4.0? Not likely.

opps... i think i got it wrong...

i think it means the "reserves" are actually in rm. so when the rate goes unfavorable, the rm becomes less in usd.

but this is strange... if i buy 1kusd at 3.5, my reserves is 1kusd and when rate goes to 4., i still hv 1kusd and gets bloated to 4k rm, right?

we are missing something here...

"fx reserves" are in rm and subject to rate changes?

Insider of the highest sources claims the political debacles encountered recently will be solved in the coming few weeks with concrete master plan set out that all assets of the Company have been ear picked for sale and negotiation with concrete purchasers are in very advance stages. Total proceeds from the sale will be more than enough to settle all outstanding debts, giving some sizeable profits, and thus eliminates the threat to the banking system and the currency. The most shocking breakthrough is a succession plan has already been agreed upon at the highest level by all interested parties and a smooth transition will be carried out to minimise damages to the image of the organisation, thus paving the way for next general election in order to consolidate the position of the new team. 

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?

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

USD may continue to trend down for near term, as Fed minutes last night disclosed that rate hike may not as soon as previously taught.

The moment many and more people bullish about USD, suddenly it turns due to Fed.

Sgd is going up against USD as well.

Is the following rumour sounds legit ?
Insiders with information rushing to convert their forex back to RM knowing the above news would be explosive ?

i think u r reading too much into that.

the worst hit em currencies are all recovering from a (maybe temp?) rise in commodity prices esp oil as a result of fed's "no hike for now" posturing and improved oil price outlook.

if u check rupiah and rouble, they gained against rm in this rebound.

which means the worst hit ones are recovering most.

rm is recovering in line with the just how bad it was hit in the last year.

of course, good gain vs usd, sgd, aud, euro, gbp, thb...

BNM revokes permission, wants 1MDB to repatriate US$1.83b back to Malaysia
http://www.nst.com.my/news/2015/10/bnm-rev...b-back-malaysia

Further upside for MYR?

It also issued a directive under the Financial Services Act 2013 to 1MDB to return the US$1.83bil to Malaysia and submit a plan to the Bank for this purpose.

But if 1MBDB come put with excuse, talk and talk, RM will tank again, no action.

You meant depreciate as when RM depreciate against the USD, 1 USD can change for more RM.

What is the direction of USD/MYR next week?

so what your TP on USD/MYR now?