damn man i just wanna know how to switch my MYR to USD beside money changer...why suddenly so many discussion..

if u din follow me, u do hv quite a bit to read up and act...

basically, i was saying:

... money changer, you buy sgd with rm at say 2.70, if u sell immediately after buying , u get only 2.60, u already lost 3-4%. this is called spread - money changers earn it, that's their biz.

Money changer spread is actually very low....definitely less than 1%

SGD  SINGAPORE DOLLAR  2.645  2.660        2.66/2.645 = only 0.57%

SD  US DOLLAR  3.535  3.565              3.565/3.535 = only 0.85%

I went for overseas hol last mth and if I were to exchange back the USD$ to RM which I still have leftover, I would have made over 8% profit

thanks for info, haven't been to money changer in a long time!

that is probably among the better ones.

better buy imported from USA goods now before they increase price

there must be so many ways available now.

go to bank and ask for multi currency account.

go to investment bank and ask for foreign trading.

not sure how much is required before they will accept your application though. for example,

http://www.rhb.com.my/deposits/multi-currency/mc_main.html

you want to open foreign trading account?
can pm me for details.

WA.. u apa pun ada punya oo

Dun understand why they put fd rate more than 10that time.. can explain?

damn man i just wanna know how to switch my MYR to USD beside money changer...why suddenly so many discussion..

anyone frequent to money charger? is it money charger don't like to publish their rate on a board for public viewing in their business premise but inside their own office instead? i know bank publish their rate for public viewing.

That's why BNM doesn't make a move until now.

Malaysia’s Foreign Reserves Fall 14 Percent to Lowest Since 2011
By Liau Y-Sing  Jan 8, 2015 6:42 PM GMT+0800  0 Comments  Email  Print

Malaysia’s foreign-exchange reserves dropped to the lowest level since March 2011, a sign the central bank may have intervened to stem a slide in Southeast Asia’s worst-performing currency.

The holdings fell 14 percent to $116 billion as of end-December from a year earlier, Bank Negara Malaysia data showed today. They declined 4 percent from the previous fortnight. The ringgit has weakened 10 percent since June and dropped to a five-year low of 3.5862 a dollar yesterday. It closed 0.4 percent higher at 3.5665 in Kuala Lumpur today.

A slide in global crude prices has put pressure on the ringgit, posing a revenue risk for oil-exporting Malaysia, which is seeking to lower the fiscal deficit to 3 percent of gross domestic product in 2015 from 3.5 percent. The central bank may have intervened in the first two weeks of December to stem the currency’s slide, UBS AG strategists including Gareth Berry wrote in a research note earlier today.

Malaysia’s foreign reserves were supported by a bigger current-account surplus and foreign direct investment inflows in 2014, Bank Negara said in a statement. The holdings can finance 8.4 months of retained imports and are 1.1 times the short-term external debt, it said.

“The reserves are expected to remain ample in 2015, supported by trade and investment inflows,” Bank Negara said.

Debt Holdings

The central bank told local lenders last month to guard against speculation in its currency. All short-dated transactions requiring the exchange of ringgit for a foreign currency must be backed by documentation, Bank Negara Malaysia said in a Dec. 4 statement.

Concern about the nation’s finances is already starting to show in the local-currency debt market, where global funds reduced holdings of Malaysian government and corporate debt in November by 5.8 percent, the most since September 2011, to 236.5 billion ringgit ($66.2 billion), official data showed Dec. 31.

The impact on the ringgit from the drop in oil is “amplified by the heavy foreign presence” in bonds and equities, the UBS report said. Valuation effects will distort today’s reserves numbers, magnifying any drop, as the dollar rally into year-end lowered the U.S. currency value held in other currencies, it said.
http://www.bloomberg.com/news/2015-01-08/m...since-2011.html

here we go:
let's hope there is enough to intervene n not let it go beyond 3.60!

If you just want to change, money changers are the easiest.

If you are afraid of RM losing its value against USD, hedge it by investing in US denominated treasuries or other equities like stocks.  But note the risks involved.

One can hedge against RM through investing in stock market as well on those company that potential benefited from the lower RM exchange, typically company doing export and received payment in USD.