Why Ringgit is so weak against major currency?

include those malaysian have CPF account on their retirement plan

Cause Malaysia Gov have NO MEANS to defence it.....

Yes - this is spot-on.

Yeah,... well,... I guessed any major currency besides the Ringgit will 'be profitable'. One thing abt the USD is : most income-based investments and returns have a 30% tax. And secondly,.. the USD is more volatile compared to the SGD.

I suspect many Msian individuals and companies have foreign currencies parked outside the ctry,...

This is another true for those who knows how to invest. I have friends who are in B40, M40, they dont know how to invest and don't want to keep money overseas.

YTL Group is one of it. =p

MIDF Research said the ringgit remains undervalued based on the real effective exchange rate, adding that it could appreciate to RM4.25 per dollar by end-2022.


😁

I wish that it can go below RM4.

Won't happen anytime soon 😁

Wishful thinking la. With GE also looming just don’t see this happening.

Ya...

Seriously....
How they got such target is really epic 😂

And when Msian ringgit weaken this time it will be permanent. There will be no wayang kulit to show FDI that Malaysia is capable of reforms.

My only regret is, I started too late.

It's never too late. I believe we will see sgd4.00 in our lifetime seeing how the country is run.

I just transferred my saving silver to sg today itself.

This post has been edited by Ramjade: Sep 1 2022, 08:29 PM

I concur and I have the same believe on it too. SGD 4.00 and USD 5.00 within the next 5 years are plausible.

Nowadays, most of my saving already in USD, left the spare funds in MYR, but i am still too late into the game, if only I see your wisdom earlier.

I continue converting every spare cash from my salary I have as my goal is long term. Collect rm10k then convert.

Last time you used to fly to SG to convert, just curious, nowadays are you using those like Wise for conversion?

Correction. I never fly. I take the train.

I used Sunway money. RM30k transaction more than enough for me to convert. Their rates is as good as money changer rate. Even if rates are more expensive, sometimes the cost to travel and deposit = same as doing it online.

Last time the only online service available are banks. Nowadays there are alternatives which gets the job done as good as banks but cheaper.

This post has been edited by Ramjade: Sep 1 2022, 08:44 PM