QUOTE(supersound @ May 29 2015, 02:43 PM)
Nope, they won't peg, now they are using this to send money out.
As in like when malaysia's currency drop, their overseas money will not be affected?ringgit Malaysia drop , how to I change my RM to USD
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 May 29 2015, 02:45 PM
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All Stars
24,334 posts Joined: Feb 2011  
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Jun 28 2015, 05:45 PM
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#2
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All Stars
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QUOTE(supersound @ Jun 28 2015, 05:39 PM) Well, talk is cheap If crude oil price goes up, Malaysians are dead. All are just speculating. In order for USD to drop, you need crude oil price going up. |
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Jun 29 2015, 01:32 PM
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#3
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All Stars
24,334 posts Joined: Feb 2011
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Why the sudden hike? Something happened?
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Jul 1 2015, 09:57 AM
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#4
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All Stars
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QUOTE(Zanmai0146 @ Jul 1 2015, 02:18 AM) Actually I'm worried to hand over millions to my kids, scare they will never learn. End up failure. Most nightmare is gamblers. That's why train them from small. Don't be a yes man to them. Learn to say no to them. If you become yes man to them, they will be spoil brat. Also teach them the value of money. |
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Jul 2 2015, 06:38 PM
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#5
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All Stars
24,334 posts Joined: Feb 2011
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Just out of curiosity. if I want to open a bank account in Singapore but I am just a visiting tourist, can I open? And then slowly transfer the money there. Little by little Say Rm10k/month. Will it trigger anything over Singapore or Malaysia's side?
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Jul 2 2015, 06:53 PM
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#6
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All Stars
24,334 posts Joined: Feb 2011
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QUOTE(Zanmai0146 @ Jul 2 2015, 06:46 PM) You can't have any bank account in Singapore unless u work/investment Or u got special side to help u to process it. So if I were to buy singapore reits, I can open a singapore account then? |
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Jul 2 2015, 07:16 PM
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#7
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All Stars
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QUOTE(AVFAN @ Jul 2 2015, 07:08 PM) u can get some info or ask questions about sg bank accounts here: I am not interested in buying their reits. If buying their reits so that I can open an account there, so be it. The reit is just extra bonus. https://forum.lowyat.net/topic/3600727#bottom u need not necessarily need an sg bank acc to buy sg reits or sg stocks. with local inv banks, u can now buy/trade sg, us, thai, indon and even hk/shanghai stocks. times hv changed with the internet. u just need to read, ask questions or talk to yr local inv bank broker. some options cost more, some less, some better service, some no service, etc. depends what suits u most.  I just want to park my money some where other than banks in Malaysia. Australia is among my choice but need to take a plane there. Closest is Singapore |
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Jul 2 2015, 07:32 PM
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#8
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All Stars
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QUOTE(AVFAN @ Jul 2 2015, 07:22 PM) if u just wanna park yr money in foreign curr, just go to a major local bank. I know about that. What I am looking for is account with a physical bank in another country.u can open a fx acc in many major local banks and deposit there. only that the interest rate may not be exciting. and... each time u withdraw or deposit, it MUST go thru rm exchange rate on that day. i.e. u CAN buy SGD or AUD in that acc but CANNOT withdraw in SGD or AUD cash from that bank - that is prohibited by Bank Negara. i suggest u search and read u in other threads as all of that has been discussed to death, better not hijack this thread. |
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Jul 2 2015, 07:48 PM
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#9
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All Stars
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QUOTE(AVFAN @ Jul 2 2015, 07:39 PM) 5pm closing bnm: Fitch ratings is of no help also. Less than 24h, rates went up again.3.776/3.780 |
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Jul 2 2015, 08:01 PM
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#10
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QUOTE(Showtime747 @ Jul 2 2015, 07:47 PM) If you are so worried about malaysian banks, instead of finding an offshore bank to park your money, you should be planning to migrate now. Because if all banks in malaysia failed, malaysia economy will collapse. If you are still in malaysia, you will most probably be unemployed, suffering from 50% inflation, and face riots on a daily basis ! The fact that Greece debts is about usd320x (don't know how many x are there) and malaysia is already at usd160x (refer to debt clocks)What makes you lose confidence in malaysia banks ? Second 1mdb. 1mdb is just the tip of the iceberg. Rm45b. How on earth are they going to pay back Rm45b? Even if they manage to settle 1mdb, something will come along again. Third. Inflation. Petrol price goes up. Prices of goods went up and won't drop again. Each time petrol goes up, the cycle is repeated. Fourth, not sure is true or not, malaysia borrowing money in USD to pay debts. One thing I know after reading all of Gen-X's post, borrowing money to pay debts is digging your own hole. Imagine borrowing personal loan, "quick cash" to pay your credit card debts on a bigger scale. Fifth, we are not USA, USA is in shit load of debts but because the world's trade is based on USD, there will always be demand for it. Also they are superpower of the world. Who dares fight them (apart from China and Russia)? Good to have a backup some where. Hope I made it clear. |
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Jul 3 2015, 03:47 PM
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#11
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QUOTE(Hansel @ Jul 3 2015, 03:24 PM) Congrats then,... AVFAN,... you were in time to catch the dip. Any idea which local bank offer the best exchange rates? I better exchange usd10000 before it hits 4. Need it to pay something next year.Anyway, wht we see on Bllomberg Finance or Yhoo Finance are the centre-points of the rates, very close to the Inter-Bank rates. An individual bank can put up its own Buy and Sell Rate below and above this 'centre-point', respectively. The diff between the Buy and the Sell of a particular bank is called the Spread. When you wish to buy the USD from, say Maybank,... you use the SELL number, because the bank is selling to you and you are buying from the bank. But if you have USD in hand after you returned from your trip to Washington DC, and you wished to change back into the RM for your local use, you look at the BUY number, because you now wish to sell the USD to Maybank who will normally be wiling to buy from you at their BUY rate. That's the general idea, concepts are similar at the money changers too. |
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Jul 3 2015, 04:44 PM
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#12
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QUOTE(Hansel @ Jul 3 2015, 04:39 PM) Try RHB,... Seriously la. I got something to pay. About usd10kWahh,..  if everybody in Msia starts doing what you are doing now, soon our kerajaan will impose some form of controls already. Actually according to Gen-X a while back, the controls are already starting to be enforce. |
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Jul 3 2015, 05:05 PM
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#13
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QUOTE(Hansel @ Jul 3 2015, 04:51 PM) Can you show me the link ? How is it being enforced now ? Here is some of it.I do know that procedrs hav always been in-place whereby everytime we need to send funds out, we must fill-in the Form P for the central bank, and the transmiting bank will want to see some proper paperwork to justify sending the funds out,. like the institution invoice, or supplier's invoice,... Are you talking about this procedure or is there a new procedure being put in place or added-in ? https://forum.lowyat.net/index.php?showtopi...&#entry72061921 https://forum.lowyat.net/index.php?act=findpost&pid=72350754 It might be a bit long as it is a post in the previous fd thread. QUOTE(Hansel @ Jul 3 2015, 04:58 PM) I think Ramjade needs to TT out the USD10K, so must use the banks. I know, I know,.. some money changers 'can do TT' also,... but that's being controlled now. Yup. You guess right. I need to do TT next year. But I am very sure next year will be Usd1= RM4. Might as well save some money where I can.This post has been edited by Ramjade: Jul 3 2015, 05:07 PM |
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Jul 3 2015, 05:29 PM
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#14
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All Stars
24,334 posts Joined: Feb 2011
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No I don't have USD account nor am I in the USD. Just that payment required in USD.
I am still open to ideas on how to open a foreign account.  That's why I am asking around, how to open an account in a foreign country. Don't tell me to fly to the US/UK. Too expensive. My best bet is SG, AU, NZ. At least have some backup in some foreign country.This post has been edited by Ramjade: Jul 3 2015, 05:30 PM |
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Jul 4 2015, 02:27 AM
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#15
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All Stars
24,334 posts Joined: Feb 2011
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QUOTE(Hansel @ Jul 4 2015, 12:29 AM) Are you a strong user (close client) of Maybank in Msia ? Quite some amt in Maybank Msia ? Yes. I am a strong user. All my online purchase goes through them. But unfortunately I am poor kid. When and apply for m2c last time at garden got rejected cause no salary. I don't have substantial amount in maybank. I put in money into there only when I need. Most of money is locked up in FD, as1m (mother's) Right now I have about Rm45k in m2savers which I am going to use to convert to usd in 2 weeks time. That's why I am asking for bank with best rates. |
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Jul 4 2015, 08:23 AM
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#16
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All Stars
24,334 posts Joined: Feb 2011
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QUOTE(Hansel @ Jul 4 2015, 08:00 AM) Try with Maybank Sgp. Tell them tht you are a loyal client with Maybank Msia. Let's see if they will open an accunt and USD FD for you. Plese PM the results of your try. One forummer earlier promised me to update me but after almost 2 months, no news. Singapore? There's no way no way I can go Singapore. I am not in johor. I am in selangor. Pls do update results. If you are talking about opening account in Sg,, then yes. I am willing to travel down to Singapore to open |
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Jul 4 2015, 09:41 AM
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#17
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All Stars
24,334 posts Joined: Feb 2011
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QUOTE(Hansel @ Jul 4 2015, 09:38 AM) My friend, yes, go down to Maybank Sgp fro them to see yr docs. Bring all possible docs along. Go to the HQ at Battery Road. Try yr best,... Hi,Thank you for your suggestion. I can only to do that 2 years from now (when I start working) |
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Jul 14 2015, 09:10 PM
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#18
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All Stars
24,334 posts Joined: Feb 2011
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Hi,
Just want to ask, we saw that bnm defended the ringgit at 3.8. So in the event US increase the rates, any chance it will go beyond 3.8? Cause the way I am looking at is bnm won't let it go pass 3.8. But we all know that can only happen if bnm have enough foreign reserve. Need your opinions |
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Jul 24 2015, 09:41 AM
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#19
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All Stars
24,334 posts Joined: Feb 2011
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So the RM will still drop.
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Aug 4 2015, 03:43 PM
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#20
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All Stars
24,334 posts Joined: Feb 2011
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QUOTE(OMG! @ Aug 4 2015, 03:03 PM) I hope it is not affected seeing the political turmoil now. ASB is under the purview of Ministry of Finance isn't it? Not 6%. 5% + 6% of that 5%And now, AS Gemilang is subjected to 6% GST charged for every unit purchase. I wonder how is the interest gained by now. |
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