USD1 = 4.3022

Reach 4.44 i will remit another USD10k back to malaysia. hopefully the FED will raise rate this week and this will pressure BNM to raise the OPR. Then we will have chance to see bank promo FD at 5%!

Usd1=4.366

Why wow? Morgan Stanley gives estimate 4.56 for Q4 right? Long way to go...

You made me nervous whether still want to remit my usd back to malaysia

This post has been edited by ikanbilis: Dec 14 2015, 09:02 PM

The Federal Reserve is set to lift interest rates for the first time in over nine years on Wednesday at 2 p.m. Eastern.

The announcement, scheduled to come out of what’s called the Federal Open Market Committee, will be followed by a news conference with Federal Reserve Chairwoman Janet Yellen, who will speak at 2:30 p.m.

Current USD1 = RM4.306. Let's see any impact on RM?

Woohoo! 25 basis points raised by the FED!

Ya lor, i still waiting to TT my USD back to M'sia at 4.44 so that the gomen can send me a tenkiu note.

.

i will tenkiu gomen if RM can reach jp morgan estimate of 4.56 this month

Morgan Stanley forecast of RM4.56 also not going happen....

USD-MYR 4.334... Ringgit is slowly slipping away... will we see 4.46 again by the end of this month?

Awaiting 4.45 level for me to transfer my USD back to Malaysia

I'm only ikan bilis, where got 'big' money like you?

Seriously?

This will affect the ringgit negatively?

Feb 1, 2016 SINGAPORE — Singapore announced Monday that it has seized a large number of bank accounts in a probe into alleged misappropriations related to an indebted Malaysian state investment fund.
Investigations of “possible money laundering and other offenses carried out in Singapore” in connection with the 1MDB fund have been continuing since mid-2015, said the Monetary Authority of Singapore and the Commercial Affairs Department, which polices white-collar crime.
Singapore is working closely with authorities in Malaysia, Switzerland and the United States in the investigation, the agencies said in a joint statement.
“In connection with these investigations, we have sought and are continuing to seek information from several financial institutions, are interviewing various individuals, and have seized a large number of bank accounts,” they said.
“As investigations are still ongoing, we are not able to provide more details at this stage.”

Singapore’s stable economy and openness to foreign investment have made it a prominent destination for businesses in the region and farther abroad.
External investigations into 1MDB have indicated that $4 billion, earmarked for investment in economic and social development projects in Malaysia, may have been misappropriated from state-owned companies.
Switzerland’s top prosecutor has sought Malaysia’s help after an investigation confirmed that some money was transferred into accounts held in Switzerland. The accounts were held by various former Malaysian public officials and both former and current public officials from the United Arab Emirates.
The Swiss office said in a statement Friday that criminal proceedings were opened last August against two former 1MDB officials and unknown individuals on suspicion of bribery of foreign public officials, misconduct in public office, money laundering and criminal mismanagement.
Malaysian Prime Minister Najib Razak, who formed 1MDB in 2009, became embroiled in the scandal after documents were leaked last year suggesting some $700 million deposited into his accounts may have come from entities linked to 1MDB.
Malaysian Attorney General Mohamed Apandi Ali cleared Najib of any wrongdoing last Tuesday, saying it was a private donation from the Saudi royal family.
Apandi said Saturday that his office will cooperate with Swiss authorities. 1MDB is mired in 42 billion ringgit ($10.1 billion) in debt and has been selling its assets to clear it.

Do you really expect the Ringgit to outperform with the current Finance Minister?


http://www.financeasia.com/News/405600,naj...ister-2016.aspx



For the second year running, FinanceAsia has ranked the finance ministers of the Asia-Pacific region’s 12 largest economies.

FinanceAsia considers several factors when thinking about how to compare the performance of these men over the past 12 months. The role’s responsibilities and powers vary between countries but each minister contributes to fiscal policy and the budget, accesses capital markets, regulates financial institutions, and drives reform. Investor perceptions are one way to view how good a job they are doing, particularly when times are tough.

But the hardest criterion is independence. Most finance ministers serve at the pleasure of their prime ministers, presidents, or military dictators. Their ability to get things done requires political deftness, mastery of policy, sway over the bureaucracy, and the will to fight for the public interest.

Asia developed a post-1997 reputation for quality government, a perception now being put to the test as the Chinese economy slows and dollar strengthens.

For last year's results, click here.

The vast withdrawal of capital from emerging markets makes it all the more imperative for Asia’s finance ministers to pursue good governance, sensible structural reform, and sound finances.
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Unfortunately, the overall quality of the governments we cover has mostly deteriorated, led by the lowest ranked minister in our study. Take a bow ...

Ranked No12: Najib Razak, Malaysia

Last year was a very challenging year for the Malaysian economy. The country suffered a double whammy of political scandal that enveloped state fund 1Malaysia Development Berhad (1MDB) and Prime Minister Najib Razak, who also happens to be Malaysia’s finance minister. In addition, it endured a collapse in the price of its key export, oil.

1MDB first started to attract unwelcome attention in early 2015 after struggling to settle a RM2 billion ($563 million) bridge loan. The funding crunch was an embarrassment for Najib, who chairs the fund’s advisory board and expanded its remit on coming to office in 2009, to help turn Kuala Lumpur into a financial hub.

Then The Wall Street Journal reported that nearly $700 million had been transferred to the prime minister’s personal bank account from the Saudi Arabian royal family, prompting a series of investigations. The identity of the donor and the reason for the donation was never disclosed, but it triggered demands for Najib to step down and cast doubts over about the country’s commitment to good governance. After seven months, investigators said in January that they had found no evidence of wrongdoing by Najib.

The long-running political crisis has taken up time that could have been better spent addressing the country’s acute economic troubles and made Malaysia appear even less attractive as an investment destination. According to Moody’s, foreign investors withdrew approximately RM24.5 billion ($5.83 billion) from the country in the third quarter of 2015. The ringgit also depreciated by 19% last year to its lowest level since 1997.

The main task for Najib will be whether he can manage down the budget deficit to 3.1% of GDP in 2016 from 3.2% in 2015 in the face of a further slowdown in Chinese economic growth and low oil prices. Najib's stated aim is to balance the books by 2020, which would be no mean feat for a country that has run a deficit since 1998.

In response to falling oil prices and weakening exports, the prime minister presented a revised 2016 budget plan in January. The original plan had assumed an average oil price of $48 per barrel, more than 50% above current levels. The "recalibrated" budget sets a minimum price of $25.

Rating agency Moody’s, which cut the outlook on Malaysia’s A3 sovereign rating to stable from positive, has estimated that Malaysia’s fiscal deficit will likely widen to 3.4% of GDP if the oil price averages $34 per barrel. Other economists think the fiscal deficit has the potential to blow out to 4% of GDP if things stay the same.

To help lessen its reliance on oil export revenues, the government introduced a goods and services tax in April in the face of public opposition. In the short term, though, that’s hurting consumer confidence, by biting into the spending power of Malaysian households.

The country also joined the US-led Trans-Pacific Partnership trade deal in October to gain greater access to new markets.

How the embattled Najib can improve Malaysia’s reputation remains to be seen, but before then he must be ready to figure out a plan to tame the budget deficit while external weaknesses continue to crimp government revenue.

This post has been edited by ikanbilis: Feb 2 2016, 09:32 PM

I will be broke soon.....

Damage has been done. Appreciate to US1=RM3 also wont bring the consumer goods price down.

Hope your gut feeling is right. My USD is ready for conversion when the rate is good...

Profit for some ppl also means losses for some other ppl...