US people earn USD, whether it rises or drop against other currency, it doesn't matter when the goods is quoted in USD.
An Iphone cost $549, will still cost $549, whether the USD is at RM3.30 or RM4.20.

But for in term of pricing RM, it is not the same case.

Everyone feeling the USD strength, no escape from it.

But US people earn USD, aka US consumers can buy more goods from others due to its strength.

Currency is traded in pair, when one currency rise, another must drop. If not how can it rises?

BNM international reserves up USD 700 mil to USD94.6 bil as compared to earlier data.

The chance is almost near zero

1. Inflation is subdue in Sg. In fact, it is on deflation territory with CPI registered negative number for some months already.

2. Growth is mild, and with strong Sgd, there is no reason to raise rate.

Read the word "set", means prediction/projection ahead made by analysts or investment banks.

Almost all currencies are slipping against USD for today, not RM alone, while RM vs other currencies generally is quite stable across.

Unless you buy USD, if not, it makes little different.

USD shoot up across against all currencies.

Investors always flee to USD if there is such an event.

You already answered yourself.

Peg - fix currency with USD, so USD rise against others, HKD will follow the same magnitude.
If not, investors will take opportunity to arbitrage already to earn free money.

Today it is a strange day for RM.

Oil plunges severely.
Most currencies drop against USD.
But RM rise against USD.

Grass is not necessary greener on the other side.

Malaysia banks that are well run, their fundamental are not bad, in fact on par with some developed countries famous banks, and they may have lesser exposure to risky asset especially for the like exotic derivatives etc, due to Malaysia banks are more conservative compared to others developed country banks.

Local banks have foreign currency account/time deposit, you can easily exchange RM to USD AUD, JPY, GBP and deposit into those account, while DCI is also easily available across banks to mitigate the risk of RM. You do not need to go to oversea to have a foreign currency nowadays to hedge against RM if one views RM is weak.

Foreign currency deposit in local banks are ten of billions and is still increasing, latest reported by the media, total worth more than RM70 bil equivalent.
http://www.thestar.com.my/business/busines...ggit/?style=biz

This post has been edited by cherroy: Jan 8 2016, 08:39 AM

It is an extra boost to USD.
Now USD is like the "king" of currency. Everyone devalue against USD.

When Yuan devalues, it put more pressure on emerging countries currencies.

You also can have a strong currency, but a poor bank.

See how banks nearly collapse in those developed countries (even a few name famous worldwide well known banks) during 2008 financial crisis, despite with a super strong currency.
Greece also is using a strong currency aka Euro, so good to fly there to make a deposit?

You do not need directly go to overseas to mitigate the RM depreciation.
There are plenty of financial tool that can serve this purpose. eg.

1. Have a USD time deposit with local bank.
2. Invest in global UT that act as feeder fund to USD denominated mutual fund at overseas.
3. Invest in foreign equities directly, as nowadays there are many investment offering such a service already.
4. Invest in foreign ETF.
5. Invest in KLSE stocks that benefit from RM depreciation.
etc.

This statement coming late many months...

Even many forumers here posted the same statement months ago...

Aud prospect is not that rosy either, there is potential rate cut for AUD as well in the near future if economy data is sluggish.

The only seems strong one at the moment is USD for near future.

For long term future, I do not have crystal ball.
Financial market and economy is always behave unpredictably one.
Who ever taught oil is going to USD 30, when it shoot up USD120 back 2006 time.

Remembered the story 10 years ago, oil is finite, would dry up one day, oil price has only one way that is up?

If there was one person who has crystal ball 10 years ago and said oil price will be USD30 when 2016, the person might be deemed need to go to hospital to have a mental health check.

Unreliable means the figure is not that accurate reflecting the actual condition.

Eg.
If the figure reported is 6.5%, the actual condition out there may be 3 or 4% something like that.

All GDP data are not exactly 100% reflecting the actual situation, as we know some data may overstate or understate due to various reason as well as how the data are pulled in to compute aka sampling, but it does give good rough condition of the economy if the data being compiled time is close to to actual situation, this is what we call a reliable data.

Eg, A multi-national company has 50 branches across the world. 40 of the 50 branches manager overstate their sales figure through various accounting method, estimation or whatever so that they can get performance bonus, then when the HQ compile the data time, it shows promising good sales figure, but actual situation may not as rosy.

In this case, the HQ doesn't fake the figure, but the sales figure compiled is not reliable.

If Custom found out, money confiscated...
Penny wise, pound foolish?

Most countries practice limit of physical currency can be brought in/out from a country, violating the law, money confiscated and may be charged as money laundering as well.

If you bring 500k cash just for holiday, surely raise the Custom's suspicion already.

Just write what is your intention loh.
If it is holiday, then just write as holiday
If just for paying school fee then just write.

I don't see what is the concern, just a procedure, even you want to keep for fun or collection also can.

If for investment, just write investment.
There is no restriction that bar people to do investment abroad.