Too bad my Vickers can only be ready in 1 week time. Hansel, I would like your opinion about the MCA issue. Check the SG account thread. I believed I have an answer to your question?

USD Index dropped back to 101.56 as of now !

GDP is gov's report card.. .anything can shout GDP and so-call fundamentals

$ index has gone from high of 103.81 to 101.70 or 2% in the last 1 week.

but RM is still at 4.474.

yen, euro, aud, sgd all high vs RM.

you wonder if the RM is actually that weak or BNM is now buying $ to maintain the "peg" with $ while boosting reserves at the same time.

CB TT rate was maintained for about 2 days. Then this afternoon adjusted down from 4.5115 to 4.5085.

This rate was lower than late Dec (after 19th)'s USD TT rate. While last Thurs I did TT at 4.5245.


This post has been edited by bbgoat: Jan 10 2017, 02:49 PM

http://www.thestar.com.my/business/busines...om-19-year-low/

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.

The only situation that I feel right now is the Rm is getting from bad to worst. No other ways about it. The only time the Rm really strengtened a bit was when almost all currency traders were not trading during the Christmas and New Year holidays.

USA:MYR seems frozen!

USDX has dropped. Yet MYR has not gained et al.....are we seeing the cliff on the other side?

Bnm objective was to reduce volatility, not to strengthen the myr. Why the surprise?
The local exchange is now determined based on onshore transaction. Usd index fall, but how many of you are selling usd buying myr right now onshore? Most people will likely wait and see...so the rate also wait ..

ya, everyone noticed.

$ index now 101.67, declined a lot.

SGD 3.13
AUD 3.33

perhaps it is true... intervention was to keep $/RM "peg", to hell with the rest.

so, all that menteri, bnm, experts talk of recovery to 4.3, 4.1 is BS... for now.

bad bad news for parents needing AUD, SGD for education.

and yes, we will have to see what happens when $ rises again.

I compared CB TT rate last Thursday to today. IT was 4.5245 versus today 4.4995. 2.5 cents difference. Also a movement of close to 1 cent as compared to 2 days ago. Slow movement. I would have saved couple of hundreds today.

This actually means that Rm is still on the decline. Just that it doesn't look so bad against the US dollar because the US dollar is declining too. Once the US dollar appreciates, we will feel the pinch.

that's about right, confirms what we said.

0.025/4.5245 = 0.55%.

$ index dropped from 103.6 to 101.6 = 2.0%.

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,....

i am unfortunately or fortunately on eof them. The Aussie has been rather resilient these past months.
{m Sep 2016, when i visited Brisbane it was around 3.05. Now its risen to 3.4
Tough times indeed!

But could it be that RM could have worsened to >4.5 if not for the intervention by BNM ? Now still under "controlled" appreciation ?

The RM did breech 4.5. Then BNM intervene to keep it at 4.48. Buring USD2b of reserve as a result. Before the decline of the USD, it was cheaper to buy USD as USD was definitely >4.5 but held at 4.48 by BNM. Now it's the other way around I think.