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 ringgit Malaysia drop , how to I change my RM to USD

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danmooncake
post Jun 9 2015, 09:22 AM

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QUOTE(nexona88 @ Jun 9 2015, 09:16 AM)
really? that's weird  hmm.gif  should be cheaper lor  nod.gif
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I think middle men pocket the difference. That's why sometimes, better for me to take weekend trip to JB.
I can get more Ringgit from SGD or USD and buy the same stuff cheaper than way.

Father Day in two weeks time, another feast out coming. brows.gif

AVFAN
post Jun 9 2015, 09:54 AM

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QUOTE(MR_alien @ Jun 9 2015, 08:28 AM)
made in malaysia bro...we export them
our rubber are world class..so those tyre maker chose to make them here...hence the cheap price of the tyre that we're paying
if its imported...it would cost more than RM200/tyre+-
continental is a good choice
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ah... thanks for info.
i will check this local-imported thingy.
sometimes, local stuff can cost more!

QUOTE(danmooncake @ Jun 9 2015, 09:14 AM)
The strange thing about weakening Ringgit, I thought I would see imported stuff from Malaysia will go down in prices but I haven't seen that yet.  For example, no drop in Durians price in Singapore.  sad.gif
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very likely the smart exporter sells in sgd! laugh.gif

This post has been edited by AVFAN: Jun 9 2015, 09:54 AM
MR_alien
post Jun 9 2015, 10:00 AM

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QUOTE(danmooncake @ Jun 9 2015, 09:14 AM)
The strange thing about weakening Ringgit, I thought I would see imported stuff from Malaysia will go down in prices but I haven't seen that yet.  For example, no drop in Durians price in Singapore.  sad.gif
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should be cheaper but due to some who are greedy and wan profit more
thn u know lah
MR_alien
post Jun 9 2015, 10:01 AM

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QUOTE(AVFAN @ Jun 9 2015, 09:54 AM)
ah... thanks for info.
i will check this local-imported thingy.
sometimes, local stuff can cost more!
*
i've seen those made in japan/made in thailand tyres before...it will be stated on the side of the tyre
it cost double of what we usually paid for
quality should be the same since rubber also came from malaysia anyway
nexona88
post Jun 9 2015, 10:26 AM

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QUOTE(danmooncake @ Jun 9 2015, 09:22 AM)
I think middle men pocket the difference. That's why sometimes, better for me to take weekend trip to JB.
I can get more Ringgit from SGD or USD and buy the same stuff cheaper than way.

Father Day in two weeks time, another feast out coming.  brows.gif
*
yes, I do think those middle men took "extra" profit shakehead.gif
AVFAN
post Jun 9 2015, 11:14 AM

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QUOTE(MR_alien @ Jun 9 2015, 10:01 AM)
i've seen those made in japan/made in thailand tyres before...it will be stated on the side of the tyre
it cost double of what we usually paid for
quality should be the same since rubber also came from malaysia anyway
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u r right, i just checked.

for my car, local continental rm216, bridgestone thailand rm243.
MR_alien
post Jun 9 2015, 11:21 AM

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QUOTE(AVFAN @ Jun 9 2015, 11:14 AM)
u r right, i just checked.

for my car, local continental rm216, bridgestone thailand rm243.
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buy local
i trust local rubber better and its somewhat also newer
AVFAN
post Jun 9 2015, 11:23 AM

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QUOTE(MR_alien @ Jun 9 2015, 11:21 AM)
buy local
i trust local rubber better and its somewhat also newer
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yep, will do continental. been happy with the current ones.
wodenus
post Jun 9 2015, 06:51 PM

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QUOTE(AVFAN @ Jun 8 2015, 06:05 PM)
for that... yen, sgd, tbh also not bad.

5pm, usd... 3.772. lost 1.4% in 1 day.

no intervention by bank negara?
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There was until Jun 5, then it stopped.. may have started again.
Hansel
post Jun 9 2015, 09:23 PM

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BNM wil not have sufficient ammo. BNM is unble to print money as and when she likes.
nexona88
post Jun 9 2015, 09:49 PM

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ECB paper finds that weaker currency does not boost exports
http://www.theedgemarkets.com/my/article/e...ts?type=Markets


could the same logic apply to Malaysia? hmm.gif
cherroy
post Jun 9 2015, 09:53 PM

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QUOTE(nexona88 @ Jun 9 2015, 09:49 PM)
ECB paper finds that weaker currency does not boost exports
http://www.theedgemarkets.com/my/article/e...ts?type=Markets
could the same logic apply to Malaysia?  hmm.gif
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Europe economy is not export orientated so the effect of weaker currency boosting the export is not significant.
nexona88
post Jun 9 2015, 10:13 PM

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QUOTE(cherroy @ Jun 9 2015, 09:53 PM)
Europe economy is not export orientated so the effect of weaker currency boosting the export is not significant.
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thanks for the info rclxms.gif
AVFAN
post Jun 10 2015, 12:43 AM

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this article says 32% local currency bonds held by foreigners.
QUOTE
Malaysia is vulnerable to outflows spurred by higher U.S. interest rates as central bank data show global funds hold 32 percent of the nation’s government bonds, compared with 18 percent for Thailand. Overseas investors sold a net 2.5 billion ringgit ($663 million) of the nation’s shares last month, stock exchange data show.
http://www.theedgemarkets.com/my/article/r...-0?type=Markets


now, this one says 47%, highest of 10 emerging markets. good read article.

QUOTE
So far, the currency declines have been benign in most of the developing countries. While the average 30 percent drop in emerging-market currencies since early 2011 has failed to boost exports and growth, it helped cut imports and narrow current- account deficits in the economies of Turkey and India among others.

As of April, overseas investors held an average 30.5 percent of local-currency bonds in the 10 largest emerging markets, compared with the all-time high of 31.2 percent in January, according to Credit Suisse Group AG. Malaysia has the highest foreign ownership with 47 percent, followed by 39 percent in Poland and 38.5 percent in Indonesia.

Capital outflows have already started. Investors pulled $577.7 million from U.S. exchange-traded funds that invest in emerging markets last week, the first outflow in almost three months, according to data compiled by Bloomberg.
http://www.theedgemarkets.com/my/article/o...trong-greenback



looks like more pain coming...
AVFAN
post Jun 11 2015, 06:27 PM

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QUOTE(danmooncake @ Jun 8 2015, 07:30 PM)
Lower Ringgit is good for the Malaysia (as exporters of manufactured products).
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2 ministers happily agree with u.
QUOTE
"The point is why we didn’t think of this earlier, i.e. depreciate our ringgit earlier to get the perceived benefits."
Full article: http://www.malaysia-chronicle.com/index.ph...2#ixzz3ckUYhPzZ


nz cut int rate by 25bps today, nzd lost 2.6% in 1 day.

if bnm cut rate in 2h2015 as forecasted by merrill lynch, we hv an idea what rm will become.

yr nasi lemak will become cheapy cheapo cheap. tongue.gif

This post has been edited by AVFAN: Jun 11 2015, 06:41 PM
nivota
post Jun 11 2015, 07:05 PM

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Tumpang thread here guys...hope sifus' here can give me piece of advice...

I'm getting afraid because i'm going to UK for my degree studies this coming September
As looking ringgit dropping from 5.2 early this year up to 5.8 as of today, anyone have any idea or advice to direct me so that i'm spending the less ringgit to UK?

Thanks everyone
danmooncake
post Jun 11 2015, 09:42 PM

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QUOTE(AVFAN @ Jun 11 2015, 06:27 PM)
yr nasi lemak will become cheapy cheapo cheap. tongue.gif
*
That's good... I can buy more treats for family members. Can get cheaper grouper dish every weekend from across the straits! thumbup.gif



danmooncake
post Jun 11 2015, 09:52 PM

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QUOTE(nivota @ Jun 11 2015, 07:05 PM)
Tumpang thread here guys...hope sifus' here can give me piece of advice...

I'm getting afraid because i'm going to UK for my degree studies this coming September
As looking ringgit dropping from 5.2 early this year up to 5.8 as of today, anyone have any idea or advice to direct me so that i'm spending the less ringgit to UK?

Thanks everyone
*
Unfortunately, that's one of the bad things about rising foreign currencies. Your foreign education also became more expensive and this could be additional hardship for more families. Unfortunately, higher education is not becoming cheaper either.
Even for local people (at foreign countries), they are expensive too and they rise 4-5% every year.

For example, I've figured my kids would need at least $25-$30k USD (for In-State) per year (tuition/room/food) at decent State own University back in US by the time they get to college. 4 years will take up $100K. Out of state/Private can easily double that amount. That's why I am socking away some college fund for them.. just to help along in case.

Back in my college days.. .$10K can kow tiam. I know those days are long gone... cry.gif
T231H
post Jun 11 2015, 09:53 PM

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QUOTE(nivota @ Jun 11 2015, 07:05 PM)
Tumpang thread here guys...hope sifus' here can give me piece of advice...

I'm getting afraid because i'm going to UK for my degree studies this coming September
As looking ringgit dropping from 5.2 early this year up to 5.8 as of today, anyone have any idea or advice to direct me so that i'm spending the less ringgit to UK?

Thanks everyone
*
hmm.gif with just 2+ months..cannot do much...FOREX can go both ways...
instead of thinking of how to spend less ringgit to UK, in this 2+ months, why not focus of how to spend less and make some pound in UK while you are there.
ex...learn to cook and do some stitch works, learn some basic hair cutting....keep your self more physically fits so that can do some part time work while there...
just a thought...

Hansel
post Jun 11 2015, 09:53 PM

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QUOTE(AVFAN @ Jun 11 2015, 07:27 PM)
2 ministers happily agree with u.
nz cut int rate by 25bps today, nzd lost 2.6% in 1 day.

if bnm cut rate in 2h2015 as forecasted by merrill lynch, we hv an idea what rm will become.

yr nasi lemak will become cheapy cheapo cheap. tongue.gif
*
Somehw I just cant belief tht our local goods will become cheaper after the BNM cuts the OPR by 25bps.

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