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 USD/MYR drop, v3

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@secret@
post Jan 26 2016, 03:26 PM

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QUOTE(Hansel @ Jan 26 2016, 02:42 PM)
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,...
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Convert thru DCI?
Showtime747
post Jan 26 2016, 04:21 PM

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QUOTE(AVFAN @ Jan 26 2016, 02:25 PM)
midf also think srr cut did boost the rm last friday.

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While elsewhere, in China, analyst thought otherwise tongue.gif

QUOTE
China’s central bank has been pumping liquidity via new short-term lending tools, as bank RRR or benchmark interest-rate cuts may exacerbate weakness for the yuan.


http://www.bloomberg.com/news/articles/201...id-policy-shift


Conclusion : Analysts work backward. Their job is to tie the result back to the cause. And they conveniently pick and choose the most palatable cause of the day. Take their comment with a pinch of salt
AVFAN
post Jan 26 2016, 05:20 PM

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QUOTE(Showtime747 @ Jan 26 2016, 04:21 PM)
Conclusion : Analysts work backward. Their job is to tie the result back to the cause. And they conveniently pick and choose the most palatable cause of the day. Take their comment with a pinch of salt
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it is true there are all kinds of analysts, all kinds of critics, all kinds of commentators.

we all read it, take it with salt or sugar - that's up to one to decide. laugh.gif
Hansel
post Jan 26 2016, 06:34 PM

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QUOTE(wjchay @ Jan 26 2016, 03:00 PM)
Hi Hansel,

How did you manage to get SGD at 2.9980, can share?

I went to money changer on Sunday, only managed to change at 3.02. Today the money changer rate is 3.01.

Thanks.
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I can share these :-

1) on Friday, a big money-changer can unload SGD to me at 3.01.

2) on Saturday, the same money-changer can unload SGD to me at 3.00.

3) on Monday, managed to purchase at 2.9980 from above money-changer.

4) for comparison, on Monday too, two money-changers could offer me at 3.00.

The interbank rate hovered at around 2.9750 and 2.9815 in the middle of the day on Monday.
AVFAN
post Jan 26 2016, 06:38 PM

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QUOTE(Hansel @ Jan 26 2016, 06:34 PM)
3) on Monday, managed to purchase at 2.9980 from above money-changer.
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i think it's a pretty good rate. well done!

of course, the bigger issue is about how to "use" it. biggrin.gif
Hansel
post Jan 26 2016, 06:42 PM

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QUOTE(AVFAN @ Jan 26 2016, 06:38 PM)
i think it's a pretty good rate. well done!

of course, the bigger issue is about how to "use" it. biggrin.gif
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Tq AV,...I need to thank the money-changer too for being willing to unload his SGD for me. Perhaps he thinks the SGD may depreciate soon, when April comes and the MAS lowers the band for the the SGD is traded upon,... due to the weakening economy. We never know how they think,...

Now,.. with the ammo in, need to load-up on,.....

1) ...
2) ...
3) ...
AVFAN
post Jan 26 2016, 06:44 PM

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QUOTE(Hansel @ Jan 26 2016, 06:42 PM)
Now,.. with the ammo in, need to load-up on,.....

1) ...
2) ...
3) ...
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please share in the xyz thread.

i have some more sgd to "use". tongue.gif
Hansel
post Jan 26 2016, 06:58 PM

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QUOTE(AVFAN @ Jan 26 2016, 06:44 PM)
please share in the xyz thread.

i have some more sgd to "use". tongue.gif
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OK..
Hansel
post Jan 28 2016, 11:17 AM

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It's 11.15 am now,...another 15 mins to the Budget Revision in KL. As we speak, the MYR continues to strengthen. Readying ammo,.... readying contacts,....
Hansel
post Jan 28 2016, 11:18 AM

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Interbank Rate now - 2.9583.
Showtime747
post Jan 28 2016, 12:22 PM

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BBB !
Hansel
post Jan 28 2016, 12:26 PM

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QUOTE(Showtime747 @ Jan 28 2016, 12:22 PM)
BBB !
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Not yet,...steady,... sweat.gif
Ramjade
post Jan 28 2016, 12:29 PM

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QUOTE(Showtime747 @ Jan 28 2016, 12:22 PM)
BBB !
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What does that means?
Showtime747
post Jan 28 2016, 12:32 PM

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QUOTE(Hansel @ Jan 28 2016, 12:26 PM)
Not yet,...steady,... sweat.gif
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Buy in batches, bro. I know I am won't be able to buy at the lowest tongue.gif
wu ming
post Jan 28 2016, 12:40 PM

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QUOTE(Showtime747 @ Jan 28 2016, 12:32 PM)
Buy in batches, bro. I know I am won't be able to buy at the lowest  tongue.gif
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Will this strengthening only be permanent?

I guess the money changer will be sold out of "hot" currency notes by today.
Showtime747
post Jan 28 2016, 12:43 PM

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QUOTE(wu ming @ Jan 28 2016, 12:40 PM)
Will this strengthening only be permanent?

I guess the money changer will be sold out of "hot" currency notes by today.
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Nobody can answer your question tongue.gif

Depends on your personal view on the RM in short or long term
Hansel
post Jan 28 2016, 12:48 PM

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QUOTE(wu ming @ Jan 28 2016, 12:40 PM)
Will this strengthening only be permanent?

I guess the money changer will be sold out of "hot" currency notes by today.
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Acknowledge this one first,....roger that ! Soon,.. need to do booking already,...
Hansel
post Jan 28 2016, 12:50 PM

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QUOTE(wu ming @ Jan 28 2016, 12:40 PM)
Will this strengthening only be permanent?

I guess the money changer will be sold out of "hot" currency notes by today.
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Won't be permamnent,.. same phenomenon seen during last BUdget Ann't,... history is repeating itself all over again. We can predict history now,...
Hansel
post Jan 28 2016, 12:54 PM

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QUOTE(Showtime747 @ Jan 28 2016, 12:32 PM)
Buy in batches, bro. I know I am won't be able to buy at the lowest  tongue.gif
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Bro,.. save your money,.. it will dive further,..extrapolate the Yahoo graph,...
nexona88
post Jan 28 2016, 12:54 PM

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QUOTE(Ramjade @ Jan 28 2016, 12:29 PM)
What does that means?
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buy buy buy biggrin.gif tongue.gif
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