Yes,.... But looking at it this way is not enough, because if we say,... look at the USD now, it has appreciated against the RM, this is also true. What we need to understand is that the USD too dropped to 2.80% against the RM years ago, which says that the USD is still volatile.

The SGD, on the other hand,... has always been on an appreciative trend against the RM,... hence, there is stability, compared to many other currencies of the world.

So,... gents,.. what will happen tomorrow when the mkt opens ?

When mkt becomes more rational, and people can think clearly, the RM will recover,...and strengthen a bit.

When we say RM5 or any rate that we desire for that matter, we are effectively saying that we are keen to 'act' on that rate, be it to buy or to sell the USD at the desired rate.

But now, BNM has stopped us from taking actions on that rate, so,... we are literally stuck with USDs that can't be used in conjunction with our livelihood in the country.

Secondly, even if they do let us act on that rate, the spread will be so big that it becomes nonsensical to act on it.

This experience has taught us a lesson in that if we keep foreign currencies in the country, it is still not safe.

NO bro,... you have to declare if you are bringing out more than USD10K equivalent through outward Customs. Unless, of course,... you think that they would not check,..

The idea is : it is safest to hold your foreign currencies in overseas banks,... merely holding foreign currencies is NOT ENOUGH.

Good point, William,.. this would be another one,....

I saw in the SG REITs thread this morning that Stanchart Sgp may need a work permit in order to open accounts,... better move fast,....

If a peg fails, the gov't will probably enact an emergency-like resolution, which could possibly stop all outward movement of funds from Msia. Logically, this is what I would do,...

Agreed,... more time to exit too,...

I'm waiting too,... this time, should the RM strengthen,... I think many will convert 'out' already,... but somehow, I have a feeling hidden hands are making the RM weak in order to shut us in,...see how long they can do this !

Bro,.. I think they are more like just follow the flow, they themselves would have taken the initiative to prepare and to protect themselves and their assets in the background already. I heard ALL of our ministers and DGs, politicians, etc, etc, have accounts overseas,....

So, to these people, whatever is to happen can happen lar,.. I'll just leave,...

Channels News Asia said fears of capital controls by BNM is now in the air,...

Maybe by tomorrow morning, full capital controls already...

Sometimes, I wonder,...the currency that is under deliberation here is the USD. If the MYR is pitched against the Euro and the AUD, it should be more favourable because the Euro and the AUD would be weakening against the USD too,... in tandem with the MYR.

Why should the MYR be suffering 'alone' against all the other currencies, when the USD is clearly winning against all, not only the MYR ?

Bro,...the prb here is that in future, nobody would want to lend to Msia anymore, after this fiasco. Nobody would dare to buy Msian MGS anymore, and the yield has to be very, very high for these banks to absorb the risks. NO more cheap loans for Msia,...

Even so, bro,... why must we throw away whatever value we have attained in our natural currency, the Ringgit ? This is how I feel,... even though I have multiple currency investments and holdings abroad !

Yes, bro,... things will become very expensive for us, consumers in Msia, first direct effect for us.

If this keeps going, nobody wants to chg with our RM soon !