This you need to ask the speculators from other countries. Like crude oil they are saying "can reach $30" on last year, it is late by 15 days but very fast touches $27. 1st this year also another joker saying it will reach $18 this year.

I came across some analysts said can as low as 10... 

After 50+ years of mismanagement, even if the existing government is removed, it will take a very long time for us to recover.

Look at today, what else Malaysia has to earn forex other than O&G?

Our heavy industries vision is dead by now.

Our plantation (rubber, palm oil) are not competitive.

Our SME are all dead in favor of government policies. If you happened to see Malaysian company in overseas expo, you will see how pathetic we are.

Service industries can't compete with India / Singapore / HK.

Software industries (Cyberjaya) now is Cybargagal.

Banking industries can't compete with Singapore.

Tourism is not doing as well as Thailand / Singapore. People visit Malaysia just because they visit Thai / Sgp, or transit in KLIA2 because of cheaper flight.

Even our future hope (University grads) are all rubbish.

But how to keep foreign currency in Malaysia? I have 50K USD last month, but have to exchange 6K asap to get rid of all those old notes. The rest still kept in the bank with no interest.

Bank Negara Malaysia (BNM) Governor, Tan Sri Dr Zeti Akhtar Aziz, said Malaysia used to be an export-led economy in the 1990s but it is no longer so.

http://www.nst.com.my/news/2016/01/123589/...fforts-economic

Implying in the long term, there could only one direction for myr to move.

"It was driven by domestic demand for more than a decade that saved us. This is why we have five to six per cent growth, even in the aftermath of the global financial crisis. It is because even though our trade contracted, our domestic demand drove our growth," Zeti said in an interview on The CNBC Conversation conducted in Hong Kong at the Asian Financial Forum. The interview was conducted by CNBC Asia's Bernard Lo. To a question that Malaysia did not get enough exposure on its economic restructuring, Zeti said: "I believed that Malaysia, including BNM, would make every effort to do so." "But another factor is that we are a country that hasn't borrowed significantly from the international capital markets," she said.
Read More : http://www.nst.com.my/news/2016/01/123589/...fforts-economic

USD-MYR 4.2700  -0.0228  -0.53%

today public holiday, bnm closed.

figures will be more accurate tmrw.

BNM closed also figure on myr side

for today, on xe.com:
http://www.xe.com/currencycharts/?from=USD&to=MYR&view=1Y

it is driven by foreign markets... crude price, rmb...

4.250 is possible, but i think will hard to be better than that.

what is the outlook for MYR? Are we that resilient towards oil prices? But then again many big players are not showing signs of cutting oil production.. Just when I was about to cut my studies abroad short, the USD seems to be recovering... $@#!!

yes, i am of the view today's srr cut led to improved liquidity->incr confidence->incr fx inflow->lower mgs yield, rm appr.

add oil price +7% within 24 hours has an effect too.

MIDF Research also noted that the ringgit was the biggest gainer among Asian currencies last Friday, up 2.07% against the US dollar. This was also its biggest one-day gain against the greenback since June 21, 2010.

“The ringgit was clearly buoyed by Bank Negara Malaysia’s decision to reduce the statutory reserve ratio, which we estimate will release RM6.2 billion into the banking system,” MIDF Research commented.
http://www.theedgemarkets.com/my/article/f...est-four-months

I think change-over half of what we have positioned for today. Then if it drops further tmrw,... change over the rest.

Then watch for Thursday,....

midf also think srr cut did boost the rm last friday.
did u manage to get a good rate?

public holiday yesterday

today, back to 4.29.

crude <30 again.

Hi AV,... managed to convert into the SGD yesterday at 2.9980. Did not convert any into the USD this time round. I feel I need to focus a bit more n the USD for now because the liquidity of the SGD in Msia is getting lower. Money-changers seemed to be hoarding the SGD, holding-on to the currency.

Edited because was informed wrongly of the rate used to exchange my funds yesterday. Corrected,...