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

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MeToo
post Jan 7 2015, 04:14 PM

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QUOTE(Ancient-XinG- @ Jan 6 2015, 10:52 PM)
Dun understand why they put fd rate more than 10that time.. can explain?
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Cause loan rate is 13% lol
MeToo
post Jun 18 2015, 02:10 PM

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QUOTE(nexona88 @ Jun 18 2015, 02:06 PM)
USD 1 = MYR 3.73  yawn.gif
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1 : 3.7135

I'm waiting for it to hit 3.68 if possible.. then I'm going to big time short the ringgit (per my standard is big time la tongue.gif).... whack 10 lots to start... wub.gif

This post has been edited by MeToo: Jun 18 2015, 02:11 PM
MeToo
post Jun 18 2015, 04:27 PM

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QUOTE(onomatopoeia @ Jun 18 2015, 03:33 PM)
The question is how big is the sum you are having?
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The bigger question is.... where u gonna keep the money? Under your pillow?
MeToo
post Jun 18 2015, 04:44 PM

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QUOTE(vincentwmh @ Jun 18 2015, 04:43 PM)
i am just a 'runcit' mentality!!! change to usd now, hug them in my bolster while i pen down my asia travel plans over the next 5-7yrs. spike my travelling budget & spending power ie usd vs rupiah/bath/dong/yen  shocking.gif .
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You lost 4% interest per year... so u have to make sure USD rise more then 4% per year...
MeToo
post Jun 18 2015, 05:04 PM

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QUOTE(vincentwmh @ Jun 18 2015, 05:03 PM)
yes, agreed but this 4% is actually a gain in rm-numeric only but depreciates in spending power. unless yearly you downgraded from local holiday in langkawi(2016), melaka (2017), taiping (2018), batu pahat (2019) then kampung melati (2020)...so on. with a start which can afford 4-star hotel, two years later, can only afford hostel.

with usd vs rm/rupiah/dong/yen etc moving in opposite directions, i opt to stuff my bolster with usd and spend it yearly across asia
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You dont get it.

I was going to leave it at that... but...

You see...

U have RM now... either u put it in savings or change to USD.

If u change it to USD, and keep it in your house. THe money doesnt generate any interest, at best it appreciates (MAYBE).

If you have kept your RM, it generates interest.

Hence, to make it worthwhile, the appreciation of your USD (in your pillow) must be MORE then 4% per year, which is the current interest by the banks.

If the appreciation is LESS, then you are losing out.

This post has been edited by MeToo: Jun 18 2015, 05:08 PM
MeToo
post Jun 18 2015, 05:28 PM

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QUOTE(vincentwmh @ Jun 18 2015, 05:21 PM)
yes, i totally agree with you. i understand. its just that i opt to do both. just a portion (to me, just a sum of my 7yrs travel budget fr rm into usd into my pillow now and surely portions for the 'blue' and others generating mode.

p/s when aud 2.6++ in-sight, i am sure to stuff some under my pillow too..hahaaa drool.gif

BTW, BNM X usd notes direct deposits, need to convert. but in sin, you can bring your pillow stuffed in usd notes and deposit them. small interest tho!! if big amt, why not!!
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Foreign currency account has interest? If yes its super low.

ANyway.. lets put it this way...

Currently is 3.7080.....

You plan to travel in 5 yrs time...

So you change USD now... u probably get hit atleast 200 points? So 3.7280.. THis is the rate u locked in.

in 5 years, the USD must go to 4.3378 before you break even if compared to putting your ringgit in the bank.


Understand now?
MeToo
post Jun 30 2015, 01:05 PM

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QUOTE(Zanmai0146 @ Jun 30 2015, 01:04 PM)
I don't play politics but in your point of view, will opposition manage well the country? By right now they are doing good job for the states.

Do they have experience on managing a country? Scare something even worst happen after later but I don't mind we give opposition a chance.
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One will definitely songlap, have songlap for 50 yrs. Another might songlap.

You say which one worse.
MeToo
post Jul 8 2015, 11:37 AM

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QUOTE(AVFAN @ Jul 8 2015, 09:52 AM)
doesn't look like it.

bnm doing a good job for now.

3.81 it is.
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SO instead of drinking tap water for dinner, now we can eat plain porridge... and that constitute a "good job" huh?
MeToo
post Sep 3 2015, 12:22 PM

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QUOTE(yolldddd @ Sep 3 2015, 12:17 PM)
Just relax guys 4.2 ain't so bad when compared to hkd which is 7.75 to the usd but still hong kong people still get by wonderfully smile.gif
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The amount of stupidity contained in the single line above is mind boggling..
MeToo
post Sep 3 2015, 12:25 PM

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QUOTE(yolldddd @ Sep 3 2015, 12:06 PM)
Most probally bnm will probally fill in the gap if malaysia really default as they have a huge reserve smile.gif
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Malaysia have huge reserve?!

HUGE?

Dude... what kinda standard/benchmark are u using to define this "huge" reserve? doh.gif
MeToo
post Sep 3 2015, 02:33 PM

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QUOTE(cherroy @ Sep 3 2015, 02:10 PM)
My guess would be dropping about as same as last 2 week ago, aka a drop of about USD 2 bil, so should stay above 90 mark.
As there is no sign of strong intervention from BNM, while equities outflow generally has been receding for the last 2 weeks.

If below USD 90 bil, it may hurt the RM sentiment further.
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speaking of which, the last when they announce the reserve... the RM/USD conversion were using a rate of 3.77.....
MeToo
post Sep 3 2015, 03:40 PM

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QUOTE(wil-i-am @ Sep 3 2015, 02:52 PM)
Incorrect
As per BNM, 4.0810 @ 14/8 n 4.2000 @ 28/8
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U use that rate and try tally their USD vs Ringgit figures
MeToo
post Sep 3 2015, 04:26 PM

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QUOTE(cherroy @ Sep 3 2015, 04:24 PM)
Foreign currency reserves means how much USD that BNM has in the coffer.
How much the USD translates into RM due to exchange rate is irrelevant

or in other word,
Foreign currency reserves is always being measured in term of USD only, because you need to pay import bill in term of USD, pay external debt in USD.

When (if) BNM intervenes in the forex market to "defend" the RM aka buy RM with USD, means they need to sell their USD to RM seller, by then lesser USD in their coffer.
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I dont think our foreign currency reserve consist of only USD
MeToo
post Sep 3 2015, 05:46 PM

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QUOTE(cherroy @ Sep 3 2015, 04:45 PM)

Foreigner buyer come in Malaysia to buy palm oil in Malaysia, they will bring USD to BNM to exchange to RM then pay the palm oil company.

No. Palm oil trade are done in USD basis. I should know.
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