As you can see Ringgit Malaysia drop like mad in many ways aginst USD, SGD, RMB, Thai bath, New Taiwan dollar.
I want to change most of my savings RM to USD as.I believe it.might raised to one USD become 4 Ringgit malaysia.

Beside money changer is there a faster way to switch myr currency to USD??

??? I dun understamd dude. So is money changer the only way?

RM3.55 for 1 USD. This is ridiculous 

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

In 1998, USD/MYR was at its lowest of 4.40.

Read somewhere that the reserve then was only USD30 billion but now is USD110 billion.

Last time it falls to RM4.40 but the government have enough reserved to circulate the money .. till now RM ever got to 3.0 = 1usd. Last time it was like 2.7 = 1usd. How many years now and we still can't recover below 3.0 = 1usd.
And now with all the shits that happen .. I doubt we can recover to 3.0 or yet we might go 5.0 = 1usd and stay there for a couple of years.

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

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

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

USD to MYR stuck in 3.57 many days. oh gosh

One thing for sure, the coming year of goat will be more costly one as imported stuff price is higher now. Even for IT stuff. The price keep on increasing when it always gone down before. Now is trying to think what will benefit when RM is down beside changing to US$. Will Malaysian government borrowing rate will go up?

My hobby already hit since December when the pre-order kit price raise by RM10-15 each kit and shipment switch to surface to save cost due to rising US$. Daiso shop - if you buy from aboard one will notice it cost 6% higher after exchange to RM when it suppose to be RM5/= all over the world. Hopefully,it can be even out by dropping petrol price. I switch to RON 97 to clean my old engine! I hear many immigrants is heading this way due to starvation and rising rice price along the border of bangla-myanmar border. No way one can stop starving people. I think we can deposit into US dollar account at our local bank like UOB etc. They also have Aus and NZ dollar too. If have extra $$$ then can open one as it similar to fd but it have higher risk too due to exchange rate. I once put 5K into Am currency II and after maturity - it lost money but it capital protected so I still get RM19/= for my two year.

Usd 1 to rm3.67 now In all Forex Malaysia.
they are selling myr hard to buy USD.

Dollar at 12-year peak vs euro, emerging markets spooked

The prospect of rising U.S. yields threatened to draw funds away from emerging markets, causing strains from Brazil to Turkey. The Brazilian real led the rout, having fallen for the sixth straight session.

The pressure then spread through Asia and Africa with the South Korean won hitting its lowest since late August 2013, the Singapore dollar since 2010 and South Africa's rand in 13 years.

Eastern Europe was also heavily in the red. Selling accelerated for Poland's zloty, the Czech crown, Romania's leu and Hungary's forint while MSCI's main emerging market stock index fell for its eighth day running.

"At times like these it is really the currency moves, nobody really cares about the carry anymore," said Jeffries emerging markets strategist Richard Segal.
http://www.theedgemarkets.com/my/article/d...markets-spooked

so its a good time to hold some aud/yen at this point? I spend a lot of US dollars and this exchange rate is killing me

I dont think the current condition will allow that to happen. not in the near future at least.

i think it will not peg in near future.

I am just looking at the trend, last peg was done during the reign of Dr.M era which pretty much practice anti west policies and more to the pro east policies.

Looking at the current reigning leader with the "good" relation to the west with all its golfing,etc. I am guessing there should be huge investment done in USD and what not. So dont make sense to me if they going to peg it soon.

I may be wrong, i dont know.

Wah 3.76 bad deal, should go mid valley money changer

Bloomberg View
How Asia should defend against the rising dollar
http://www.theedgemarkets.com/my/article/h...t-rising-dollar

Friday, 20 March 2015 06:04
Ringgit could fall to 3.95 against U.S. dollar by Sept, economist

PETALING JAYA - Macquarie Research expects the ringgit to depreciate further to 3.95 against the dollar by September, before ending the year at RM3.82, boosting exports and trade surplus, said its Asean economist P.K. Basu.

"Malaysia is indeed a net exporter of oil (the only one in East Asia apart from Brunei), but its net exports of oil are small (the value of crude-oil exports being partly offset by imports of refined product). Sluggishness in palm oil and rubber prices, as well as plunging crude oil prices, clearly hurt sentiment toward Malaysia and had a negative impact on the earnings of listed companies in the oil services and plantation sectors," he said in his research note.

Basu said the central bank appears to be comfortable with further ringgit depreciation although the nation's terms of trade have not deteriorated.

"Despite a perceived deterioration in Malaysia's terms of trade (with the decline in crude oil prices and sluggishness in palm oil and rubber prices), the trade surplus has remained large. Exports (in US$) have declined 5% year-on-year in the latest three months (November 2014 till January 2015), but imports have declined an even sharper 6.6% year-on-year, widening the trade balance to a monthly surplus of US$2.83 billion during the latest three months," said Basu.

He said periods of large depreciation of the ringgit have been relatively rare over the past 20 years but when it depreciated 8% to 10% year-on-year, there has typically been a rebound in exports and the trade surplus after about six months.

The biggest depreciation was in 1998, followed by dramatic rebound in exports and trade surplus in 1999 and 2000 while in 2009, ringgit depreciation similarly resulted in an export-led rebound from October 2009 and the 8% depreciation in the year to Januar 2014 bolstered trade surplus in the first half of 2014.

"The recent episode of ringgit depreciation should similarly boost exports by Q2 2015, and allow a widening of the trade surplus in April-September 2015," he said.

During Bank Negara Malaysia's (BNM) briefing on the annual report last week, the deputy governor emphasised the "terms of trade shock" that Malaysia has experienced in the past half year, which he said justified the depreciation of the ringgit, primarily as a means to temper the decline in farm incomes from the decline in export-commodity prices.

"While we recognise the social benefits of offsetting the latter, we note that Malaysia's terms of trade have not actually deteriorated significantly. Not only are Malaysia's exports and imports dominated by non-commodity manufactures (led by electronics), but even the oil terms of trade have not deteriorated significantly," said Basu.

Despite the ringgit being the worst performing currency in Asia this year and the issues surrounding 1MDB, Basu said there is still light beyond the "dark tunnel".

Real gross domestic product (GDP) is expected to decelerate this year to 4.5% growth as private consumption is reined in to 5.4% year-on-year growth, in response to the imposition of the Goods and Services Tax (GST) in April.

"Inflation is 1% year-on-year, and set to rise moderately to about 2.5% year-on-year with the imposition of the GST in Q2 2015. The latter (being a tax on consumption) will boost the savings rate, thus bolstering Malaysia's current account surplus. With inflation much lower than it previously projected, we expect BNM to cut the overnight policy rate (OPR) 25bp in Q2 2015," he said.

Basu expects BNM to cut the OPR at its May 2015 meeting or no later than the July meeting, and to keep it at that level through 2016. Consequently, an investment- and export-led rebound to 6.1% real GDP growth in 2016 can be expected. - Sundaily

Full article: http://www.malaysia-chronicle.com/index.ph...3#ixzz3UsJTArSx
Follow us: @MsiaChronicle on Twitter

See  predicted right

My income in USD...

Nice to meet you guys. I've read thru all your responses on this thread. Since you guys are experienced, I'd like to seek for your wise/supportive advice.