Well seems like no effect

Still around 4.46/4.47

Global Banks Rein in Turkey Loans as Erdogan Roils Markets
https://www.bloomberg.com/news/articles/201...n-roils-markets

How the Turkish lira entered free fall
http://www.al-monitor.com/pulse/originals/...isis-blaze.html

Other measures to increase the demand for the ringgit include placing a cap on the amount that companies and individuals can invest locally or abroad in foreign currencies.

At the moment, companies and indivi­duals with loans tied to local banks can only invest a certain amount abroad for instance to purchase companies or properties.

For companies with loans, the limit is RM50mil while for individuals, it is RM1mil.

However, there are no restrictions for companies and individuals if they want to invest in foreign currency assets in the domestic market.

[B]“Companies and individuals tend to buy US dollar bonds or investment instruments sold by local banks by taking borrowings from local banks. Now there will be a cap on this,” said a dealer.

Effective Monday, local companies and individuals with borrowings can only invest up to RM50mil and RM1mil respectively in foreign currency denominated assets in the domestic market.

Bank Negara also announced measures to help fund managers manage their portfolio of investments against the volatility of the US dollar-ringgit movement.
http://www.thestar.com.my/news/nation/2016...nd-for-ringgit/

" The amount held by exporters in foreign currencies is estimated to be closer to RM90bil. At current exchange rate of dollar and ringgit, the gradual conversion of the export proceeds could result in Bank Negara’s reserves increasing by more than US$18bil (based on an exchange rate of RM4.44 to the dollar). "

Adding USD 18Bil to our current reserves of USD 96Bil is adding 20% strength onto the Ringgit, ie, again, mathematically, the Ringgit should strengthen by 20% against the major foreign currencies by end of next week.   

No.

http://www.bnm.gov.my/documents/2016/faq_i...cial_market.pdf

See item 22.

So there won't be an immediate boost right of the bat with the existing balances, mandatory speaking anyways. Only if the corps decide to just liquidate all FC into MYR (voluntary) will the immediate shoring of reserves happen.

Edit: Some typos and additional info.

[b]Comment : I wonder credit card debts are regarded as loans ties with local banks ? If they are, then we have to pay-up the credit card debts first before doing a TT ???    Doesn't make sense. Maybe can-lar,....

In summary,..............BNM is closing the doors too !!!!!!!!!!!!!

Hmm,... if we're talking abt future amts coming back, then why did that asst giv mentioned abt the current improvement that can be enjoyed ?

"The amount held by exporters in foreign currencies is estimated to be closer to RM90bil. At current exchange rate of dollar and ringgit, the gradual conversion of the export proceeds could result in Bank Negara’s reserves increasing by more than US$18bil (based on an exchange rate of RM4.44 to the dollar)."

And why is the Asst talking all the time ??? Where is the main man ??? I keep asking this,....

To yr first para, I am aware of it, but today, BNM is not seeing it this way anymore. They are in desperation mode (I think you said this too earlier) to stem the 'freefall' of the MYR. They need to solve the immediate problem first.

To yr second para,... O don't think foreigners holding too much of the Msian sovereign bonds is the ONLY reason for the MYR to die slowly. Deterring Foreign Direct Investments (FDIs) is the last thing that I would want to worry about now. I think the gov't and BNM too agree with me on this. I would prefer to hold my MYR value now first, for good or for bad reasons,...

In its heyday, years before the 2009 global financial crisis as well as in the ensuing years, when the United States and Europe pursued liquidity expansion to battle the crisis, Turkey’s ruling Justice and Development Party (AKP) enjoyed abundant inflows of foreign capital, with an annual average of nearly $38 billion for the past 14 years.
Those resources, however, were used mostly toward domestic demand, financing consumer loans and sectors that bring in no foreign exchange gains, such as construction.
Read more: http://www.al-monitor.com/pulse/originals/...l#ixzz4RkTOg1gd

IMO, not all exporters will b affected by the latest ruling to convert 75% of their proceeds into MYR immediately

In fact, a lot of 'smart' exporters wud have opened FCA outside M'sia dy for the receipt of proceeds

For future Invoices (wef 3/12/16 onwards), they can specify pls credit payment into FCA maintained outside M'sia

In respect of issued Invoices (prior to 2/12/2016), they can easily nego with clients to redirect the proceeds into external FCA instead of internal FCA. Having said tat, the exporters need to give some 'discount' on the proceeds to clients so tat it's a win-win situation

Went to Maybank tis morning on the pretext to open new FCA for individual

The officer said tat new FCA can b open unless there is supporting docs. Otherwise, can't open as it's subject to their HQ n BNM approval

It seems BNM have imposed stringent controls on the opening of new FCA for individual to deter outflow

Gud news for existing FCA holders but bad news for those who intend to open FCA now

See what happens to those who park their funds in foreign currencies in Msia, as in export companies ??? Now, must convert back to MYR....

Err,... I just thought of this. Which is right ? For individuals with RM borrowings, is it;

1) cannot own more than RM1Mil of assets outside Msia in foreign currencies, OR

2) cannot SEND MORE THAN RM1Mil out of Msia in ONE YEAR period ?

Actually, how it works is that as long as you have any form of MYR borrowings regardless of amount, you are subjected to that MYR 1 mio limit. It is not calculated anything like what you've mentioned.

Now I'm no expert when it comes to individuals (I handle corps instead), but I believe there are exceptions to what qualifies as MYR borrowings. Credit card might be excluded, as well as housing/car loans (first 2 of those loans I think). The loaded forumers here might be able to give more solid sharing.

Bros,... hmm,... I'm going to do this,... I'll wake up earlier tomorrow morning and look at how the interbank rates below start :-

https://au.finance.yahoo.com/echarts?s=MYR%...=MYR=X;range=1d

If the 'number at the top' drops below 4.4400, then I would know the RM is strengthening,...

1) IF the dollar index goes UP, and the USDMYR goes DOWN, then we know BNM's tactics has worked, at least for the short term.

2) IF the dollar index goes DOWN, and the USDMYR goes DOWN, then BNM's tactics may or may not have worked.

3) IF the dollar index goes UP, and the USDMYR goes UP, then we can be quite sure that BNM's tactics have not worked.

It is not possible for the dollar index to go UP but the USDMYR to go DOWN.

The pressing issue is to Short or Long 

Bau for MYR despite new BNM guidelines

Comment : Actually, we know that all factors point to the USD not falling, and even strengthening in the near to medium term. What I'm hoping for is the measures taken by BNM to be able to contain this rise of the USD against the MYR. The immediate question that pops into mind will then be how long will the 5 (is it 5 ?) tactics by BNM unveiled last Friday, Dec 2 be able to defend against the onslaught of the USD...

CIMB Research sees new forex measures reducing ringgit speculation
http://www.thestar.com.my/business/busines...it-speculation/
Reduce speculation doesn't mean MYR will strengthen

Well some will say 4.45 is good for export & tourism

Perodua: Price review if ringgit remains weak
Read More : http://www.nst.com.my/news/2016/12/194428/...it-remains-weak

Why RM devalue so much compare to other regional currencies in such a short time is about the lack of confidence.