thaksin government. 
http://www.wsj.com/articles/thailand-expor...ency-1423660862
*
We seem to be quite good with "bottoms"! tongue.gif

Thailand... Better the exporters complain rather than the rest of the people cry and suffer.
neonikson1
post Aug 22 2015, 10:05 PM

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QUOTE(AVFAN @ Aug 22 2015, 09:55 PM)
We seem to be quite good with "bottoms"! tongue.gif

Thailand... Better the exporters complain rather than the rest of the people cry and suffer.
*
Yeah... We are No 1, ranked from the bottom!


Showtime747
post Aug 22 2015, 10:07 PM

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QUOTE(AVFAN @ Aug 22 2015, 09:55 PM)
We seem to be quite good with "bottoms"! tongue.gif

Thailand... Better the exporters complain rather than the rest of the people cry and suffer.
*
I am so proud of our leaders thumbup.gif

On the data above, we missed out HKD which performed even better than CNY. Only 0.03%. On par with USD ! Hong Kong dollar is #1
neonikson1
post Aug 22 2015, 10:15 PM

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QUOTE(Showtime747 @ Aug 22 2015, 10:07 PM)
I am so proud of our leaders  thumbup.gif

On the data above, we missed out HKD which performed even better than CNY. Only 0.03%. On par with USD ! Hong Kong dollar is #1
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Which means RM has also depreciated greatly -against hkd! That sucks!
Showtime747
post Aug 22 2015, 10:16 PM

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QUOTE(neonikson1 @ Aug 22 2015, 10:05 PM)
Yeah... We are No 1, ranked from the bottom!
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No lah, there are countries worse than us, like Russian ruble

You think easy to be number 1 (even from bottom) ? It takes the courage to start a war to be number 1. Our leaders are "good", but not that "great" tongue.gif
neonikson1
post Aug 22 2015, 10:24 PM

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QUOTE(Showtime747 @ Aug 22 2015, 10:16 PM)
No lah, there are countries worse than us, like Russian ruble

You think easy to be number 1 (even from bottom) ? It takes the courage to start a war to be number 1. Our leaders are "good", but not that "great"  tongue.gif
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Ai... We are always a mediocre, not the best n not the worst...
AVFAN
post Aug 22 2015, 10:53 PM

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QUOTE(Showtime747 @ Aug 22 2015, 10:07 PM)
I am so proud of our leaders  thumbup.gif

On the data above, we missed out HKD which performed even better than CNY. Only 0.03%. On par with USD ! Hong Kong dollar is #1
*
HKD is pegged to USD at 7.75, won't change unless repeg.

Brunei dollar is pegged 1 to 1 to SGD, never change with SGD as well.

Stronger currency, few people talk, less in the news.

Weak one, a lot of talk... media talk, bankers talk, politicians talk a lot.

This post has been edited by AVFAN: Aug 22 2015, 10:59 PM
TruthHurts
post Aug 23 2015, 06:27 AM

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QUOTE(neonikson1 @ Aug 22 2015, 06:34 PM)
SDG vs USD also dropped 11%.  hmm.gif
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RM is free falling till when also we all don't know .. so for me .. it's better to get currency that is stable.. I go SGD over USD for this at the moment.
danmooncake
post Aug 23 2015, 07:02 AM

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It was 3 years ago, around end of 2011, some M'sian politicians were boasting how strong the Ringgit were (1 USD = RM2.95), and people are dumping their foreign assets to invest in Malaysia, Malaysia has the strongest economy among ASEAN countries, they were pissing at US Fed for QE and saying US is heading into 2nd dip worst than 2009 because Obama's policy isn't work, millions of Americans are out of jobs, many Malaysians were returning to Malaysia - blah - blah.

Fast forward today... now they realized they were wrong. tongue.gif


netmask8
post Aug 23 2015, 09:52 AM

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QUOTE(Showtime747 @ Aug 22 2015, 09:10 PM)
1 year difference

USD/HKD 0.03%
USD/RMB 3.8%
USD/GBP 5.6%
USD/TWD 8.9%
USD/THB 11.8%
USD/SGD 12.7%
USD/JPY 17.4%
UDS/KRW 17.4%
USD/Eur 16.3%
USD/INR 19.4%
USD/CAD 20.5%
USD/NZD 25.8%
USD/AUD 27.3%
USD/MYR 31.9%
USD/RUB  92.6%

On Thailand, I think it is the perception and confidence it commands. Despite military coup, investors have more confidence in the army than a democratically elected but corrupt Thaksin government. 
http://www.wsj.com/articles/thailand-expor...ency-1423660862
*
Major currencies (India, Canada, NZ, Australia) also dropped against strengthening greenback. It is a global issue, as USA FED going to hike 1st interest rate in 9 years. So, don't ever trust 100% photoshop EDIT u saw in social networking, ok?
Be rational and critical thinking mind. Have a great day.

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