You can open foreign currency accounts with the banks in malaysia. After that, you can buy/sell at bank rates, or use DCI to convert at spot rate

I also have accounts in other countries. The malaysian branch of the banks helped me to open those overseas accounts so I don't need to fly there. But I think you have to have certain minimum amount to do that. After opening those accounts, you can transfer funds between those overseas account via internet/phone/email/fax/whatsapp depending on the banks' SOP

That is why we call it 'hidden hands'. And not intervention by the central bank.

The funds to support the RM may or may not have come from BNM.

Couldn't wait for them to finish their business

RM should have breached 4.50 easily if everything go according to fundamentals

End of the day, if you are not rich, you cannot open those account in another country from Malaysia. If opening a foreign account in malaysia, it still makes no difference as the money is still in malaysian bank.

Looks like for not so rich people, the only hope is to fly there and open from there. Rather than having a certain limit with certain banks.

This post has been edited by Ramjade: Jan 7 2016, 07:00 PM

Old birds do try hard to tell the birdlings.

Please don't. Let Aud sink to 0.65 first.....

The biz will never be finished.

As long the crooks get the blind support, it will be the same or worse.

I agree 4.50 will be the average for next 2 years; the fundamentals are getting weaker as more money and talent get chased out.

When we get nearer to ge14 in 2018, there will be some manipulated movement attempted.

But alas, small economies with little to show can't do much.

This post has been edited by AVFAN: Jan 7 2016, 07:14 PM

Use foreign banks in Malaysia as compromise. For small amount it is not worth the trouble to fly out of the country to open bank accounts.

Anyway, I don't think the financial system in Malaysia will collapse. So banks in Malaysia are still safe.

waiting for US market better

You have SGD holdings so you no problem lah

Exactly. With the current development, it's just a matter of time RM will drop further.

Please don't ! I play the carry trade. The AUD must stay above 0.6900, at the very least,....

so china depreciate their currency again today, affect global currency.

More like affecting EM currencies,....

Banking system is the least of our worries. Imagine myr becomes as bad as rupiah. Heck, even rupiah outperform us.

Highlight: Bank Negara's foreign reserves fall 17.8% y-o-y to US$95.3b as at end-2015 | The Edge Markets

This post has been edited by @secret@: Jan 7 2016, 07:47 PM

very bad

Hidden hands uses money from bnm?

This post has been edited by Ramjade: Jan 7 2016, 08:49 PM

I like that - i hope USD gets to 4.7 to 5.0 range - about time for USD to regain strength!

If you are not worried about malaysian banking system, why do you insist on opening a bank account overseas ?