ringgit Malaysia drop , how to I change my RM to USD
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 Sep 3 2015, 04:58 PM
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All Stars
24,456 posts Joined: Nov 2010 
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QUOTE(Showtime747 @ Sep 3 2015, 04:09 PM) Can you look at the 52 weeks difference in exchange rate between USD : HKD and maybe you want to re-comment ? those paid in hkd feel as good as those in usd!   crude at 46, usd/rm = 4.245 http://www.bloomberg.com/quote/USDMYR:CUR with a world famous $ scandalized non-functioning gomen busy fighting for themselves but "millions" supporting them, how much will the rm recover? |
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Sep 3 2015, 05:46 PM
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Senior Member
9,336 posts Joined: May 2009
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QUOTE(cherroy @ Sep 3 2015, 04:45 PM) Foreigner buyer come in Malaysia to buy palm oil in Malaysia, they will bring USD to BNM to exchange to RM then pay the palm oil company. |
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Sep 3 2015, 06:28 PM
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Senior Member
10,001 posts Joined: May 2013
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Ringgit falls on concern data to show further reserve depletion
http://www.theedgemarkets.com/my/article/r...serve-depletion Fasten yo seatbelt as BNM will release info on 4/9 |
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Sep 3 2015, 06:37 PM
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Junior Member
535 posts Joined: Aug 2015
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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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Sep 3 2015, 06:41 PM
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Senior Member
10,001 posts Joined: May 2013
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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. If RM50 bil, M'sia .................... |
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Sep 3 2015, 06:45 PM
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All Stars
48,513 posts Joined: Sep 2014 From: REality
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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. 50bil   M'sia already   |
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Sep 3 2015, 06:52 PM
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All Stars
24,382 posts Joined: Feb 2011 
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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. Have you been living under a rock or what? Malaysia's drop is due to trust deficit and other external factors. If you restore the trust deficit, MYR will recover a little. |
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Sep 3 2015, 07:01 PM
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All Stars
24,456 posts Joined: Nov 2010
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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. u r finance minister in the making, congrats! |
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Sep 3 2015, 07:13 PM
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All Stars
24,382 posts Joined: Feb 2011
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QUOTE(AVFAN @ Sep 3 2015, 07:01 PM) u r finance minister in the making, congrats! No no no. Don't worry. Be happy. Everything is OK.  |
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Sep 3 2015, 07:49 PM
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All Stars
10,124 posts Joined: Aug 2007
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QUOTE(cherroy @ Sep 3 2015, 04:45 PM) Yes, it is not consist only USD, but also Yen, Euro etc. How about with China? I thought at one time, Malaysia is suppose to have direct RMB/MYR settlement exchange center and skip USD altogether therefore should not have any detrimental effect. But, recent Yuan move (intentional devaluation against greenbacks) seems to hurt Ringgit more. But majority will be in USD. Because world trade and export always done primary in USD denominated, except business done with Jap (they prefer Yen), and Europe. While the rest of the world generally use USD as settlement medium. Petronas export oil, will receive USD as payment as oil is sold in USD term, so it takes the USD and exchange back to RM, BNM will have USD in the foreign currency reserves. Foreigner buyer come in Malaysia to buy palm oil in Malaysia, they will bring USD to BNM to exchange to RM then pay the palm oil company. Corporate borrowed from overseas in USD and bring back to Malaysia for their corporate funding, then the USD will go to BNM. So, USD is the ultimate important currency in the foreign currency reserves coffer.  This post has been edited by danmooncake: Sep 3 2015, 07:50 PM |
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Sep 3 2015, 07:50 PM
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Senior Member
4,258 posts Joined: Nov 2012
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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. With such shallow and laughable thinking, I can only conclude you are yet another macai |
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Sep 3 2015, 08:24 PM
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Junior Member
208 posts Joined: Aug 2010
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Lately this thread attract a lot of macai with weak argument that insults the intelligent of the average people.
I miss the time when all comments in this thread was pretty much in agreement. |
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Sep 3 2015, 08:46 PM
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All Stars
24,456 posts Joined: Nov 2010
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QUOTE(anudora @ Sep 3 2015, 08:24 PM) Lately this thread attract a lot of macai with weak argument that insults the intelligent of the average people. the result of cgpa 3.85 menteris spewing crap for too long.I miss the time when all comments in this thread was pretty much in agreement. kids learn fast, ya? |
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Sep 3 2015, 09:10 PM
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Junior Member
535 posts Joined: Aug 2015
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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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Sep 3 2015, 09:25 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(danmooncake @ Sep 3 2015, 07:49 PM) How about with China? I thought at one time, Malaysia is suppose to have direct RMB/MYR settlement exchange center and skip USD altogether therefore should not have any detrimental effect. But, recent Yuan move (intentional devaluation against greenbacks) seems to hurt Ringgit more. Yuan is not a international tradable currency, or yet. That's why Yuan still has a long journey to go before become an international currency. Direct settlement exchange has its limitation, as you need to have a direct match and quantity may have limitation. While with USD which is international tradable easily one, you can bring the USD to anywhere to exchange, remit to anywhere or anyone. |
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Sep 3 2015, 09:30 PM
Show posts by this member only | IPv6 | Post
#2236
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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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. Please do not post if you don't know what you are talking about.Ty. At the moment, USD 90 bil is barely enough to fund the short term external debt or in other word able to cover short term external debt at 1x level. RM 50 bil, potential need to look for IMF aid already. This post has been edited by cherroy: Sep 3 2015, 09:30 PM |
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Sep 3 2015, 09:43 PM
Show posts by this member only | IPv6 | Post
#2237
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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USD 90 bil mark is not a dire situation, still has room of comfort as long as the foreign currency reserves is preserved for its primary intention (instead being used in forex market intervention), while still able to register a trade plus and current account surplus in the near future.
But you don't wait until situation worsen only start to worry and react, there is a need to premature cautious about the situation and have plan to counter it. |
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Sep 3 2015, 09:53 PM
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Senior Member
4,258 posts Joined: Nov 2012
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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. Hahaha champion, why use Hong Kong if your argument is like that ? Use Japan, Korea or Taiwan and suddenly Malaysia become champion !  |
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Sep 3 2015, 10:00 PM
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Junior Member
96 posts Joined: Feb 2015
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crude oil doing job right now huhu
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 Sep 3 2015, 11:03 PM
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Validating
1,525 posts Joined: Oct 2012 
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As usual, there are dude that always linked any person to macai, mangali, mca and other names calling when he/she cannot elaborate with facts/ data.
That's why LYN ppls always "sick" , no need to "entertain" these dude and let them "syiok sendiri" . See the data currencies performance against the greenback. http://www.tradingeconomics.com/currencies ==>> Per the above link, RM is drop, but it is not the worst, right? If you don't agree, kindly help to provide your arguments facts/data, and not own conclusion/assumption.  The link got more than 60 different currencies, not only the basket of major currencies. This post has been edited by netmask8: Sep 3 2015, 11:06 PM |
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