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SUSxander2k8
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 Jul 12 2023, 05:24 PM
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QUOTE(TOS @ Jun 28 2023, 08:32 PM) https://www.sinchew.com.my/20230628/%e7%bb%...96%b2%e6%80%81/Interesting statistics. MYR FX market daily trading volume is about 15 billion USD. Malaysia FX reserves amounts to 115 billion USD. If BNM really wants to play hard, our foreign reserve may evaporate in days. Donβt forget that if they use 1.5billion each time to defend the currency π€¦ββοΈ it can hold them off within 2 years with every week defensive mechanism to deplete it π€¦ββοΈ |
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SUSTOS
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Oct 19 2023, 02:07 PM
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Hansel
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Oct 19 2023, 03:01 PM
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Hansel
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Oct 19 2023, 03:02 PM
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Approaching ALL Time LOW vs the SGD. Interbank rate = 3.462 now !
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Hansel
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Oct 19 2023, 03:03 PM
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Soon,... must impose capital controls already, bros,... Otherwise,... our Ringgit is done ! It'll be too late !
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SUSxander2k8
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Oct 19 2023, 05:05 PM
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QUOTE(TOS @ Oct 19 2023, 02:07 PM) Not suprising π€¦ββοΈ 4.80 anytime this year QUOTE(Hansel @ Oct 19 2023, 03:03 PM) Soon,... must impose capital controls already, bros,... Otherwise,... our Ringgit is done ! It'll be too late ! Imposed what capital control π€¦ββοΈ the problem is stagnating economy and foreign capital is not flowing as much what PMX thinking π€¦ββοΈ pegging would spell disaster because the reserves to fund it will deplete quickly in a few months |
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SUSTOS
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Oct 19 2023, 07:31 PM
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Hansel
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Oct 19 2023, 07:39 PM
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QUOTE(xander2k8 @ Oct 19 2023, 05:05 PM) Not suprising π€¦ββοΈ 4.80 anytime this year Imposed what capital control π€¦ββοΈ the problem is stagnating economy and foreign capital is not flowing as much what PMX thinking π€¦ββοΈ pegging would spell disaster because the reserves to fund it will deplete quickly in a few months Not pegging, but China-style capital controls. |
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SUSTOS
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Oct 19 2023, 07:43 PM
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dwRK
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Oct 19 2023, 07:43 PM
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all time low was... 4.8848... lol
lucky i stop converting usd to myr...
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SUSxander2k8
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Oct 20 2023, 11:49 AM
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QUOTE(Hansel @ Oct 19 2023, 07:39 PM) Not pegging, but China-style capital controls. Not possible in Malaysia π€¦ββοΈ as the govt does not have a good fiscal discipline π€¦ββοΈ unlike CCP who doesnβt even bother about their ppl |
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icemanfx
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Oct 20 2023, 12:31 PM
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QUOTE(xander2k8 @ Oct 20 2023, 11:49 AM) Not possible in Malaysia π€¦ββοΈ as the govt does not have a good fiscal discipline π€¦ββοΈ unlike CCP who doesnβt even bother about their ppl bnm imposed partial capital control a few times in the last decade. those not in foreign trade or business has no idea. |
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SUSxander2k8
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Oct 20 2023, 05:44 PM
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QUOTE(icemanfx @ Oct 20 2023, 12:31 PM) bnm imposed partial capital control a few times in the last decade. those not in foreign trade or business has no idea. Only for reporting but not full scale capital control π€¦ββοΈ mostly only affecting those certain sectors for import and export business What he is implied is a full scale capital control including fixing the currency rate like what CCP is doing since day 1 |
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icemanfx
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Oct 20 2023, 11:16 PM
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QUOTE(xander2k8 @ Oct 20 2023, 05:44 PM) Only for reporting but not full scale capital control π€¦ββοΈ mostly only affecting those certain sectors for import and export business What he is implied is a full scale capital control including fixing the currency rate like what CCP is doing since day 1 For certain you were not in banking or foreign trade. During bn administration, foreign proceeds was compulsory converted to RM for some time to build up depleted foreign reserve. |
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silverwave
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Oct 21 2023, 10:45 AM
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Where do most of you store your money now since RM is so weak?
I was thinking of moving some to SG or hold in IBKR.
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Mr Gray
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Oct 21 2023, 10:58 AM
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QUOTE(silverwave @ Oct 21 2023, 10:45 AM) Where do most of you store your money now since RM is so weak? I was thinking of moving some to SG or hold in IBKR. RHB Multicurrency Account. I've been buying CHF, USD and SGD monthly This post has been edited by Mr Gray: Oct 21 2023, 10:59 AM |
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batman1172
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Oct 21 2023, 11:00 AM
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QUOTE(silverwave @ Oct 21 2023, 10:45 AM) Where do most of you store your money now since RM is so weak? I was thinking of moving some to SG or hold in IBKR. Diversity not only asset but also education and work experience to multiple countries. You never know when SG will decline or MY will rise again. |
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Ramjade
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Oct 21 2023, 03:27 PM
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QUOTE(silverwave @ Oct 21 2023, 10:45 AM) Where do most of you store your money now since RM is so weak? I was thinking of moving some to SG or hold in IBKR. I have put my RM overseas for years. It's never too late to start. Start with the mindset that mine his one way ticket and you won't see it for at least minimum 10 years. I hold SGD, GBP, USD and CAD inside IBKR. |
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dwRK
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Oct 21 2023, 06:02 PM
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QUOTE(Ramjade @ Oct 21 2023, 03:27 PM) I have put my RM overseas for years. It's never too late to start. Start with the mindset that mine his one way ticket and you won't see it for at least minimum 10 years. I hold SGD, GBP, USD and CAD inside IBKR. just realize been holding usd for 10 yrs... lol... |
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silverwave
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Oct 21 2023, 10:05 PM
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QUOTE(Ramjade @ Oct 21 2023, 03:27 PM) I have put my RM overseas for years. It's never too late to start. Start with the mindset that mine his one way ticket and you won't see it for at least minimum 10 years. I hold SGD, GBP, USD and CAD inside IBKR. Is there any limit for how much we can hold in IBKR? |
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