Do you guys think is good to keep some AUD which is about 1:1 with SGD or even lower?

http://www.xe.com/currencycharts/?from=AUD&to=SGD&view=5Y

not to worries I think bank negara will make sure it won't go beyond 4.3 after all we still have a lot of foreign reserves.

going up, get bronze medal.

going down, always gold medal.

exports and tourist $ surely not working.



crude price likely to dive further, so rm will probably weaken a bit more in the coming days, say 4.25-4.28.

If you are interested to know the effects causing RM to fall, I can share with you the powerpoint slide(data by independent analyst). Pls PM me your email.
*Note: may not have the direct answer to your question above.

I will say the rate they convert on the business day. Your TT may arrive at the bank after banking hours, no? Also, please take into account for compliance team to check the source and reason of your TT.(especially after the infamous news of billions ended in personal account).
For clarification, you can always call the customer service or visit the branch

what's the reason you want to keep some AUD?

do you mean BNM will buy ringgit?

thanks, but no need.



now, this kind of int'l attention may knock the rm a bit more tmrw:

1.00 USD = 4.21 MYR

1.00 SGD = 2.97 MYR

there's also the Fitch downgrade warning..but anyone know when Fitch will announce the new 'grade'?

fitch?

well, moody is not optimistic!

quite polite, but u know what they r really saying...

Due to weakening ringgit, I've seen lots of people queuing up at money changers like supermarket. I'm curious to know, what lyn members here do besides looking at the exchange rate board everyday.

I also not sure why people are changing the money. If it was 3.5 then maybe still worth it. Anyway my guess is it probally won't go to 4.3 as BN have quite a lot of foreign reserve to push it back down so relax guys.

Not true. Malaysia only have Rm90+b and bnm burned through rm10+b in one month trying to defend the RM. Malaysia needs foreign reserve or else trade cannot proceed and they cannot use up the reserves trying to defend the RM.

So you do the maths and see burning through rm10b /month trying to defend the RM or trying to keep the economy alive. You don't need to be a genius to see how bnm will work. Look at China. How much foreign reserve they burn trying to defend the yuan? And they stop when their reserve drop to usd300b.

Wakeup. BNM reserve is limited.

Or maybe as dreamer said, "Don't worry. Everything is OK. Be happy"

This post has been edited by Ramjade: Sep 2 2015, 08:56 PM

The reserve is in usd, not myr. Seek uncle google help, using keywords to go to bnm website. Thanks

Yes reserve is in usd. Sorry about the mistake. The main point is they burn through 10b of reserve in a month just trying to defend the RM. Left with 90+b.

Keep in mind, bnm is not bottomless pit. They need the reserve for trade to commenced. How much more reserve you think they can burn to defend the RM?


This post has been edited by Ramjade: Sep 2 2015, 09:11 PM

Foreign currency reserves is not for "defend" your currency.
It is used to fund the short term external trade and import bill.

USD90 bil is not "a lot" if you look at how USD10 bil was gone within a month plus period when there was rumour of BNM "defend" RM at RM3.80 level.

So BNM needs to be prudent how to use the foreign currency reserves.

This post has been edited by cherroy: Sep 2 2015, 09:19 PM

That's what I am saying. People looked usd90b as a lot but when you see that they can burn through usd10b in one month, you realise that usd90b is not enough.

7 months they say, dont worry!

At USD 90 bil although enough to fund the import bill for 7 months plus, it is only enough to cover the short term debt at 1x, aka in other word, you need the USD90 bil to pay for those short term debt which is going to due within a year time if there is no refinancing taking place to repay those debt (normally debt is refinanced in ordinary time).

With barely enough to cover the short term debt, you don't mess around with the precious foreign currency reserves.

No worry as everything can b settle behind the scene

reserves usd96 billion...

swiss ubs bank calls it "increasingly meagre"!
http://www.freemalaysiatoday.com/category/...4242#f16bafd7cc


anyone who thinks some reserves will be enough, read below. if i read it right, it is about a scenario saying many countries' reserves have evaporated defending their currencies, incl china and russia. quantitative easing is over, here comes quantitative tightening. soon, more outflows.... either u raise interest rates or yr currency goes downhill further.

for emerging markets, it's the result of low commodities prices, cheap debt abused and wasted, foreign inflows not used productively, no room to maneuver, etc...

tough times ahead, "don't worry" may not be enough.



This post has been edited by AVFAN: Sep 2 2015, 10:10 PM

Zeti said BNM won't intervene