1.00 USD = 4.18090 MYR

1.00 SGD = 2.96560 MYR

1.00 GBP = 6.40111 MYR

Is the following rumour sounds legit ?



Insiders with information rushing to convert their forex back to RM knowing the above news would be explosive ?

Sounds logic
Need to trade cautiously as market is flush with news to navigate the price movement

Showtime747,

Let's ASSUME all of the above is true. How will that solve any of the Malaysia fundamental economic problem??

It will not. It will still be MAFIC. In fact, it will make sure that no economy reform will happen since BN will still be in power.

<<Insiders with information rushing to convert their forex back to RM knowing the above news would be explosive ?>>

Really?? RM strengthening will give people opportunity to move more money out.

Dreamer

u hv said this a million times.

u r becoming exceedingly annoying.

If this factor is taken off, MYR should be at par with Thai Baht ie MYR/Baht=10 or USD/MYR=3.60.

Also hope that a unity govt will take over and all citizens will work to strengthen the economy.

http://www.thestar.com.my/Business/Busines...oint/?style=biz

Tens of billions of USD going to convert back to MYR?

This post has been edited by MGM: Oct 8 2015, 03:02 AM

AVFAN,

1) And, somehow, people still do not get IT.

2) Being annoyed is better than not survive.

Dreamer

MGM,

You need to learn to read between the lines. Aka, what they did not tell you.

A) The 11 billions MGS was over-subscribed. Okay, by whom?? Local or foreigner?? They did not say. If it is by local buyer, that means foreigner is not buying.

B) Yes, the FX reserve was up by 9/15, But, it went down by 9/30 again. So, why they do not use the latest number?

Dreamer

That's why forex is very high risk. And reacts to the slightest news or rumours

Noted.

Next time after I wrote something remotely related to RM "good news", I will add in a P/s to write "InB4 unker dreamer will say.....{insert the usual comment}...."

I have suggested him to put his argument in signature so that he doesn't need to physically type them out again

If the rumour is true, then very possible.

We had had oil money rebounded back to the US$60s a few months back, but no such rebound to RM at that time. Yesterday only a few dollars and the effect is so great ?

We had had our reserves numbers improve in Aug, but no such rebound to RM. Yesterday reserve reduced announcement is actually bad news, and yet RM turned for the better despite the bad news.

TPPA ? We don't even know what are they in relation to Malaysia. And people relates it to the RM rebound

It was a mystical day yesterday. Something must have happened. Could be the rumour, could be not but something else. But we will see if RM rebound will fissile out this 2 days. If RM continues to rebound, then something is cooking....

This is one good piece of news for those SMEs which have credit purchases in USD without hedging. This will reverse the exch rate loss they have been suffering esp the last few months.

I hope you can stand up in a public. Say you're dreamer and then participate in GE. Confirm u win 99 la. Don't waste the chance tok kok sing song play ping pong here....

Do you ever agree on some good news that relate to MYR?

I have to say the country is in deep shiat now. But don't you hope it will turn out better in a couple of month? If a country man doesn't believe in his country. What's the point of living in it? That's the point. That is why you can see alot alot of people is opposing now! Including those opposition leader. They can be like you to move out of this country, because they have the ability to do so. Why they still fight for it? Until may be end up in cell? Because they care.

Small citizen like many of us here also want to move out of this country. But we don have the ability yet. And the world outside isn't any good also. I have couple of family member migrated to AU. As a professional some more. So what? The local still bully all day long... Even he is doing better job than any other local.

The grass isn't always green on the other site. Just fyi.

Don't see much co-relation btw Oil n USD/MYR.

Most likely cos of the 2.6b issue.

This post has been edited by MGM: Oct 8 2015, 08:02 AM


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I doubt the rumour is the cause. The Ringgit is not the only emerging market currency that appreciated yesterday.

Ya although RM is the star of the day, just take the rumour as rumour. Many speculators die in the hands of rumour

I think the things mentioned in the rumour is the wish of the people and businesses wanted to see. It would be good if the rumour becomes true. That would solve a lot of problem

While those who can, should diversify anyhow. Just to buy "insurance" and play safe.

Yeah, the issues have to be resolved in some way. And hopefully it will happen sooner rather then later.

Sounds like those ministers who said "our currency is not the only one depreciated". It is the quantum.

This post has been edited by MGM: Oct 8 2015, 09:25 AM

Was our quantum of appreciation yesterday significantly different?