win liao lor u. go up also not good. go down also not good. everything give you say finish. lol

The latest check a while ago, MYR has depreciated against SGD, GBP or even CAD which just announced fell into recession

Against Sgd is not that worry, the more worry is depreciated against the like Aussie and Kiwi which should be the weakest among the major currencies.

Their fundamental are the weakest among all.
They have trade deficit, current account deficit, low commodities price, slow GDP growth, which are bearish factors for the currency.

So fundamental wise, RM is way better, but Rm still drops against them.

This post has been edited by cherroy: Sep 4 2015, 11:14 PM

nono,,, our rm win nzd

Roughly flat against AUD and NZD.

MYR problem is beyond economic fundamental, as discussed in the way earlier pages.

Can only show RM these

1 USD = 4.28 MYR

Despite the national reserve up.
http://www.thestar.com.my/Business/Busines...g-28/?style=biz

Unconvincing US job data with a possible interest rate hike.
http://www.reuters.com/article/2015/09/04/...N0R401520150904

Not to mention the oil price

I would very much interested to see our KLCI index on Monday.

This post has been edited by stanzai: Sep 4 2015, 11:32 PM

gonna reach new high soon

Wat is the ETA to 4.30?

bad news for Malaysian.. higher cost of living

Now already 4.29. LOL. What answer do you expect? Basically today

Yes I will admit things wille be more expensive. Economy have ups and downs. I don't know why some people only think economy will only go up up up lol and if it goes down we're all doom!!! we're now at the downward trend so save a little by eating at mamak stall etc after the storm pass all will be back to normal remember hk, china etc people have it worst than us

This post has been edited by yolldddd: Sep 5 2015, 12:13 AM

It surprise alot of peoples with minor increase? Could it be some of the GLC listening to instruction from Najib, move their overseas asset back to malaysia? or buy back malaysia MGS?

Now already 4.31 @.@

0020 hrs 4.30160

1.00 USD = 4.29880 MYR
US Dollar ↔ Malaysian Ringgit

3 Sep 2015 23:00 UTC - 4 Sep 2015 23:01 UTC
USD/MYR close:4.31050 low:4.23450 high:4.31050

Finally v have crossed MYR4.30 mark safely

Good morning.

If a factory does not have USD reserves and has been using the RM all this while in their dealings, only purchasing USD when there is a need to purchase from overseas, then that factory will experience higher cost when it needs to purchase raw materials denominated in the USD. An MNC has many overseas operations, eg production facilities everywhere, it would already have USDs in-hand, the negative effect may be less but will not be totally immune to effects from the exchange rate.

As in the report issued by Nikkei shown a few pages back, it keeps talking abt raw materials being the largest cost contributor. If we believed in the report and make effort to interpret the numbers, then it is fair to say that the majority of our manufacturing operations DO NOT have USD reserves in-hand.

We'll see how many of the factories close down moving fwd, then we'll know the 'combined' effect of what we are experiencing.

If we are going to do down the path as in the above and protect ourselves against the exchange rate, then it would look like all busniesses need to do their transactions in the USD already, and nobody would want to hold the RM anymore. We all know what tis means for the RM.

GST can be claimed back for export goods, aware of that - one of the three types of GST 'rated' categories. But the process of claiming back is time-consuming and hits on the cashflow of these operations, definitely incurring more finance expenses in the long run. I have clients exploring ways now to perform litigation against the Cistoms for delay in refund positions and policies associated with refunds. Some SME owners (who have acceptable tax-paying backgrounds) have even decided to terminate operations because of the GST-enforcement.

This was what I feared : numbers good but do not translate into desired results.

If we are talking abt locking-in profits from the USD-MYR exchange rate, then we should wait further. If this news does not create the desired effect that the MYR will 'turnaround', then the MYR is destined to fall further, due to whatever other 'overriding reasons' such as price of crude oil, world economy prospects, current commodity rout, etc,...

The MYR is just not able to 'turnaround' anymore,...

With the international civil movement's recent meeting in Malaysia, we got the maximum worldwide exposure on our plight in politics. Our economic fundamental is no more the sole determinant of our fair currency value. Market will keep on dumping the RM despite good news on our indicators

As any quick resignation and political remedy not in sight, 4.50 will be fast approaching, and breaking of records of above 4.7x is just a matter of time

Inflation will be out of control in the next 3-6 months. BNM might have no choice but to increase OPR as RM issue > risk of economic downturn issue. Politically they have take the risk to be seen as "we tried our best"

Stock market will crash on grey economic outlook. Economy turns south and into recession. Wide spread retrenchment may happen and unemployment rate increases. As people find financial difficulties, it will be followed by property market crash and further aggreviate the economy.

The bad economic outlook of the world at large is already a tough environment for any country to handle for the next 2-3 years, and Malaysia has such additional political issue to worry about. No politician will be interested to put their slight focus on saving the economy if he is in such shaky position. Just imagine if you are in the same position, you will be more concern not to land yourself in jail or thinking about which country to flee to when situation gets out of hand than worry about the rakyat's bank account

The outlook is the gloomiest since 1998. Feels like we are on the tallest roller coaster in the world, moving and reaching the peak and the plunge to the bottom will start anytime.

Everybody, hold on tight !