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

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SUSsupersound
post Apr 23 2015, 09:41 PM

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QUOTE(MNet @ Apr 23 2015, 08:28 PM)
why last time we can peg rm3.8=usd1

now cannot?
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What if the rm dropping are controlled by some people?
Sure they don't want to see this to happens.
SUSsupersound
post Apr 24 2015, 12:07 AM

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QUOTE(AVFAN @ Jan 6 2015, 11:23 PM)
it's not that the banks want it, but market forces demand it. until u put capital controls.

the rm was freely traded overseas before. when the currency attack got underway, the rm was heavily sold overseas.
overseas banks were offering 15-20% int for rm becos they know the result will be the rm will lose 30% value or so when it is done.
thai baht, indon rupiah same result.
i can tell u at that time, some people were carrying bags of rm on the plane to deposit offshore.

actually even now, weak economy countries have int rates >10% like brazil, argentina, nigeria, russia.

u can read more here as to how it happend - credit bubbles, hot money, etc...
http://en.wikipedia.org/wiki/1997_Asian_financial_crisis
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Your reply reminds me on negeri MB trying to bring few million out last time.
SUSsupersound
post Apr 27 2015, 01:29 PM

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QUOTE(Hansel @ Apr 26 2015, 10:24 PM)
There are three main ratings agencies. I would not trust thm even if all three gave it an AA+ (or the equivalence among the othr two). Moodys said outlook positive. Moodys said the same thing abt Bear Stearns and Lehman Bros one month before they fell, thn immdiatly changed the putlook after that, and the two companies fell.

Fitch said negativ.

I say stay away. No need to comment abt who I votd for for this is business. Diff frm politics.
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Those rating agencies are paid by speculators, so if you want Singapore to have DDD also can whistling.gif
SUSsupersound
post Apr 28 2015, 04:30 PM

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QUOTE(Hansel @ Apr 28 2015, 03:42 PM)
Okaylah, we all can say wht we wantd abt the rating agencies. But without proof, thn no case-lah... What that concerns invstors is tht the mrket in general is always forward-looking, and one of the indics used by the market to do this are the ratings called out by these ratings agencies.
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No speculations = no profit making whistling.gif
SUSsupersound
post Apr 29 2015, 01:28 PM

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QUOTE(nexona88 @ Apr 29 2015, 12:34 PM)
u could be right..

weak USD + BNM intervention contribute to stronger MYR  rclxms.gif
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Still weak against SGD, so BNM now are more on kakikong, kakisong whistling.gif
SUSsupersound
post Apr 29 2015, 02:21 PM

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QUOTE(nexona88 @ Apr 29 2015, 01:47 PM)
cannot be stronger against SGD because we needed those from the Island to spend their money here  sweat.gif
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Nope, the rightful way is rm1 = SGD2.5.
But again, we have 2 different government to rule the country, 1 is with intention to songlap while another is to build a country whistling.gif
SUSsupersound
post Apr 29 2015, 04:00 PM

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QUOTE(nexona88 @ Apr 29 2015, 03:47 PM)
hope next time choose wisely  laugh.gif
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Let's wait and see.
SUSsupersound
post Apr 29 2015, 04:18 PM

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QUOTE(Hansel @ Apr 29 2015, 04:10 PM)
I rathr follow fundamentals with a small mxture of technical analysis. But thtèsme. Never by speculatng.
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Economy fall or raise is by speculations basically. Is matter if you are the person that does the speculation or being speculated.
Obviously, most are being speculated shocking.gif
SUSsupersound
post Apr 30 2015, 08:58 AM

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QUOTE(Artus @ Apr 30 2015, 02:35 AM)
The ringgit doesn't need to be strong against the Singapore dollar because we don't really need to buy anything that originated from Singapore for consumption but the Singapore dollar must always be strong against the ringgit because they need to buy a lot of stuffs from us for consumption.
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Nope, weak currencies no matter what is not good for us.
SUSsupersound
post Apr 30 2015, 09:11 AM

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QUOTE(Kaka23 @ Apr 30 2015, 09:03 AM)
Agree
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But once you are a foreign labor in a particular country, you die die hope it will be strong against rm.
On my last 3 months working in Qatar, the weak rm/riyal period I gained about rm300 each month extra.
Not to mention my friend that taking USD salary, he gained extra rm0.50 for every USD changed. He got about USD30000, that's rm15000 extra when he changed to rm back:w
SUSsupersound
post Apr 30 2015, 09:15 AM

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QUOTE(Kaka23 @ Apr 30 2015, 09:12 AM)
:
shocking.gif

cry.gif  why so many rich people out there with nice job!!
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He never change the USD first, he already worked for 2-3 years there.
SUSsupersound
post Apr 30 2015, 09:26 AM

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QUOTE(Kaka23 @ Apr 30 2015, 09:19 AM)
Already multi millionair la
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Not so fast, as he like to live luxury.
Just got a Toureg last year.
SUSsupersound
post Apr 30 2015, 09:32 AM

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QUOTE(MR_alien @ Apr 30 2015, 09:30 AM)
toureg...i drive local only cry.gif
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Toureg full spec are only rm170k in Qatar whistling.gif
SUSsupersound
post Apr 30 2015, 09:55 AM

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QUOTE(psyduck89 @ Apr 30 2015, 09:53 AM)
if he change back to rm..

he will be risking his money to vaporize...
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If local consumption, nothing much will happen.
So don't simply spread rumors.
SUSsupersound
post Apr 30 2015, 10:03 AM

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QUOTE(psyduck89 @ Apr 30 2015, 09:59 AM)
I bet the price of living there will be better than here..

so, why he would spend all his money here laugh.gif
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A chemical coffee sold in Qatar is rm17 while in Malaysia is rm16.
His salary is rm30000 now compare to last time of rm9000 when he still in Malaysia.
But again, he is still a Malaysian, so have to come when the time comes.
SUSsupersound
post Apr 30 2015, 12:20 PM

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QUOTE(psyduck89 @ Apr 30 2015, 10:08 AM)
can he be my godfather..
brows.gif  brows.gif

btw,
local safety is also an issue right.. rclxub.gif
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What type of safety/security you are talking about?
I can take out 5000-10000 with people watching behind also feel safe.
My friend that bought his Toureg bring all cash to the dealer laugh.gif

QUOTE(Kaka23 @ Apr 30 2015, 10:26 AM)
How much is Toureg in the Middle East?
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Freaking cheap, rm170k only.

QUOTE(MR_alien @ Apr 30 2015, 10:45 AM)
i know...no tax there cry.gif
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Have tax, but no AP whistling.gif
SUSsupersound
post Apr 30 2015, 02:03 PM

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QUOTE(nexona88 @ Apr 30 2015, 12:45 PM)
another round of price increase  vmad.gif

btw already fill full tank for my car tongue.gif
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Unlikely as we got 2 bi-election, I guess no price increase for May.
SUSsupersound
post Apr 30 2015, 02:07 PM

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QUOTE(Hansel @ Apr 30 2015, 02:05 PM)
Another point is if you have quite some invstments in SG, and hold a lot of SGD, thn you would prefer the SGD to continue strenghthenng vs the RM. Stay in MY, but invst in SG.
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That if you are working in SG, if long term in MY, hard a bit to monitor.
SUSsupersound
post Apr 30 2015, 03:07 PM

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QUOTE(Hansel @ Apr 30 2015, 02:19 PM)
Generally, if one stays and works in a foreign country, the incme he earns from tht country wil be spent (matched) against the purchasing power capability of tht country. And agin, generaly, it will balance off, ie earn more, spend equally more.

A positive difference can ONLY be observd if he earns an income from a stronger exchange country, BUT spends that incme in a weaker exchang country.  hmm.gif  hmm.gif  nod.gif

I am open to criticisms.
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Assuming rm1=1 riyal
1kg of Salmon whole fish only need rm30-45
1kg of local vege only rm2-4(if getting imported will be rm20-40)
water 1 gallon rm5, 1 family of 5 need 2-3 bottles a day, so rm15, middle east pipe water cannot be used for drinking
meat are relatively cheap, rm10-20 per kg
The spending in Qatar are quite cheap if you cook your self. But once you ask others to cook, it will be more expensive than Malaysia.
Been worked there for 1 year, average about 90% from my salary were unused. Accommodation usually are paid by company including utility bills.

QUOTE(Hansel @ Apr 30 2015, 02:21 PM)
No, supersound,... I hav done the monitoring via long-distance for MANY years. And it works. Donèt talk about SG only, but even faraway countries. The internet has everything.
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Yup, but time is consumed. I won't use the money to buy my health back. For me, I'm not greedy icon_rolleyes.gif
SUSsupersound
post Apr 30 2015, 03:10 PM

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QUOTE(Artus @ Apr 30 2015, 03:05 PM)
Weak currencies no good no matter what? Then why so many countries try to devalue their currencies in order to boost their economies? Japan and EU are two very good examples.

What good is a strong currency for us if nobody wants our products?  If China and India can buy cheaper palm oil from Indonesia, why would they buy from us?
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Japan debt to GDP are at 244%.
EU basically already bankrupt, just that they refuse to declare it. UK allow people to clean dirty money by buying properties.
Both of them do devalue their currencies. So, good or no good whistling.gif

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