Oil 39.94

RM appreciates from last week's closing price

Something is happening behind the scene. Or it must be some magic in play

Really cannot brain

Just when I thought RM has correlation to certain commodity and news, it worked just the other way round

I have seen many economists from different banks telling the same reason previously, but when their theory doesn't work, they come up with another theory to justify the direction. Those bankers really SKL

Ya. Most of the time market reacts the opposite. If not, economists will be the richest person

You sure you don't want to wait for 4.10 ?

While we talk about this as jokes, but "someone" actually think so and sleep very well with a fat woman beside him

That is very true

To keep the economy and RM at healthy level, it takes a lot of effort. To destroy it, we just need some idiots, as proven

Unker dreamer101 has extended his prediction to Jan 2016 when TPPA is scheduled to sign (according to him). Don't know whether TPPA is still relevant to RM or not now. But let's give unker benefit of doubt

On hindsight, looks like those who stick to ASx in Sept/Oct made a good decision to stay put. If they ditched RM and invest in US$, they would have bought at the peak and made a loss of about -3.3% in 3 months.

Again, there should be timeframe to a prediction. Only then we can judge the prediction is good or bad like in this case

I am still around

Over the last few months, the RM behaved like "magic". When it should depreciate/appreciate due to oil price/political circus show, RM moved the opposite. I have been talking about it, but you don't believe. "Something behind" was happening which caused the "magic" in the last few months

Most people only believe in the market machanism (fundamental). And analyst's comment after the event can always "explain" why it happened. When RM depreciated, analysts say that is because oil price dropped below $50. But when oil price dropped below $40 and RM appreciated instead, the analysts got something else for explanation

Analysts can always explain (but only after the event). But in some cases, it was the hidden hands which manupilated the market and caused the magic. If everything moves according to a set rules like the analysts say, then it will be easy to make money in the market. The analysts don't need the analyst job anymore.

The magic actually come from the rumour on "the company". The 1st part of the rumour came true exactly according to script. Now let's see the second part, which is even more "earth shaking", will come true. If that happens, it should occur before GE14. Maybe 1 year before mid 2017, or even earlier ?

For those who missed the opportunity to convert RM to USD at 4.2xxx, I think there will always be another opportunity. But the usual problem is when RM back up to 4.2xxx, he will wait for 4.1xxx instead Usual psychology and that's why people miss boats.

Magic --> cannot be explained by the usual fundamentals

This was the rumour I received which was posted here in early October when RM appreciated from 4.4xxx to 4.1xxx while oil price remained at around $45 during the period

Good strategy for short term.

In long term, I am converting RM to USD/SGD/AUD/GBP regardless of the rates. With not so good prospect on the malaysian economy (and hence RM) over long term, averaging out over the years will still provide forex gains

The 1st part of the rumour came true.

Now is the second part. Like the first part when I post up here, most people don't believe "the company's" problem can be solved in such short time. But it did

So, now the second part is also very hard to believe. Not many believe he will relinquish his post now. But overall for his organisation, it would be better off with him vacating his seat

Old bird like you understand the whole picture

But you can see in this thread there are many people still asking whether it is a good idea to convert their RM to forex. They find it hard to understand the gloomy future they are facing

You call it "strange". I call it "magic"

This happened before many times just last 2-3 months ago. It is "fundamentally defying" due to "hidden hands".

6.38pm

6 Jan 2016 10:30 UTC - 7 Jan 2016 10:35 UTC
USD/MYR close:4.39006 low:4.38230 high:4.43676

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

Couldn't wait for them to finish their business

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

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.

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.