Last week they burn 90 billion to maintain that rate.

This week they will burn another 180billion.

Hong Leong IB expect the ringgit to move around 4.20 - 4.50 range next week..

And 4.10 - 4.40 range next year..

Malaysia is reportedly one of Asia’s worst-hit economies in the face of rising US interest rates and the dollar.
According to Wall Street Journal today, foreign investors sold US$5.3 billion of Malaysian stocks and bonds in November, the largest monthly outflow since September 2011, according to ANZ Bank.
"That is almost a quarter of the US$22.1 billion pulled from emerging markets in the region, excluding China," wrote WSJ.
The bulk of this, it said, was US$4.5 billion of bonds, the biggest monthly debt outflow on record, according to ANZ.
This comes as the ringgit continues to slide amidst a loss of market confidence in the country's financial standing, of which the growing 1MDB scandal is one of the contributing factors.
"Despite the government’s various attempts to support the currency, the ringgit has lost 6.5% of its value against the greenback since the US election, hitting a nearly 19-year low on Nov 30.
"On Thursday, the currency weakened 0.9%, following the Federal Reserve’s announcement of its first rate increase in 2016," wrote WSJ.
"Malaysia’s Achilles' heel is the high level of foreign ownership of its government bonds.
"Foreign money is flighty, a factor that can accelerate a liquidity crunch during times of stress," the financial daily reported.
Read more: https://www.malaysiakini.com/news/366301#ixzz4SyHxLmOA

why cant they make all exporters convert 100% of their usd proceeds into myr? better let the exporters defend the ringgit.

BNM ruling impeding growth, says Top Glove
FMT Reporters | December 16, 2016
World’s largest glove manufacturer unhappy with directive requiring exporters to convert 75% of their proceeds into ringgit, as it reports a 43% decline in quarter one profits.
http://www.freemalaysiatoday.com/category/...says-top-glove/

Yeah,... I think xpmm has a point there,... But there is no hurry to convert, right ?? Since our central bank is going to hold this rate and defend the MYR, we can convert anytime, as long as they have the power to defend the currency,....

Going back to the points in the above,... I discovered the following :-

I calculated if I am to use the current exchange rates to convert directly from the RM into the AUD, compared against if I am to convert from the RM into the USD first, then after that into the AUD at about the same time, I will spend RM10 less for RM100 to buy the same amount of AUD worth of conversions.

Hence, yes, I believed the actual value f the RM right now is actually more that 4.47,... perhaps even touching as high as RM5 per USD. But because of help from our central bank, we can 'enjoy' a lower USD. Yeah,.........

....... I await further comments,........

Weakening ringgit good for trade, says Vincent Tan
http://www.freemalaysiatoday.com/category/...ys-vincent-tan/

Matrade: Weak ringgit won’t result in higher trade surplus
http://www.freemalaysiatoday.com/category/...-trade-surplus/

I think the exporters are no more enjoying themselves as they used to  after BNM forced them to convert 75% of their proceeds back to the RM !

I believed nobody would want to convert into 'a lot of a currency' that CONTINUES TO WEAKEN !

quoting with quotes again?

you should at least type something to express your own views

Bro,... for myself, I think it's great that AV can furnish us news. He put in great effort to find and post. I wouldn't ask more of him if he is not ready to comment. The great thing abt this thread is we all scour and post what we find from the net. 

wow didn't realize there's an douche bag in every thread. I feel you AV as I always post stuff on the fsm group and there's one guy who never gives anything in the conversation and will pop up for no where and start complaining. keep up the good job AV news articles help a lot when making a decision on what to invest and where to invest

I believe businessman made most money from the trade margin. The Forex gain from sitting on usd pile is just bonus. Nobody likes their bonus being taken away, but that doesn't mean they will just quit/walkaway from their money-making trades.

And why FDI need to set up shops here for export?

Besides u.s fed rate, with China as the largest trading partner, economic downturn e.g property bubble burst in China, RMB breached 7.0 will have impact on Myr forex rate.

Bro,... pls help me to confirm,... I discovered an arbitrage opportunity here ! AUD will be weakening these 2 to 3 days, but after it 're-strengthened', pls allocate a few minutes to help me cfm,...

Following all these, the next catalyst would be when President Trump starts work on Friday, January 20th.. Hence, effects will be seen on the following Monday, January 23rd..

https://www.bloomberg.com/news/articles/201...inancial-crisis
“It is a confluence of the relative decline in cash metric, high foreign holding of bonds sold off, investors’ trepidation about FX controls and the underlying political or headline risks,” said Vishnu Varathan, a senior economist at Mizuho Bank Ltd. in Singapore.

Surely cannot be just continue to defend until NO MORE reserves, right ?

Asian currencies on defensive; ringgit matches post-1998 lows
http://www.thestar.com.my/business/busines...post-1998-lows/

Goldman Warns China Outflows Rising in Both Yuan Payments, Forex
https://www.bloomberg.com/news/articles/201...-payments-forex

Don't panic, ringgit will bounce back, says minister
http://www.malaysiakini.com/news/366591

Ringgit will not crash.

An analysis of the ringgit pattern during every last quarter of the year exemplifies that even though the currency remains volatile and people become jittery, it is not going to crash, and will hardly be traded beyond 4.50 against the US dollar, an economist said.

I wonder if these 'experts' have vested interests in making such speculations or they are 'instructed' by higher ups to contain panic among the public?