Tq, yes, I am moving-on from the ASx holdings, before it is too late to redeem at RM1.00 per unit.

I used to be afraid of the forex speculators more than anyone else and any other effects.

Forex speculators will always be there. But if those so-called 'forex speculators' start selling down your currency because you have a problem that makes them feel risky and feel uncomfortable with holding your currency (and your bonds), then we start to blame ourselves, our structural problems and our fundamentals instead of the 'forex speculators'.

It may not be the forex speculators anymore. After what happened last night, I could have been wrong to be afraid of the speculators. We need to clean up our house first, then only we can start to think of outside interference.

Thought we were talking about gen y and their job?

Hello guys, I am interest in converting some of my savings into other currencies in case of ringgit going into a continuous bad fall. Does local bank still offer multi-currency accounts that allow me to convert my ringgit into another currency. It is not for business use or tuition or anything, just for savings. Is it possible now?

by bnm regulation, rm is not traded outside msia, traded only locally during normal hrs.

bnm figures are official, as of 5pm every working day; bloomberg follows bnm.

but there are other contracts involving rm traded in'tlly elsewhere.

gives a good indication what it will be the next msia trading day, can fluctuate a lot.
http://www.xe.com/currencycharts/?from=USD&to=MYR&view=12h


3 weeks ago, i know a fren opened a multi currency account.

best to speak to yr bank.

This post has been edited by AVFAN: Sep 5 2015, 07:20 PM

Right - the reserve number is up, and numbers don't lie. But round one says that the desired effect is not being produced here. Perhaps too early to tell,.. that would be fair to say....

Do you think raising the BLR on Sep 11 will help to stabilise the RM, at least a little bit ? Will our BNM be willing to take this step, to the detriment of the people ?

We all agree that if the RM continues to fall, the effects created will be hard on the majority of us. As we await the desired effects to kick-in, the more the RM will fall, and the more difficult it will be to reverse the effects. We will be stuck with a high cost-push inflation after the dust has settled, provided the dust can settle, if the country does not fall into a deeper hole.

RHB got offer multi-currency-account

http://www.rhbgroup.com/products-and-servi...rrency-account/

this time, it is not speculators.

there has been no report of such.

moreover, thai baht and filipino peso are holding very well.

it is simply a lack of confidence, for reasons we already know.

that is actually something i am concerned about.

if a lot of the sme's fail or start downsizing, a lot of people will become jobless.

glc's may hold better, but won't be spared as we are already seeing in the banking sector.

the private sector will be in bad shape.

and there isn't room to expand the public service, is there?

lastly, can't imagine what will happen then to the few million foreign workers...

I believed graduates who are not able to find jobs are : job-seekers who desire 'goyang kaki' type of jobs with high remuneration and benefits.

And employers who complain of hiring difficulties and employers who put up banners and buntings for hiring are : employers who are looking for hard-working candidates demanding lower pays and lower benefits.

Hence, there is a mismatch in the above two categories of people, creating more 'job-seekers' outside and more hiring advertisements everywhere.

So no reports of speculators fooling around with our RM. ...

If SMEs fail, the primary negative effects will be : job losses, more expensive goods for us end-consumers, less tax collection for lembaga, and more motion of no-confidence against the administrators (whose jobs and functions are to create jobs and opportunities for the people).

The above will trickle down to further secondary effects such as drop in GDP, drop in sentiment, etc, etc,.. countless...

that's touching on the prospect of a recession!

Hmm,.. sometimes I'm thinking,... our lives are being made harder to cater for a chance to get higher figures in Trade Surplus and Int'l Reserves, as what we are witnessing now.

Is this a compulsory economic cycle event that everybody must go thourgh and suffer through ?

Or is it somebody's faulty decisions that cornered us into this ?

Mathematically, Recession is a Numerical Definition : two consecutive quarters of negative GDP growth readings.

Fundamentally, you are RIGHT !

Sentimentally, you are RIGHT !

Market-emotions-wise, you are RIGHT again !

Hence, no need to measure mathematically anymore !

Yes.

Some banks may be more strict. If so, tell them you want to open for investment purpose like DCI

Wouldn't they insist that you open a Wealth Banking account with them first, and having at minimum RM250K for DCI ?

I think local banks minimum is RM50k for DCI

Our market close but Europe/US market just started

U have decided to liquidate?

Most Banks require min sum of RM250k for individuals with net assets < RM3 mil

which bank is that?