Closing was 4.0760  as per BNM @ 5pm today

short term maybe.. long term like 3-10yrs malaysia is technically hopeless

Still stubborn to cross 4.10 mark

Finally crossed 4.10 mark today

Bank Negara Malaysia (BNM) said a new spot fixing methodology for US dollar/ringgit trade, based on market transaction data, will be implemented from July 18.

In a statement today, BNM said that under the new methodology adopted by the central bank and the Financial Markets Association of Malaysia (FMA), the reference rate will be known as the Kuala Lumpur USD/MYR Reference Rate.

The move is part of the effort to adopt global best practices for the domestic financial market, BNM said, adding that another measure involves the expansion of the official closing hour for onshore ringgit market from to 6pm from 5pm.

国家银行进一步放宽马币汇市交易，每日闭市时段，从下午5时延长至6时，以更加贴近国际外汇走势。

同时每日银行间的马币参考汇价，将是以早上8时至下午3时的汇兑行情加权计算。

http://www.theedgemarkets.com/my/article/b...t-trade-july-18

 

Hope it goes to 3.8 in 2 weeks time !