Exactly, India has done it although it was tough at the start since banking is still not very widespread over their population of over 1 billion.
It should be a lot easier for Malaysia since banking has very good penetration in Malaysia.

The only thing is that I think India made a sudden announcement on the currency note change prior to implementation, for the surprise effect to effectively kill the illegal money. In Malaysia since the news is already announced saying govt is "considering", the illegal money would already be moving now.

Wow! That's what I call a bold call! I like this unlike most gutless analysts giving those 10% up or down from here prediction.

Not a fan of Tony.

best to let bloomberg describe.

Export stock gonna benefit? Hahah

Nobody knows. We chose this govt, just have faith with them and give them the time to turn things around.

Whether long term will reverse or not, will know after budget is announced.

Really GG   

Dr M himself said 2 days ago more taxes are coming. he said this in a speech to fund managers/bankers and I hope he is not talking about CGT and Inheritance tax because he said these new taxes would not burden the rakyat too much, If his definiition of rakyat excludes the "rich", then these 2 taxes target at this group. If this is the case, that is, we take out GST only to replace with SST, GST and inhertitance tax, then I much prefer the GST. Dr M himself does not like capital market activities too much. He said they are not productive. Hnece, I will not be surprised if CGT is introduced. I hope PH government do not get fixated with achieving budget surplus. Budget surplus does not mean good governance.

I think the budget ann't on Friday will strengthen the RM a bit for Monday and Tuesday,... then the USD effects will kick-in again from Wednesday onwards. See whether my prediction is accurate or not,....

If myr could moved from 2.50 to 4.0 a USD, what is 4.0 to 4.2 or 4.5?

Budget 2019 is based on US 70/barrel oil price.

We might get a negative rating from current stable credit rating in view budget deficit would widen further with reversal of GST , plummeting FDI and foreign reserves.

Fitch predicted budget deficit of 3.7% for year 2019(approximately 1.4% under DS Najib) . Even 3.7% budget deficit(2019) might not be achievable under PH.

Guys:do not bring in any money back into the country at the moment. We might be heading for nosedive. Ringgit would reach RM4.2-4.5 against 1USD due to domestic economic policies rather than trade war between US and China.