and which pariah bank, which bomoh analyst said 3.80 coming?

4.1 more likely...

Folks,
Some time back I read about the presence of a max limit on transfers in foreign currency (I can't remember if it's for inbound or outbound or both).

When doing a TT transfer of USDs from a foreign bank account to a USD bank account in Malaysia (CB), is there a maximum above which Bank Negara needs to be informed etc.?

According to CB website you need to comply to BNM's Foreign Exchange Administration rules:
https://www.citibank.com.my/english/deposit...al-transfer.htm

But from the link below from BNM, (see section 2.9 for Residents), it doesn't appear like there is a limit for TTs)
http://www.bnm.gov.my/microsites/fxadmin/n...1_Residents.pdf

Could someone knowledgable on this subject please assist ?
EDIT: My query is solely about limits imposed (if any) by BNM, not by commercial banks.

HSBC expects another 25 bps cut in OPR
http://www.thestar.com.my/business/busines...bps-cut-in-opr/

If cut materialize, MYR may say Hello to 4.10 again

showtime747 your advice is needed.

There is a political doctrine to call for the peasants to remain poorly educated, live from hand to mouth, depending on handout from the master, grateful to the master and in exchange master will forever in charge.

On forex rate, peasants have little or no foreign trading, inflation is blamed on greedy traders.

Please do not derail this topic

We do not care background of forumers

What we care is whose preeiction is the most accurate and make big bucks from.usd myr aud thats all

We are born not to be a busy body please mind your own business

No n3d to start a a new 1 lor.m cause those who derail this topic certainly  have som3 bad intention behind

Bro AVFAN,... this is a very, very important piece of news,... tq for alerting us.

So,.. Citibank Labuan has given up ! Don't wish to operate there anymore !

The Constitutional Referendum in Italy will be held this Sunday,... if Italian lawmakers choose to exit the EU, will this hammer the RM down further ??

THIS is very worrying...........Ringgit may become a pariah currency with the Western developed nations

Official guidelines issued by BNM on latest forex:-
http://www.bnm.gov.my/documents/2016/Suppl...ation_Rules.pdf

10. A resident without domestic ringgit borrowing is allowed to undertake any amount of investment in foreign currency asset onshore for its own account or on behalf of clients.

11. A resident entity with domestic ringgit borrowing is allowed to undertake investment abroad and investment in foreign currency asset onshore in aggregate via its Investment Foreign Currency Account as set out in Appendix 5.

12. A resident individual, sole proprietor or general partnership with domestic ringgit borrowing is allowed to undertake investment abroad and investment in foreign currency asset onshore in aggregate as set out in Appendix 5.

I think it could be a mistake because it does not make sense that those who borrows RM can invest more than those who does not. ( in this case implying those who does not borrow cannot invest abroad )

It's a big issue for exporter n importer
1 solid example is wholesale of foreign currencies where the biz model is to export n import various foreign currencies for local use

This is just a problem due to information being strewn everywhere.

See this. http://www.bnm.gov.my/index.php?ch=en_pres...ac=4316&lang=en
"Residents without domestic ringgit borrowing shall continue to enjoy flexibility of investing in foreign currency assets both onshore and abroad up to any amount"

Please give opinions and insights to my questions in the above, bros,....

My understanding so far...

It is about at anytime after dec5, not one year period.

According to item 51 in the FAQ, aggregate is rm1 mil for individual.

It means if u have rm500k loan outstanding, u r allowed to invest balance rm500k in foreign, whether local or abroad.

If u have rm1 mil or more in loan, not allowed at all.

But that is for new fx TOTAL from dec 5 onwards, what u already hv in fx now is fine.

No loan, free to do anything, local or abroad, anytime.

The motive behind is to stop individuals from borrowing in RM and put in FX.

In large nos., this can be very damaging, as seen in the tomyumgung crisis in 1997.

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.

Yes, what you say does have its truth. Investor confidence is one of the most important factor in driving up the value of the ringgit.
But who does those aunties need to komplot to go to midvalye and queue at centre court?   Cant the just change directly?

foreign analysts talk, plenty of reports, we read.

local analysts don't, cannot, so we follow, culture ma..

u know why la...

politics, emotional... thread gets locked la!