ringgit Malaysia drop , how to I change my RM to USD
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 Sep 4 2015, 06:52 PM
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All Stars
48,538 posts Joined: Sep 2014 From: REality 
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QUOTE(Hansel @ Sep 4 2015, 06:48 PM) Yeah, a small victory to encourage us not to worry too much,...   QUOTE(AVFAN @ Sep 4 2015, 06:50 PM)  eh, such news very hard to come by, at least a bit of celebration!  usd/rm 4.256  |
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Sep 4 2015, 07:00 PM
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Senior Member
9,361 posts Joined: Aug 2010
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QUOTE(nexona88 @ Sep 4 2015, 06:52 PM) small victory / a bit of celebration but for how long? next one could be bad news Right,...  |
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Sep 4 2015, 07:03 PM
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All Stars
24,467 posts Joined: Nov 2010
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QUOTE(Hansel @ Sep 4 2015, 06:51 PM) After the Int'l Reserves ann't this evening, it looks like the foreign funds have slowed down the exodus. yes, mgs 10 yr yield not rising further for now, closed at 4.20%.http://www.bnm.gov.my/index.php?tpl=govtsecuritiesyield 4.25-4.30 may be the "right and stable" range for a while. This post has been edited by AVFAN: Sep 4 2015, 07:04 PM |
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Sep 4 2015, 07:08 PM
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Senior Member
9,361 posts Joined: Aug 2010
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QUOTE(AVFAN @ Sep 4 2015, 07:03 PM) yes, mgs 10 yr yield not rising further for now, closed at 4.20%. Good,... this confirms my point. Thank you. http://www.bnm.gov.my/index.php?tpl=govtsecuritiesyield 4.25-4.30 may be the "right and stable" range for a while. We must try to read and interpret the meaning of the numbers accurately. MGS yield not increasing means bondholders not selling means bond prices did not drop further means bondholders NOT RUNNING AWAY ! |
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Sep 4 2015, 07:12 PM
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All Stars
24,467 posts Joined: Nov 2010
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QUOTE(Hansel @ Sep 4 2015, 07:08 PM) We must try to read and interpret the meaning of the numbers accurately. MGS yield not increasing means bondholders not selling means bond prices did not drop further means bondholders NOT RUNNING AWAY ! now... what if gomen issues another rm50bil in the coming year to deal with deficit?budget 2016 coming in oct... |
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Sep 4 2015, 07:19 PM
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Senior Member
9,361 posts Joined: Aug 2010
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QUOTE(AVFAN @ Sep 4 2015, 07:12 PM) now... what if gomen issues another rm50bil in the coming year to deal with deficit? Yes, I thought we can start answering 'Yol' later, but since AV has initiated this, that's right - what about the debts that we have currently, and the expenses that we will soon be incurring to handle the budget deficits ?budget 2016 coming in oct... We are really contented with comparing between 'going down' and 'staying-put'. ... |
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Sep 4 2015, 08:54 PM
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Junior Member
96 posts Joined: Feb 2015
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Sep 4 2015, 08:59 PM
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Junior Member
208 posts Joined: Aug 2010 
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QUOTE(nexona88 @ Sep 4 2015, 06:43 PM) u see The Star latest news wow. rise 1.3b. not bad.  Bank Negara international reserves up RM1.3b as at Aug 28 http://www.thestar.com.my/Business/Busines...g-28/?style=biz tonight 8pm news headline wor   |
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Sep 4 2015, 08:59 PM
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Elite
15,855 posts Joined: Jan 2003
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Folks,
Come on.. This is a good temporary stop for people to get money out before the next drop... Think rationally. 1) Is THE GOVERNMENT going to spend a lot less or spend a lot more?? Even at usual pace, it will overspend 40 to 50 billions more per year. Due to political reason, THE GOVERNMENT will spend even more than usual. 2) Will Petronas give THE GOVERNMENT more money?? Petronas itself has cash flow problem. Oil price has to go up and stay up for a long time before Petronas can fix its cash flow problem. 3) Banks had started their lay off. This should tell you where they think how the economy will go. The worse is yet to come... Dreamer |
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Sep 4 2015, 09:03 PM
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All Stars
48,538 posts Joined: Sep 2014 From: REality
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QUOTE(anudora @ Sep 4 2015, 08:59 PM) wow. rise 1.3b. not bad. it's temporary only.. next one could be bad  |
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Sep 4 2015, 09:10 PM
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Junior Member
96 posts Joined: Feb 2015
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usdmyr up after NFP
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Sep 4 2015, 09:31 PM
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All Stars
24,467 posts Joined: Nov 2010
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apparently, rest of the world is unimpressed with rise in fx reserves.
usd/myr 4.28 http://www.xe.com/currencycharts/?from=USD&to=MYR&view=12h |
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Sep 4 2015, 09:41 PM
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Junior Member
535 posts Joined: Aug 2015
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Wow some people here are just so full of it having been proven wrong time and time again but old face too thick to admit it. As some have said the number don't lie and the reserve is up. A lot of these old thick face people says dooms days coming god know how long like 10years ago. We're still here and with the reserve number is up. It can only get better
This post has been edited by yolldddd: Sep 4 2015, 09:43 PM |
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Sep 4 2015, 09:57 PM
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Junior Member
96 posts Joined: Feb 2015
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crude oil down after us news, expect to see usd myr 4.30 today.
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Sep 4 2015, 09:57 PM
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Elite
15,855 posts Joined: Jan 2003
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http://news.yahoo.com/canada-officially-re...-131114485.html
Folks, By the way, in case that you did not catch the news, Canada aka another country dependent on commodity export is officially in recession now. Dreamer |
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Sep 4 2015, 10:40 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(Hansel @ Sep 4 2015, 06:38 PM) If the export can be maintained with current factory output, then the import needs to be lowered ! But what Nikkei hinted points to the export being possibly lowered due to lower factory output for August compared to July this yr. On the contrary, SME majority are for local market. I believed SMEs make up a larger proportion of components contributing to the overall export figure. If SMEs suffer higher costs of raw materials and disadvantages in export procuders due to the currency being used to quote to their customers, then we have a big roblem here too. On the workers, it depends on what type of workers we are talking about. If they are foreign talents needing to repatriate funds home, then we have a problem too since after they sent the funds home, the conversion will cause their families back home to receive a lower amount compared to previous times, eg Filipino maids sending funds home will find their families getting lower amount of pesos after conversion. Subsequently, they will demand a higher pay to offset the reduced pesos arriving back home. Bulk of export are from MNC and large corporation actually. You have a low volume or turnover of less than a few millions, it is hard to do export business, at least within my industry, I knew the situation. Per order, per load, you need near about million worth of goods before the business looks viable for both seller and buyer, volume too small, transportation cost eating your profit. You don't buy/sell a few cartoon, but a container. The situation now, more like MNCs and large export corporate are benefiting from the lower RM, but SME who business mainly cater for domestic market is suffering the cost increment. If RM keep on depreciating, soon or later import also will be plummeting as importers also will feel the pressure of increase in cost, while business out there is not brisk (in fact quite slow), so it is not so easy to pass the cost to consumer without a drop in sales volume. So there is forseeable coming month that export may drop, while import also drop as well, just the matter which drop more than the other that affecting the trade balance figure. |
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Sep 4 2015, 10:50 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(Hansel @ Sep 4 2015, 06:28 PM) You were comparing the RM vs the USD earlier for the corresponding period, hence my analysis of the exchange rate as in my earlier posting. A factory import a goods to manufacture and export further.I believed the same effect has persisted too, using yr eg : the SGD vs RM BEFORE crossing the support of 3.80 vs the USD. SGD vs RM on July 31, 2914 : 2.5584 SGD vs RM on July 31, 2915 : 2.7797 By the way, I thought we were discussing abt why the import figure ballooned in end-July 2015 compared to end-July 2014. You are mentioning 'export' now. It's okay,.. I would agree that if we are exporting exactly the same things as our neighbours, then if our currency depreciated more against the USD compared to our neighbour's currency, then we may have an advantage there in terms of pricing point if our pricing is denominated in the RM, and if our raw materials did not increase in cost. Or in other words, all else remaining the same. Otherwise, if we have new taxes imposed (eg GST), or our raw materials increased in cost, or we have new labour problems because of the currency depreciation (eg my maids don't have enough funds to repatriate home, hence demanding more pay), then the advantage may be evened out. The raw material price in term of USD won't matter, as later on it will also being export in USD. So the manufacturer is actually immune to the RM exchange rate. While if the imported raw materials goods consist of 50% of its cost (considered high already), the rest cost component like wages, factory expenses are in RM denominated, then the factory actually won't suffer cost increase in materials (as mentioned immune to exchange rate), but benefit from the rest 50% cost related to RM, typically MNCs, that view from overseas. Export goods are zero rated in GST, everything GST incurred is treated as input tax, which is claimable back. So no increase in cost for exporter. GST is hitting hard on consumer, not manufacturers or factories, as they are merely tax collector or middleman. GST is not a cost to manufacturers or factories. Just manufacturers suffer business downturn or poor volume due to poorer consumer sentiment as consumer need to pay more, not manufacturers. While for export market, GST doesn't affect the cost of manufacturers. |
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Sep 4 2015, 10:55 PM
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Senior Member
4,258 posts Joined: Nov 2012
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QUOTE(AVFAN @ Sep 4 2015, 09:31 PM) apparently, rest of the world is unimpressed with rise in fx reserves. Crude oil price roughly unchanged. With that piece of good news on our forex reserve, market should turn positive.usd/myr 4.28 http://www.xe.com/currencycharts/?from=USD&to=MYR&view=12h Maybe the market already has bad impression engraved. Thanks to our great leaders with great credibilities, all news from malaysia agencies may not be credible to the market anymore. If same situation were from Australia or Canada, their currencies would have soared |
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Sep 4 2015, 10:55 PM
Show posts by this member only | IPv6 | Post
#2339
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(AVFAN @ Sep 4 2015, 09:31 PM) apparently, rest of the world is unimpressed with rise in fx reserves. Gud time to lock-in profitsusd/myr 4.28 http://www.xe.com/currencycharts/?from=USD&to=MYR&view=12h |
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Sep 4 2015, 10:55 PM
Show posts by this member only | IPv6 | Post
#2340
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(AVFAN @ Sep 4 2015, 09:31 PM) apparently, rest of the world is unimpressed with rise in fx reserves. The US unemployment figure suggests rate hike is on the card back, so USD is having strength again. usd/myr 4.28 http://www.xe.com/currencycharts/?from=USD&to=MYR&view=12h USD is up against everyone now. So a lower rate with USD/RM is not something surprise. USD/RM drop in tandem with other currency, you don't have much problem. But if RM drop against all currencies alone or drop more significantly compared to other, then it is a problem. This is the difference. |
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