I'm expecting No Fed Rate hike & OPEC all talk No Action

Maybe Najib will annouce another QE haha

Dear sifu! Is it too late to buy usd now? 😭😭😭 I regretted that I've missed the boat! 😭😭😭😭

hope everyone read the budget, at least the summary.

a lot of SPENDING.

revenues, income, investment... i didn't see much.
will be hard to achieve this:

• In addition, the government is expected to achieve a fiscal deficit target of 3 per cent of GDP in 2017 compared to 3.1 per cent this year.
RM is not going anywhere, imo.

many currencies got battered too since the oil slide.

BUT... the RM is one continues to slide down when others recovered a good bit.

e.g. brazilian peso, south african rand - they were among the worst but have recovered a lot in last year.
the trouble with our situation here is not unlike everything else with some entrenched mentality over the decades: to improve, no need to do much; just wayang and wait for others to do worse, u come out better.

education ranking - "we are still better than @#$".
illicit money outflows - "we are only no. 5, not #1".
xmbd theft - "others before us also did same, also stole".
currency - wait for usa or uk to f up, their currencies fall, hooray, RM will strengthen.

the stark facts laid bare:

.. oil price down.
.. unabated leakage and wastage in big civil service.
.. massive losses in xmbd and the likes.
.. little real productive investment made in last few years. (china new cash won't come so soon, so easy.)
.. some lost hope, going away; others expect more free money; yet others continue to steal with approval.
.. energy, resources and time spent in cabinet, parliament, poliz, courts on race-religion politicking, punishing those who don't kneel.

so, who is left working to produce something of value to sell or export?

a currency like that can strengthen?!

4.30 anytime now with fed hike looming.

2017 may see 4.50.

come 2020, m may get to see 5.0 - n's gift to him.

You said it all there.

Crappy education system producing crappy grads. Poor aptitude AND attitute.
Crappy transparency systems. Corruption aplenty draining more monies out.
Crappy Que sera sera attitude. Waiting for hnadouts from goemn all the time. Gomen waiting for hnadouts from Petronas.
No Vision. All short term flip flops.

The biggest problem for Msia is CORRUPtion.

i see SGD:MYR at 4 sooner than later. We will see it before we ssee 2.9

Damn la. Don't know why so weak. Where's china money?

Coukd be because end of the year? Everytime end of the year, RM fall.

*BREAKING UPDATE!!!*📢

Ringgit is facing great sell off today because:
1.) the hope of new US President Donald Trump will bring "America Great Again". Market has suddenly turned 180 degree and support Donald Trump vision instead fearing him now.
2.) the high possibilities of US rate hike due to the inflationary that is going to happen due to upcoming very large spending by Donald Trump to build walls and infrastructures

These two main factors is driving US market very very much uptrend.

Thus, many USD (mainly) and other foreign currencies wants to go back to US (leaving Malaysia) and thus Ringgit has been sold off crazily now. Ringgit is weakening big time now!

To avoid Ringgit to weaken any furthur, Bank Negara has issued an order to ban all foreign currency exchange that involves MYR. So no FX conversion and DCI involving MYR for all banks and money changer today.

went to shopping mall and all exchangers are closed.

we may never recover from this.

with trump now planning to cease the Paris climate agreement and opening up investment to fosil fuel and shale,  I doubt our petronas will have any income

wah that serious..

never seen money changers outlet closed on working day     

BNM also good at playing games now..

issue public statements denying giving orders but actually they really did give out out orders.. they do that so not to make the public panic   

http://www.straitstimes.com/asia/se-asia/m...overnight-rates

oh look what we have here

this big spread capital control is not going to end well.

buy $, pay with a lot more RM.

sell $, get much less RM.

this kind of situation usually spark more fears, real or unreal.

when control lifted, more capital will fly, might move to 5.0 for a while.

Not that I am always advocating for the Singapore Dollars, but certainty is very important for the majority of us,... not the punters and the speculators, of course,...

This article proves it. The incident yesterday stands for this thinking of mine, gentlemen,.. : http://www.thestar.com.my/news/nation/2016...over-positions/

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.

costs of living tripled. not much impact to business owners but salary earners suffer tremendously.

savings and low yield investments are also shrinking in value. it is heartbreaking to see my insurance plan *depreciating*.

that, for sure.

medical insurance will face double whammy:

.. hefty premium increase for same RM benefits.

.. lower value benefits as hospitals raise prices + GST.
as more people turn to gomen hospitals already faced with budget cuts and increasing foreign workers, it's going to get chaotic.

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 it's not. If you have a USD in FCA, you can straight transfer without going through the exchange at bank. Also, I think it's good idea to change when the controls are in place as we will be getting more USD worth (compare the onshore USD/MYR with offshore USD/MYR).

Of course if you are talking about changing USD > MYR then it's not worth it as you will be getting less MYR/USD changed. That's just my opinions.

I think if Saudi can have trouble so can Brunei.  But there's no news about brunei situation.