Today it climbed down to 4.42. Very strong resistance at 4.50 it seems.

Climb up you mean? 

Most money changers were out of stock for USD today because of the slight recovery. Too many people waiting to change or money changers are keeping because they expect the currency to dip lower?

very curious of how those people actually make money out of constant conversion of hard cash through money exchangers.

Do they know by converting two times, part of their money goes into the money exchangers?

very curious of how those people actually make money out of constant conversion of hard cash through money exchangers.

Do they know by converting two times, part of their money goes into the money exchangers?

A lot of people going overseas for holidays, so maybe they need the cash.

You get what I mean...

now that defeats the purpose of converting hard currency to take advantage of the fluctuation now wouldn't it.

Ringgit seen stabilising in 1Q2017 - Miti
http://www.theedgemarkets.com/my/article/r...ing-1q2017-miti

very curious of how those people actually make money out of constant conversion of hard cash through money exchangers.

Do they know by converting two times, part of their money goes into the money exchangers?

If RM depreciate some more? They already earned automatically. Many hope that RM will depreciate some more (their thinking) so that they can benefit from more RM.

Climb up you mean? 

Most money changers were out of stock for USD today because of the slight recovery. Too many people waiting to change or money changers are keeping because they expect the currency to dip lower?

very curious of how those people actually make money out of constant conversion of hard cash through money exchangers.

Do they know by converting two times, part of their money goes into the money exchangers?

Good movements against the USD today, despite the reduced foreign reserves ann't.. Probably analysts expected the drop will be more, but instead, the drop was only 1.9Bil USD ONLY,...

So,... MYR strengthened,.. I recalled this afternoon, it weakened a bit back to 4.43,...then turned around again.

Added : https://au.finance.yahoo.com/q/bc?s=MYR%3DX&t=1d

Benefit is not the right word.

How to benefit when more rm is needed to buy the same thing?

It is about protection of wealth, not benefit.

Of course, no protection or hedging, u lose.

I play the opposite. So it's not good for me. Anyhow, have to average down, maybe take profits first.
Actually, it can be the same for if one is playing forex as trading commission comes into play. I know you are referring to the spread the money changers charge but I prefer currency options myself. I do not have a forex account, nor forex options, so I have to live with this, what to do.

Good movements against the USD today, despite the reduced foreign reserves ann't.. Probably analysts expected the drop will be more, but instead, the drop was only 1.9Bil USD ONLY,...

So,... MYR strengthened,.. I recalled this afternoon, it weakened a bit back to 4.43,...then turned around again.

Added : https://au.finance.yahoo.com/q/bc?s=MYR%3DX&t=1d

Agree with that. More towards protection of one's wealth and interest. How can there be much benefit when most of our wealth/ interest is here and we are earning this currency.

that's the whole point of this thread since 2 years ago - protect yr hard earned savings, don't just watch it decay in times like these.

it is utterly miserable for low-mid wage earners and pensioners/retirees counting on their meager savings and epf funds for kids' education, medical expense and retirement only to meet with a 30% cut in purchasing power in a short 2 years.

and all they get is "all external, can't control, not too bad".

Some minister said you are not affected if you dont go overseas or buy imported stuff.

Those who realize our currency is turning into 'duit pisang' ought to take measures to limit their losses. Worst of all, we cant rely just on property now to protect our interests as even the property market is facing some very turbulent times.
Yes we can say every country is having hard times right now, but how come that it seems our Rm is the one hit the worst?

Good points above,...but how to mediate ? Convert now and not wait anymore because the RM does not really have any sign that will help it ??

Because if we don't convert now, chances are the value will drop more moving forward,...

Meanwhile, Ramesh said moving forward, the ringgit was expected to remain at the current level in the short term, before bouncing back to about RM4 per US dollar in the first half of 2017.

“I strongly believe that our exports will improve and oil prices are going to remain at around US$60-US$65 per barrel in the first half of next year, in line with the recovery in other commodity prices.

“A lot of foreign investment is expected to come in the future, particularly due to the lower ringgit,” he said. - Bernama
http://www.thestar.com.my/business/busines...it-unnecessary/

So you are one of those 'speculators' who are causing the RM to dwindle!

see, that is what i'm thinking - what will make it appr? other than $ falling?

and then u read this kind of thing from dunno who... 

why is it that when a currency goes to the dogs, "A lot of foreign investment is expected to come."?! a lot of foreign $ going to turkey, venezuela, egypt, nigeria, argentina too? or getting dumped harder?

and oil price will magically shoot up from 50 to 65 within 6 months? please...

Some minister said you are not affected if you dont go overseas or buy imported stuff.

Those who realize our currency is turning into 'duit pisang' ought to take measures to limit their losses. Worst of all, we cant rely just on property now to protect our interests as even the property market is facing some very turbulent times.
Yes we can say every country is having hard times right now, but how come that it seems our Rm is the one hit the worst?

i know i asked this before...........

while those who invested outside heavily can pat theirselves on the back and be smug.....think of the rest who have not.

HOW much do you hedge your net worth in foreign assets  IF you are NOT MIGRATING?

buy foreign stocks?

Jomo: Loss of confidence in government a key dampener of ringgit performance
http://www.theedgemarkets.com/my/article/j...git-performance

The writing is on the wall

Any assets class: Stocks, properties, businesses, etc

i know i asked this before...........

while those who invested outside heavily can pat theirselves on the back and be smug.....think of the rest who have not.

HOW much do you hedge your net worth in foreign assets  IF you are NOT MIGRATING?

Jomo: Loss of confidence in government a key dampener of ringgit performance
http://www.theedgemarkets.com/my/article/j...git-performance

The writing is on the wall

i know i asked this before...........

while those who invested outside heavily can pat theirselves on the back and be smug.....think of the rest who have not.

HOW much do you hedge your net worth in foreign assets  IF you are NOT MIGRATING?

AVFAN and me had discussed before. I was ~20% 2 years ago. Now, not much improvement I think around ~30% only. Mainly because I have illiquid assets in ongoing business.

Not as much as I wish to. But I plan to achieve at least 50%-80% if possible. Leave some in malaysia as I think this is still the best country to live in

Seeing the rate over this few days, especially after the BNM announcement last Friday, I have a feeling that 4.4x is the support level for RM. When calm returns, RM might appreciate back to 4.0x

This has happened before last year. Panic selling makes RM went to ~4.5x. Then in the next few months, it appreciated back below 4.00

i know i asked this before...........

while those who invested outside heavily can pat theirselves on the back and be smug.....think of the rest who have not.

HOW much do you hedge your net worth in foreign assets  IF you are NOT MIGRATING?

bouncing within a range is very normal.

i think we need to watch a couple of weeks more to see a trend, if any.

.. $ index declined to 100.2x; last few days, $ softened against all major currencies.

.. SGD/RM still at 3.13; AUD/RM 3.32.

.. no info on whether bnm is still intervening or not.

i know i asked this before...........

while those who invested outside heavily can pat theirselves on the back and be smug.....think of the rest who have not.

HOW much do you hedge your net worth in foreign assets  IF you are NOT MIGRATING?

Yes, the market rates is hovering these 2 weeks around SDG $1 to Rm3.12-RM3.13 +-. Any hopes for it to bounce back up again?

8 December 2016:
100 Thai Baht equals 12.45 Malaysian Ringgit...

AVFAN and me had discussed before. I was ~20% 2 years ago. Now, not much improvement I think around ~30% only. Mainly because I have illiquid assets in ongoing business.

Not as much as I wish to. But I plan to achieve at least 50%-80% if possible. Leave some in malaysia as I think this is still the best country to live in

this kind of comment will be frowned upon by the power ones.
they only want rosy politically correct talk.
talk some more, he may get harassed/arrested.
and that's precisely the issues - non transparency, confidence.
me, about 40%, target  is 50%.

Half....and comfortable with that level....still need to live and spend here, not migrating....

Going forward, if opportunities arise (ie periods of strong myr), will move more out....just need to keep enough for local spending....rest is cheap overseas holiday money....lol

I started moving from 0% in 2012 to almost 80%. Exclusively USD exposure (no sgd, aud etc).
I think I went overboard since I'm planning to retire here. Now scaling back, targeting 50% max, and may also diversify out from usd.

long time ago, rm1 = baht 11
2014 rm1 = baht 10
2016 rm1 = baht 8

ya, nothing wrong, only usd strong, other currencies also falling bad, all is speculators fault.

I started moving from 0% in 2012 to almost 80%. Exclusively USD exposure (no sgd, aud etc).
I think I went overboard since I'm planning to retire here. Now scaling back, targeting 50% max, and may also diversify out from usd.

I think the absolute amount counts as well though obviously no one is going into details about their net worth here. What I mean is assuming your net worth is 100k and you have 100% invested in foreign assets compared to a person with 10mil net worth with 20% invested in foreign assets, then of course the person with 2mil invested overseas can say that what they have overseas is quite significant and can even allow him or his family to survive on foreign assets alone for quite sometime compared to the person with 100k overseas. I understand that to compare across individuals, percentage is the only metric suitable but in my opinion absolute amount is important too. The higher one's net worth especially if one has multiple properties, I think the lower one's foreign assets % is in practice. In short, I don't think there are many rich people with more than 30% of their net worth invested in foreign assets not counting those who has migrated or has plans to migrate or has dual residence.

I think the absolute amount counts as well though obviously no one is going into details about their net worth here. What I mean is assuming your net worth is 100k and you have 100% invested in foreign assets compared to a person with 10mil net worth with 20% invested in foreign assets, then of course the person with 2mil invested overseas can say that what they have overseas is quite significant and can even allow him or his family to survive on foreign assets alone for quite sometime compared to the person with 100k overseas. I understand that to compare across individuals, percentage is the only metric suitable but in my opinion absolute amount is important too. The higher one's net worth especially if one has multiple properties, I think the lower one's foreign assets % is in practice. In short, I don't think there are many rich people with more than 30% of their net worth invested in foreign assets not counting those who has migrated or has plans to migrate or has dual residence.

Seeing the rate over this few days, especially after the BNM announcement last Friday, I have a feeling that 4.4x is the support level for RM. When calm returns, RM might appreciate back to 4.0x

This has happened before last year. Panic selling makes RM went to ~4.5x. Then in the next few months, it appreciated back below 4.00

Agreed. My purchase history of USD, using TT:

Aug 2015: 3.96
Jan 2016: 4.45
Aug 2016: 4.04

I hope Jan 2017 it stable at current level or best still, go to 4.0x. 

wonder if can ever reach Aug 2015 rate back       

I would disagree on that. Most tycoons and very rich people all have a lot of properties, businesses overseas. They even send their children overseas and help them settle down over there getting Citizenship over there. Ask our local vips and politicians and see where they send their children to? In short, most of the elite already know that the country and the economy is in the ruins long time ago and hence send their children to seek greener pastures overseas. Now don't get me wrong, I love this country and Im not being unpatriotic by saying such things but these are the bare facts. Only the common people like you and me are stuck here.

In April 2016, it even dipped lower than that !

http://www.xe.com/currencycharts/?from=USD&to=MYR&view=1Y

now that china is bailing out 1mdb, any chance of myr strengthening? what do you all think?

before u ask others, pls say what YOU think first.

Agreed. My purchase history of USD, using TT:

Aug 2015: 3.96
Jan 2016: 4.45
Aug 2016: 4.04

I hope Jan 2017 it stable at current level or best still, go to 4.0x. 

Agreed. My purchase history of USD, using TT:

Aug 2015: 3.96
Jan 2016: 4.45
Aug 2016: 4.04

I hope Jan 2017 it stable at current level or best still, go to 4.0x. 

Unlikely to move so drastic unless exceptional events

u sound very frus and desperate! 

jan is < a month away.

watch dec 14, fed hike imminent.

i give 4.0x 5% chance, 4.3x 35%, 4.4x 60%.

and i see BNM continuous intervention using reserves to keep it <4.50.

now that china is bailing out 1mdb, any chance of myr strengthening? what do you all think?

now that china is bailing out 1mdb, any chance of myr strengthening? what do you all think?

now that china is bailing out 1mdb, any chance of myr strengthening? what do you all think?

Ya, the 4.0x level NOT likely to reach. More likely is 4.3x the most. 
Did I sound frus and desperate ? 

Read my lips, I said earlier: I hope it stabilize at current level, by Jan 2017. 

Ringgit To Strengthen To RM4.00 Against US Dollar In 2017: Trade Expert
http://www.malaysiandigest.com/business/64...ade-expert.html

Hmm boleh percaya kah     

Bank Negara to iron out admin processes following latest measures
http://www.thestar.com.my/business/busines...atest-measures/

BNM under pressure fr industry players to calibrate its measures

Ringgit To Strengthen To RM4.00 Against US Dollar In 2017: Trade Expert
http://www.malaysiandigest.com/business/64...ade-expert.html

Hmm boleh percaya kah     

Using BNM rates (from the Interbank Foreign Exchange Market in Kuala Lumpur at 11.30am) and comparing the exchange rates on 1 November (before the US presidential elections) and 1 December, against the three countries, the results are not satisfactory. The Chinese Yuan and Thai Baht strengthened about 5% and Singapore Dollar (SGD) about 4% against RM.

If we go back further to 2 January 2013, the Yuan, Baht and SGD have strengthened 33%, 26% and 25% respectively against RM.

You can say the time when the RM crashed to as low as RM4.725 to the USD on 7 January 1998 is the worst. Let us be wary that we are still in the middle of a whirlpool.

Let us now look at the real effective exchange rate (REER). It is the weighted average of a country’s currency relative to an index or basket of other major currencies, adjusted for the effects of inflation. The World Bank website on REER index (taking year 2010 = 100) shows that in 2015, RM slid to around 92 while Yuan and SGD increased to 131 and 111 respectively. There were no figures for Baht. USD itself increased to around 114. For 2016, obviously the position will not be better for RM.
http://www.malaysia-chronicle.com/state-of...on-to-najib-co/

Cakap-cakap saja..I never believe what they say, whether true or not true (mostly not true)

Wonder if there is something at stake like if it never happen they lose their job kinda thing...will they even dare to say that 

So many trade experts has been wrong. If they were right they wouldn't be working as experts as they can just invest/short in whatever they say is right and be rich.

Good opinions,...I think I will start to convertout lar,... really nothing much to say anymore, and there is really nothing to help MYR in the near future,...

Asset prices overseas are dropping,... need to prepare my warchest.

Weak MYR also weak-lar,... what to do ???

We were born in Msia,... that's the thing to blame.

Survey shows millions of Malaysians in dire straits with poor financial management behaviour and little savings and mounting debts.
http://www.freemalaysiatoday.com/category/...no-way-to-live/
THE COMING RECESSION WILL BITE VERY DEEP: ONLY 6% OF M’SIANS CAN MAINTAIN THEIR LIFESTYLE FOR 6 MONTHS AFTER JOB LOSS – SURVEY
http://www.malaysia-chronicle.com/the-comi...ob-loss-survey/

well, should feel fortunate if u can still fight, convert, prepare.

young and old, many will be devastated:

Good opinions,...I think I will start to convertout lar,... really nothing much to say anymore, and there is really nothing to help MYR in the near future,...

Asset prices overseas are dropping,... need to prepare my warchest.

Weak MYR also weak-lar,... what to do ???

We were born in Msia,... that's the thing to blame.

well, should feel fortunate if u can still fight, convert, prepare.

young and old, many will be devastated:

I saw the tittle become USD/ MYR 5...dem...

China Factory Prices Jump 3.3%, Lifting Global Inflation Outlook
https://www.bloomberg.com/news/articles/201...flation-outlook

if rm is to strengthen, better it do so soon!

becos china inflation is rising again.

tonnes of china imports everyday.

add oil price +15% since nov 30, expect petrol price to jump 25-30 sen a liter on jan 1.

brace for heft prices increase very soon.

Inflation will accelerate bank interest rate rise.