USD1.00 = MYR 3.76090

3.80 is coming very soon... maybe on Monday

now that it has gone to 3.76... 3.80, 4.0 does not seem that impossible, right?

we'll see if bnm will intervene or let it slide with market forces.

xmdb's, gdp growth, inflation, potential int rate cut, trade balance, budget deficit and borrowings for the rest of the year will determine the rm.

yes, rm4 now looks possible to achieve

but I'm not sure if BNM would intervene, they said something about "gradual currency depreciation" before

I'll more than happy to see it reached 4.0
So my forex withdrawal USD-RM I'll get more RM 😂😂

good for u

a bit more, a bit less... but same trend against all major currencies. remember the early 1990's? at that time, there was so much fdi, hot money that a lot of people thought they were demi-gods - anything they touch - stocks, properties, import/export, manufacturing, retailing - turned into gold.
the ringgit was in demand. usd 2.5, sgd 1.7, aud 1.95, same with yen, pound, renminbi.
http://www.tititudorancea.biz/z/fx_myr_19970306.htm

well, after after 1998, everything changed. today, only currencies of south africa, brazil and the like are weaker. also debt has gone >5 times since.
http://www.themalaysianinsider.com/sidevie...y-2020-pak-sako

we would hope the rm will strengthen, but what will make it strong and in demand again? i find this elusive when i look at debt, budget deficits, exports, oil price. add the continuous wastage, bailouts, certain agendas, productivity, foreign illegals repatriating money, illicit outflows... what probability in the next decade rm will gain over major currencies?

This post has been edited by AVFAN: Jun 7 2015, 08:37 AM

I like it!! Cheaper to shop and eat out in Malaysia despite GST.

I hope BNM don't intervene.
Cheaper Ringgit is actually good for Malaysia.

You can try invest small too. Hehe

Yes is good indeed but when u gonna travel, ur pocket hurts

Yes.. unfortunately local folks who earn Ringgit will see their purchasing power diminished because they're paying
higher exchange rate. Maybe more local trips for them. No oversea trips.. (unfortunately, including Singapore for them).

Its a not a good year for Malaysia!!

Last year was bad already.. this year also bad meh?

I believe bank Negara will bring back the old RM500 notes soon n later RM1000 notes

Its already mid year and we are still haunted by the past, present and future

Yes, very true I agree with you. But this sudden drop is not logically for me. In short term from 3.4 to 3.7 that's a huge difference.

I know CPI will increase as our import is Huge

Well, it took approx 4-5 weeks. It's not just the weakening Ringgit but also Oil prices are lowering because of stronger Dollar.
The foreign funds gradually are pulling their money out because of the uncertainty of Malaysia bonds. But, they'll be back if it gets cheap enough.

good to have back the rm500 notes if really happen

it was 3.4 in nov 2014, so 3.4->3.7 took 7 months.

if u look at this 10 yr chart, u see the spikes and ebbs.
in was not so long ago in 2009 when rate was 3.7.
http://www.xe.com/currencycharts/?from=USD&to=MYR&view=10Y

for rm, aug 2014 at 3.15->june 2015 at 3.76 = 20% in 10 months.
http://www.xe.com/currencycharts/?from=USD&to=MYR&view=1Y
during same period, sgd sank 9%, aud 22%. the big reason is commodities like oil and iron ore in poor demand or oversupply. all nations exporting commodities are hammered, incl m'sia n australia. that's on top of a surging usd due to expectations of an int rate hike this year.

natural gas prices tend to lag that of crude oil by a few months, so say the experts. this is probably adding to the rm pressure now:
http://www.straitstimes.com/news/business/...prices-20150605

and this kind of news tells u foreign funds aren't flowing into bursa anytime soon:
http://www.theedgemarkets.com/my/article/k...solidation-mode

of course, many other factors already mentioned.

This post has been edited by AVFAN: Jun 7 2015, 03:18 PM

they will be back but no so soon i believe until 1mdb is resolved