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 USD/MYR v5

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Hansel
post Dec 28 2016, 12:32 PM

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QUOTE(AVFAN @ Dec 28 2016, 11:12 AM)
that's the point.

if mortgage owners are to be spared, there is no other way but to let the RM depr further.

until the confidence returns.
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QUOTE(icemanfx @ Dec 28 2016, 11:38 AM)
Bank interest rate tends to track inflation rate.

Many claimed property is a hedge against inflation.

2% hike over the next 2 to 3 years is not unexpected.
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QUOTE(the99percent1 @ Dec 28 2016, 12:02 PM)
A 2% hike on a fresh 35 years 600k RM loan equals to additional 300k RM in interest payments! (using 4.25% ELR adjusted to 6.25% ELR) 

Bank interest rates does not track inflation rate, where you get that idea from?  inflation normally reduces if interest rates rises.

but your home loan mortgage is fubar. Not to mention, no secure investment will return you 6%, so you are losing money to the banks..

As I mentioned, 2% is suicidal and will cripple the housing market, the banks and the economy.
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All these discussions keep signaling to me that there is really no way out for the RM but to depreciate further in 2017 !!!
Hansel
post Dec 28 2016, 10:38 PM

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QUOTE(AVFAN @ Dec 28 2016, 05:10 PM)
there may already be some indication today.

the weeks old 4.47x barrier's been broken, now at 4.4835.

can't see how it can stay put when yen, RMB, won, SGD are all sliding.

a crawling peg, it is.
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The other countries are not defending with their reserves. Hence, perhaps the RM can stay put and not slide like the rest !
Hansel
post Dec 29 2016, 06:08 PM

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QUOTE(TOMEI-R @ Dec 29 2016, 11:09 AM)
But the Ringgit is still standing still while other currencies are sliding a little bit, with the exception for US Dollar of course. Good sign or temporary relief?  unsure.gif
Hopefully, but then again maybe its high time to change to the 'sliding' currencies? AUD is really attractive now at 3.243. rolleyes.gif
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Yeah,... AUD is good now,... but only if we have use for AUD in the immediate future, will we change to the AUD now to mitigate the forex risks against this currency that we needed now.

Otherwise, since the USD is targetted to appreciate against ALL currencies in future, wouldn't it be logical to change over into the USD as an interim currency for now ? Then the moment we have use for, say, the AUD sometime in future, then we convert from the USDs in our hands into the AUD,.... good move ?
Hansel
post Dec 29 2016, 06:20 PM

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QUOTE(AVFAN @ Dec 29 2016, 10:58 AM)
a perspective from bangkok:
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Read through the article by the Bangkok Post. I get the feeling that they are really 'hammering' Msia. Not that I disagree with what their editor approved for publication, or that I am supporting what Msia is doing,... but really,... the Thais are commenting badly against 'us'...
Hansel
post Dec 29 2016, 06:40 PM

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QUOTE(TOMEI-R @ Dec 29 2016, 06:22 PM)
But the USD is at 4.48 now... sweat.gif  Not sure if its a good move to enter now.
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QUOTE(AVFAN @ Dec 29 2016, 06:30 PM)
the $ will gyrate but the uptrend is intact.

such major moves gather a lot of momentum, will not last for just a month for 2.

esp when the fed continues to talk hawkish.

remember, trump hasn't even been sworn in!
one must not be emotional when reading local or foreign reports.

if u do, u will become biased and not read much.

compared to some local experts/bernama reports, i thought the article was fair.
if interested, read this one... has some good data on world currencies:
https://www.bloomberg.com/news/articles/201...-assets-of-2016
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In bold,.. that's what I thought too,... DT is not even officially onboard yet ! Wait till Jan 20, Friday, when he sits there officially,.. BUT : if he changes his policy totally from what he promised to do earlier, then the USD will weaken back !!!!!!!!! brows.gif

Then there is also the probability that everything has been priced in already by now.
Hansel
post Dec 29 2016, 06:45 PM

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Bro AVFAN,... where do you see to derive the below ?

"the weeks old 4.47x barrier's been broken, now at 4.4835."
Hansel
post Dec 29 2016, 09:41 PM

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Tq AV,.. bbgoat and Tomer fro your good insights and opinions,... I don't know what else to comment upon,... so much uncertainties now.

Think I'll just continue converting out my RM !
Hansel
post Dec 30 2016, 10:06 AM

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Only thing to do now is to convert out whatever we have. Other things are all beyond our control !
Hansel
post Dec 30 2016, 10:45 AM

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QUOTE(AVFAN @ Dec 30 2016, 10:22 AM)
today is probably a good day to buy USD:

.. $ index at 2 week low.
.. thin trade at year end, short term players pushing up euro.
.. china expanding RMB basket of currencies on 1 jan 2017, likely to move down further.
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But moneychangers are not dropping USD exchange rates this morning.

RMB should strengthen if they increase the basket of currencies, right ?
Hansel
post Dec 31 2016, 08:51 PM

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By this evening,..

USD - 4.4441
AUD - 3.2199

RM might strengthen further tomorrow,... and then on Monday,.... before works starts on Tuesday !
Hansel
post Jan 1 2017, 10:17 AM

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QUOTE(TOMEI-R @ Jan 1 2017, 07:58 AM)
Rm will strenghten because of this..  But it wilk definately hurt the people. Question is,  good or bad?
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I think so too,... but any rates from moneychangers yet this morning ??
Hansel
post Jan 1 2017, 01:00 PM

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QUOTE(bbgoat @ Jan 1 2017, 10:50 AM)
Your opinion RM will strengthen next week ? I was trying to decide to buy USD on Tuesday or Thursday next week.
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Hmm,... not sure, bro,...but changing into the USD has a smaller chance of making mistakes, since BNM is 'subsidising' the USD now.
Hansel
post Jan 1 2017, 01:03 PM

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QUOTE(TOMEI-R @ Jan 1 2017, 10:52 AM)
Just checked. No difference from yesterday. Effects should be after the holidays.
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Appreciated yr cooperation to help chk, bro,... tq,...
Hansel
post Jan 1 2017, 01:17 PM

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Latest at moneychangers :-

USD : 4.4490
AUD : 3.2230
Hansel
post Jan 1 2017, 11:26 PM

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QUOTE(AVFAN @ Jan 1 2017, 07:57 PM)
bro, are these rates buy or sell?
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Sell Rates by moneychangers, bro,... you have noticed something,... what is it pls ?
Hansel
post Jan 1 2017, 11:44 PM

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QUOTE(AVFAN @ Jan 1 2017, 11:38 PM)
no, nothing. 0.5% movement is not very meaningful.

we'll have to see what happens between now with petrol price incr and BNM's jan 19 meeting.

imo, 11% petrol price incr will fuel inflation, adding more pressure on the RM.
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OK bro,... but if inflation goes up, BNM will have a good reason to increase the OPR. This will strengthen the RM instead,.....
Hansel
post Jan 2 2017, 10:10 AM

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MYR weakening this morning,.. as according to interbank rates !!!
Hansel
post Jan 2 2017, 11:08 PM

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QUOTE(Ramjade @ Jan 2 2017, 01:58 PM)
Only SG DBS MCA allows that. All Malaysian banks must convert RM > to whichever currency you want.

If you want to send money overseas, can try money changer like merchant trade. I asked them before:
(i) can send money overseas? - Can
(ii) what's the rate? - The rates displayed on our board.
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Bro here is an expert too,... guys, if you read back my posts here, you will see I have earlier mentioned many times to open a DBS MCA Acct, BECAUSE THIS ACCOUNT ALLOWS YOU TO BANK IN FOREIGN CURRENCIES OVER THE COUNTER.

I can see the light has finally dawned on why this is very impt. ...

Bro,.. I know of moneychangers who are able to do TT, but the countries are limited. Theycan do only to countries like Bangladesh, India, Myanmmar and one or two other countries. But NOT to Singapore, Australia, Canada,....
Hansel
post Jan 2 2017, 11:16 PM

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Just found this for sending money overseas !

http://www.eremit.com.my/#homerate

The rates are horrible !
Hansel
post Jan 3 2017, 08:44 AM

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QUOTE(Ramjade @ Jan 3 2017, 08:29 AM)
Merchant trade let you do (transfer to Singapore). You can test water by trying SGD100 and see.
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Expensive rates, bro,.... see for yourself,...

SG and AUS started strongly this morning :-

1) SG's economy GREW strongly in Q4,...

2) AUS Indices starts strongly this morning,....

Edited grammar errors.

This post has been edited by Hansel: Jan 3 2017, 08:46 AM
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