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

This post has been edited by Hansel: Dec 7 2016, 09:04 PM

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,...

As you said earlier, the RM has been dropping in the last two years,... I supposed we have been hoping for the best with the RM all while, hoping for s strong turnaround, which never came. We have been waiting thanks to people from your previous posting,...

But,.. we only have ourselves to blame, we should be able to think for ourselves,...

Start to change, start to open more accounts overseas,...

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.

Ok bro,... sorry to say the earlier things so openly,.. never ever wanted to hurt people,...

I don't see China and USA inside. I think if USA suddenly ramps up her production with DT in the chair, oil price wouldn't really benefit much later on.

I noticed that when Msia is not working, then RM tends to be stronger, and vice-versa,... any similar observations please ?

Only 3% ? I find that hard to believe,... lots of ASX FP investors got more than USD100K worth inside,... maybe the source of this info will help to explain more to us.

Tq gents on the millionaire explanations,....

As for the rate movement,... I noticed some events lately, before Msia starts working and after Msia starts working,... If I convert before KL starts, the rate was better. Then,... the MYR weakened later on,.... but my observation was for a few days only, hence not a sufficiently big sample. Tks bro,....

The ruling is the exporter must bring back the export proceeds into the country, ie repatriate back to a licenced Msian onshore bank, within three months after the transaction. Hence, the exporter can wait and wait till the RM strengthens before TT'ing out from the overseas acct where the fund is parked.

Or,... the exporter may give a 6-month credit term to the overseas customer, then the overseas customer pays in 6 months time into the overseas bank acct., and the 6-month 'bringing-back period' will be for another 6-months from thereon. All in,.. one year to bring back and convert into the RM,....

BNM should track the proceeds which are incurred during exports - then again, don't know whether they do this accurately or not ?? Chances are high they don't.

If wanting to force monies back,... the Indon govt is doing it now,... can see their model,... but if this happens, all ministers also 'kena',...

BUT : if exporters don't bring their money back, we also die,... if the RM can't appreciate.

So,..................which one do you guys want ????? I vote that the exporters bring back. Somebody will have to lose here, cause we are staying in Msia. WE hold the Msian Passport, and we are born in Msia.

Knowing our govt,... 3 or 6 months later,...everybody will forget abt it, people would have changed, documents missing, hard disk crashed,...

Unless they happen to target one or two lar,... see who 'gets the lottery',... BNM also wants to have an easier life,....

I saw on Bloomberg this morning that EM Currencies and Stocks are moving in tandem with the US Mkts overnight,...

I don't see out RM strengthening against the USD this morning. The RM even weakened vs the AUD and the SGD compared to yesterday,...

Did I miss something ??

Bro,... it would be tomorrow morning, right ? The press conference with Ms Yellen is on the coming morning at 2 am,....

And then why did Bloomberg mentioned specifically that EM Currencies gained, and I even saw they wrote the RM and the Won gained against the $ this morning,... I did not study the Won, but I sure know my RM did not strengthen,.. in fact it even weakened this morning when I looked.

I think no chance to strengthen already,... this will be the new norm,.....

Yes,... this is the thing,.... even if there are going to be any problems, these people will find a way out for the USA,.... Looking at things, maybe my man DT is smart after all,....

Fed news conference running now,... rate rise confirmed this morning.

BANKS EXTEND RALLY AS FED SEES THREE RATE HIKES.

FED RATE PATH SINKS BONDS, OIL, EURO, YEN.

FED RAISES RATES, BOOSTS OUTLOOK FOR BORROWING COSTS IN 2017.

The Ringgit has decoupled from oil price since two months or so ago. I'm glad I've been converting out earlier,...

I think the 25bp hike is priced in everywhere already,... no issue there,..

The only mkt movers are :-

1) the no of hikes next yr.
2) the tone of the Fed Chair.
3) how the Fed Chair intends to work with DT.

I think 2) and 3) above contradicted mkt expectations highly, hence the selloff seen now.

Good analysis there, AV,... Going back to RM strength, looks like there is still nothing in the horizon to re-strengthen the RM again. In fact, if we wait longer, the RM will even continue to weaken, making us lose more purchasing power. These are indeed very abnormal times.

RM is a gone case !