Hi Guys,

I am recording my account but unsure how do I record this transaction:

- Convert RM80,000 in my Ringgit into my USD account
- Conversion Rate RM3.76/USD
- I received USD21276.60 in my USD account.
- There is no currency exchange gain or lost.

How to I record this transaction? what I can think of is:
Riggit Account credit: 80000
USD Account debit: 21276.60

But the issue is it does not seem balance. Can you please help?
Thank you!

anyone got the data for this?
If
"A", placed in RM 1000 in FD with Malaysian bank in year 1985 till 2015 (or 10 years at least)
"B", placed in RM 1000 but converted to SGD and placed in FD with S'pore bank in year 1985 till 2015 (or 10 years at least)
which one got more now?

differential of 8.7%...

an indication more rm depr towards 3.0 ex rate coming?

thanks for the compiled data....appreciated it very much...it proved/showed some things.
btw, "Bercukur"...??? 

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?

I know about that. What I am looking for is account with a physical bank in another country.

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)

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.

Stronger ringgit by year-end?
http://www.thestar.com.my/Business/Busines...rend/?style=biz

Very true but it's happening now in Malaysia

I believe he will not stupid until that level.. Everything will be clear soon, whose will transact so big amount into that account just to frame a person?

I wonder MYR will goes up to 3.80 or not on monday

Msia main GDP export are 1) semiconductors and electronic equipment, 2) palm oil, 3) petroleum and liquefied natural gas, 4) wood and wood products,  rubber, textiles, chemicals, solar panels. For high cost of petroleum digging and with low petrol price, why need to meet the equilibrium ? As long as export in # 1 and # 2
are still sustaining, country economy grow should be meeting 4% this year. TOP 3 WORLD credit rating agencies gave below grade M'sia on its credit :- 
Standard & Poor's:-
A+ (Domestic)
A- (Foreign)
A+ (T&C Assessment)
Outlook: Stable
Moody's:
A3
Outlook: Positive
Fitch:
A-
Outlook: Stable

Weak RM help on Export than Import and TOURISM Business here.

1)  https://www.cia.gov/library/publications/th...ok/geos/my.html
2)  https://en.wikipedia.org/wiki/Economy_of_Malaysia
3)  http://www.tradingeconomics.com/malaysia/exports

Expect USD will be higher and higher coming years, as USA Central Bank (FED) going to raise interest rate, as major hedge funds/investment companies
will sell emerging/developing country stocks and put their $$ work harder in US Stock/Equities/Bonds to generate higher yield (Return of Investment).

SPECIAL NOTE:- What you seen in WhatsApp, FB or other social networking (with PHOTO EDIT) doesn't picture the right information. Have a great day.

the theory should be applicable to all countries. Why got exception?

Will be going to the UK next year. So, am quite worried with the current situation. As of today 1 gbp= 5.88 myr. Do u guys think that the aforesaid currency exchange will be better by next year or worse? 

Uncertainties cloud ringgit’s true value
http://www.thestar.com.my/Business/Busines...alue/?style=biz

When v can expect those uncertainties disappear?

Unless the situation is so desperate, it is unlikely for BNM to follow US increase in interest rate, as by doing so, it will compound the pressure for business cost across with newly GST + rise in interest rate that may hamper the economy growth significantly.

BNM won't intervene forever, the recent intervention is needed because the drop is simply to fast, whereby they need to "calm" the market by stablise it.