Bro,... too much to write and to explain,... I'm consolidating my funds now for further sending-out. Don't know why,... my moneychangers are seems to be not so 'active to me' anymore,...

Look at the running numbers at the top of the webpage. That is the TT out rate,... it's even higher than Maybank's for the AUD,...

Bro,.. you try those in MV,... talk to them.

Bro,... been changing all over the recent holidays. My Average rates :-

1) USD : 4.4692
2) AUD : 3.2306

What do you think ?? Other forummers ? Are these rates acceptable ??

Never heard of anybody exchanging at the moneychangers been hauled up,... yet ! ..maybe amts are actually negligible compared to the others out there !

Ok,... tks bro,...

China is clamping down : must fill-in forms before buying foreign currencies, and has been stated by the Govt that foreign exchange CANNOT be used to buy homes abroad and to buy shares abroad.

Will our Govt do this ?? Soon ?? Or anytime in future ??

The difference here is the Chinese Gov't has emphasized specifically that the foreign exchange cannot be used for the following three types of foreign purchases :-
1) homes.
2) shares.
3) insurance.

So,.. the Chinese can't change money anymore for the above purchases.

I think there's no issue here, bro,... I've changed quite some amounts, filled-in many forms everywhere and given my IC everywhere.... nothing happened. I think our amts are still small, relatively,....

SO : NO NEED TO FRET ABOUT THIS, BROS,... DON'T WORRY,......JUST GIVE YOUR ICS AND FOLLOW WHAT THE MONEYCHANGERS ASK TO DO IF THEY ARE ABLE TO GIVE YOU GOOD RATES.

Move-on,..... think abt where to get good rates from,... and what to do with the money after having been converted over,...

Since the $ Index dropped since last night, why don't I see the Maybank TT Rate dropping back to below 4.50 this morning ? This instead went up higher than yesterday's rate, ie went up to 4.54 today. I wonder if this TT Rate will drop tomorrow,...

Shld drop, right ?

Bro,... based on the above, so Bloomberg rate = BNM rate = Onshore rate ?

Still,...I can't figure out why did Maybank Treasury not drop their counter rates for TT today...

$ Index retreated further to 101.43 now. Let's see if Maybank Counter Rate will drop for us tomorrow or not !

you won't regret it, bro,... but do make use of the accounts ! Build-up yr knowledge on SG instruments,....

USD Index dropped back to 101.56 as of now !

Yeah bro,... good analysis there,... we continue to suffer when our natural currency earned is the RM.

Of course,... if the RM becomes stronger, we will get more foreign currencies when we convert out ! But,... the situation becomes killing when we wait and wait and the RM drops lower and lower instead of strengthening ! This is what happened to me in the last few months.

Yeah,... BNM's objective is to keep the USDMYR stable. Hence, even if the USD weakens against the MYR, BNM will just let the rate stays, and perhaps 'makes money' here ?

For parents who have not accumulated sufficient SGD and AUD for their children's education, they have to convert as quickly as they can now, with the best possible exchange rates, and with the lowest possible fees to send the funds over. Then these parents will need to find methods to make such needed foreign currencies in the destinations of choice.

There is no other way, for the longer these parents wait, and the weaker the MYR goes, the more MYR is needed for conversion into the foreign currencies needed to finance the other side. For 'new parents' who started sending their children out last year or soon this year, the timing is really against them,....

Going by the outlook for the MYR and the AUD, if you still have use for the AUD to finance your child in AU, it will be better for you to change into the AUD as fast as you can now,.. in the meantime, if your child is able to work there under immigration laws, ask him/her to find a job.

Frankly,... when one's child first started to study in AU, it is good that the parent invests into AU,... so that after some years, there will be income from the investments without forex risks. Then the parent would not need to TT so much RM-converted funds over anymore later-on !

This post has been edited by Hansel: Jan 12 2017, 12:42 PM

Yeah, bro,... in the early days, if one had enough Aussie cash, they just need to bring over lots of cash and put into FD, then can use the earned interest for daily expenses already ! But not anymore today,...FD rates today are low in AU and NZ.

Personally,... I seem to be progressing well with Aussie divvy stocks... If you're into Aussie divvy stocks, we can talk further. We can talk over at the ASX thread ! Doors are still opened, must follow their rules well,....

This post has been edited by Hansel: Jan 12 2017, 01:57 PM

Actually,.. it is good for Sgp, to show the world of its integrity, and more people and institutions will put money there,... then Sgp will be a financial hub. Better than Switzerland.

We investors would want this too, right ?

I think bad for RM !!!!!

If you are right, bro,... I'm glad I invested into SG 10 years ago,... tq, bro,...