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 USD/MYR v4

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TSwil-i-am
post Nov 22 2016, 08:00 PM

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QUOTE(ninjawin @ Nov 22 2016, 05:44 PM)
My quote from investing.com ...a few websites also suffered same issues..not sure what happened.
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Almost similar trend by xe
http://www.xe.com/currencycharts/?from=USD&to=MYR&view=1D
TSwil-i-am
post Nov 22 2016, 08:00 PM

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No problem changing ringgit in Bangkok and Jakarta, say money changers
http://www.thestar.com.my/business/busines...money-changers/
TSwil-i-am
post Nov 23 2016, 08:48 AM

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QUOTE(AVFAN @ Nov 22 2016, 10:09 PM)
http://www.bnm.gov.my/?tpl=exchangerates

this raises something interesting.

is the offshore NDF now seeing a stronger RM due to rising oil prices but onshore rates say otherwise?

an unintended consequence of an unnecessary BNM distortion? biggrin.gif
new read:
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Oil prices edge higher to USD50 but our MYR is still struggling @ 4.42 mark
TSwil-i-am
post Nov 23 2016, 08:58 AM

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QUOTE(Hansel @ Nov 22 2016, 08:15 PM)
Right,.. OPR Ann't is tomorrow evening,... thumbsup.gif

So, RM shld strengthen on Thursday, right ??  smile.gif
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Unlikely to strengthen unless BNM increase int rate
TSwil-i-am
post Nov 23 2016, 09:41 AM

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Shld b trading in tight range b4 official OPR news
TSwil-i-am
post Nov 23 2016, 11:13 AM

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QUOTE(AVFAN @ Nov 23 2016, 11:00 AM)
it will be surprising if otherwise.

no support for RM; only arrests, hudud talk and more plundering.
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Start to long now? hmm.gif
TSwil-i-am
post Nov 23 2016, 01:55 PM

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QUOTE(AVFAN @ Nov 23 2016, 11:47 AM)
Long RM?

I wont.

Usd still running away.

China rmb at record rate 6.92.

RM... touched 4.44.... ahem... tongue.gif
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Looking forward to 4.50 by end of tis week
TSwil-i-am
post Nov 23 2016, 01:57 PM

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MYR is heading to 4.45 soon as last quote by BNM during lunch break was 4.4445
TSwil-i-am
post Nov 23 2016, 02:26 PM

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QUOTE(Hansel @ Nov 23 2016, 02:24 PM)
Never mind,... after OPR announced at 3 pm,... MYR will revert to 4.4000 against USD  biggrin.gif
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Bro, better short now if u have high lvl of confidence
TSwil-i-am
post Nov 23 2016, 03:19 PM

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BNM maintained OPR @ 3%
TSwil-i-am
post Nov 23 2016, 03:29 PM

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QUOTE(Chrono-Trigger @ Nov 23 2016, 03:28 PM)
as expected.

BNM does not like to play with interest rate.

Always slow and steady..
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M worry v r left far behind when Janet up int rate next mth cry.gif
TSwil-i-am
post Nov 23 2016, 03:30 PM

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BNM will hold 6 meetings for OPR next year but each meeting will b held over 2 days (1st time)
TSwil-i-am
post Nov 23 2016, 03:40 PM

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QUOTE(Chrono-Trigger @ Nov 23 2016, 03:31 PM)
actually bank negara previous governor Zeti did say, when US raises interest rate, ringgit will find some stability.

It is the "process" and "anticipation" and uncertainty that drives the Ringgit wild.
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Get ready popcorn n soda when Janet increase int rate next mth tongue.gif
TSwil-i-am
post Nov 23 2016, 04:18 PM

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Quote by BNM today pursuant to OPR announcement:-

In this regard, Bank Negara will continue to provide liquidity to ensure the orderly functioning of the domestic foreign exchange market.

If the intervention is temporary, it's gud.
If tis continue, it will hurt global confidence towards MYR sweat.gif

TSwil-i-am
post Nov 23 2016, 05:00 PM

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QUOTE(Chrono-Trigger @ Nov 23 2016, 04:53 PM)
Let's see if Zeti's prediction was correct.

She said once Fed announced the rise , ringgit will more stable.

Now it's just a lot of nervous and noise , with everyone uncertain where to put the money, so naturally they put it to safer assets like US Treasuries.

and Bank Negara does have a lot of control over the Ringgit, unlike in the 1998 crisis.
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Hahaha...
Wat u gonna do when MYR run wild brows.gif
TSwil-i-am
post Nov 23 2016, 08:56 PM

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QUOTE(AVFAN @ Nov 23 2016, 05:12 PM)
it took only 3 hours:
22 Nov 2016 09:00 UTC - 23 Nov 2016 09:08 UTC USD/MYR close:4.45230 low:4.40005 high:4.45326
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It retreat to 4.40885 upon closing against BNM closing of 4.4425
Can tis b deem as intervention? hmm.gif

TSwil-i-am
post Nov 23 2016, 08:58 PM

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As per BNM website, there is no trading for 10 yrs MGS today with last traded yield @ 4.30%
Is tis normal? hmm.gif
TSwil-i-am
post Nov 23 2016, 10:52 PM

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QUOTE(AVFAN @ Nov 23 2016, 09:42 PM)
i wud think so.

look the dollar index, been spiking.
now at a level not seen since 2003:
http://www.investing.com/quotes/us-dollar-index

bad bad for those short on $ in fx trading in the last hour. tongue.gif

can't imagine what happens if:

.. $ index keeps climbing
.. bnm burns most reserves
.. opec fails on nov 30, oil goes <40 again
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Based on the latest intl reserves, BNM doesn't seems to utilize the same to support MYR
TSwil-i-am
post Nov 23 2016, 10:54 PM

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Quote from Bloomberg:-

Malaysia’s ringgit fell 0.5 percent against the dollar, declining for an 11th day in the longest losing streak since December 2013 even as the central bank said it will continue providing liquidity for an orderly currency market. Bank Negara Malaysia held its overnight policy rate at 3 percent, a sign that policy makers have shifted their focus from spurring economic growth to supporting the ringgit.

The last line with underline keeps me worry sweat.gif
TSwil-i-am
post Nov 23 2016, 11:42 PM

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Malaysia’s ringgit may keep tumbling amid the market's Trump tantrum
http://www.cnbc.com/2016/11/21/why-malaysi...mp-tantrum.html
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