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

1MDB will honour its obligations on JIT basis 

I remember the news when a hong kong businessman have to wait for people to finish their foods at restaurant so he can pretend to be a client and eat the scrap leftover. Wonderful...

Ringgit falls to RM4.2325 v USD on concern over further reserve depletion

Published: 3 September 2015 12:52 PM

The ringgit continues its decline against the US dollar.  – Reuters file pic, September 3, 2015.

The ringgit extended the week’s losses on concern the erosion of Malaysia’s foreign-exchange reserves will further hurt investor sentiment in an economy reeling from falling oil prices and a political scandal.

The reserve holdings have fallen 19% this year to US$94.5 billion and data on Friday for the last two weeks of August may show the extent of central bank ringgit purchases to prop up Asia’s worst-performing currency this year. Australia & New Zealand Banking Group Ltd sees a figure of around US$92 billion.

Growth in exports may also have slowed in July following June’s rebound from two-months of contraction, according to a Bloomberg survey before tomorrow’s report.

“Any signs of further reserve draw-down or narrowing in the trade balance will hurt sentiment further toward the ringgit,” said Khoon Goh, a strategist at Australia & New Zealand Banking Group in Singapore.
“The dollar’s strength isn’t helping.”

The ringgit fell 0.5% to 4.2325 a dollar as of 10.50am in Kuala Lumpur, adding to yesterday’s 1.1% decline, according to prices from local banks compiled by Bloomberg. It reached a 17-year low of 4.2990 on August 26.

The Bloomberg US Dollar Index, which tracks the greenback versus 10 major currencies, rose 0.1% after gaining 0.3% yesterday.

- See more at: http://www.themalaysianinsider.com/malaysi...h.wa0i5DMc.dpuf

Just in time ? I wish I could say that when dealing with banks on my loans !

Any support from government for the repayment of debt is going to be very badly received by investors and the public.

tis time I think BNM reserve should be below 90bil mark.. looking at the current situation 

My guess would be dropping about as same as last 2 week ago, aka a drop of about USD 2 bil, so should stay above 90 mark.
As there is no sign of strong intervention from BNM, while equities outflow generally has been receding for the last 2 weeks.

If below USD 90 bil, it may hurt the RM sentiment further.

speaking of which, the last when they announce the reserve... the RM/USD conversion were using a rate of 3.77.....

All country have such beggar. Malaysia too and a lot pf rich hk people and they don't whine about the exchange rate and give excuses but instead channel their energy to making more money that why hk people are so succesful when compared to malaysian

sooner or later some random Joe will start comparing with zimbabwe.   

Incorrect
As per BNM, 4.0810 @ 14/8 n 4.2000 @ 28/8

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

speaking of which, the last when they announce the reserve... the RM/USD conversion were using a rate of 3.77.....

U use that rate and try tally their USD vs Ringgit figures

Foreign currency reserves means how much USD that BNM has in the coffer.
How much the USD translates into RM due to exchange rate is irrelevant

or in other word,
Foreign currency reserves is always being measured in term of USD only, because you need to pay import bill in term of USD, pay external debt in USD.

When (if) BNM intervenes in the forex market to "defend" the RM aka buy RM with USD, means they need to sell their USD to RM seller, by then lesser USD in their coffer.

I dont think our foreign currency reserve consist of only USD