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 USD/MYR v5

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TOMEI-R
post Dec 7 2016, 07:31 PM

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QUOTE(ILoveLalat.net @ Dec 7 2016, 05:05 PM)
Today it climbed down to 4.42. Very strong resistance at 4.50 it seems.
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Climb up you mean? tongue.gif

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? whistling.gif
TOMEI-R
post Dec 7 2016, 08:02 PM

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QUOTE(Avangelice @ Dec 7 2016, 07:53 PM)
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?
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A lot of people going overseas for holidays, so maybe they need the cash. tongue.gif

You get what I mean...
TOMEI-R
post Dec 7 2016, 08:08 PM

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QUOTE(Avangelice @ Dec 7 2016, 08:07 PM)
now that defeats the purpose of converting hard currency to take advantage of the fluctuation now wouldn't it.
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Or rather the ever depreciating currency is creating panic among such people.
TOMEI-R
post Dec 7 2016, 08:10 PM

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QUOTE(wil-i-am @ Dec 7 2016, 08:07 PM)
Ringgit seen stabilising in 1Q2017 - Miti
http://www.theedgemarkets.com/my/article/r...ing-1q2017-miti
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Though I would wish for it to be true, I don't particularly trust these bozos. sweat.gif Hope they would take more 'action' to stabilize the Ringgit rather than just mere talk.
TOMEI-R
post Dec 7 2016, 11:22 PM

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QUOTE(AVFAN @ Dec 7 2016, 09:05 PM)
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.
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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.

QUOTE(ILoveLalat.net @ Dec 7 2016, 10:32 PM)
I play the opposite. So it's not good for me. tongue.gif 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.
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So you are one of those 'speculators' who are causing the RM to dwindle! flex.gif
TOMEI-R
post Dec 7 2016, 11:47 PM

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QUOTE(AVFAN @ Dec 7 2016, 11:38 PM)
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".
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Some minister said you are not affected if you dont go overseas or buy imported stuff. whistling.gif

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?

This post has been edited by TOMEI-R: Dec 7 2016, 11:47 PM
TOMEI-R
post Dec 8 2016, 12:46 PM

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QUOTE(AVFAN @ Dec 8 2016, 09:22 AM)
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.
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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? tongue.gif

This post has been edited by TOMEI-R: Dec 8 2016, 12:48 PM
TOMEI-R
post Dec 8 2016, 06:07 PM

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QUOTE(aspartame @ Dec 8 2016, 03:43 PM)
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.
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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.
TOMEI-R
post Dec 9 2016, 11:11 AM

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QUOTE(icemanfx @ Dec 9 2016, 11:00 AM)
Inflation will accelerate bank interest rate rise.
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Yes, but whats the point when you have not much to save up anyway because costs of living went up.
TOMEI-R
post Dec 9 2016, 06:41 PM

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QUOTE(nexona88 @ Dec 9 2016, 06:15 PM)
did u realized something..

today seems a lot of prediction on MYR/USD thingy.. the most in 1 day  dry.gif

why suddenly so much report out? "someone up there" give out instruction huh  devil.gif  brows.gif
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Abuthen.. This is what they are good at no?

They think the rakyat are morons.
TOMEI-R
post Dec 9 2016, 11:04 PM

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QUOTE(wil-i-am @ Dec 9 2016, 09:32 PM)
I wud say it's a bit of Luck at d point of purchase since u need to buy regardless of the prevailing rates
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Regardless the rates are floating around 4.3 and 4.4. 4.2 would be too optimistic I might say.
TOMEI-R
post Dec 12 2016, 12:24 PM

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QUOTE(limeuu @ Dec 10 2016, 03:10 PM)
No need wait....long queues already at mvm now....
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That place is forever like that. People are flocking there to save the few ringgits. laugh.gif

QUOTE(AVFAN @ Dec 12 2016, 12:01 PM)
oil price up 5%.

public holiday today, less action onshore or offshore.

same same 4.42.
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For some reason, the US Dollar rose abit compared to two days ago.
TOMEI-R
post Dec 13 2016, 09:17 AM

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QUOTE(prophetjul @ Dec 13 2016, 09:09 AM)
We are in transition from subsidies. that's what subsidies do to a country....beggaring.

Plus of course our management style is reactive. Spend first , worry later.  Let the future gens take care of the father's sins
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Issue is, money saved from the transition are not spent somewhere most needed. No improvements on the economy either.

This post has been edited by TOMEI-R: Dec 13 2016, 09:23 AM
TOMEI-R
post Dec 15 2016, 10:44 AM

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Sad... thought it was a positive sign that MYR strengtened a little bit over the past week. Now its going down again.
TOMEI-R
post Dec 16 2016, 04:28 PM

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Still very far..... However, other currencies like SGD and Aussie Dollar seems to be falling against USD too.
TOMEI-R
post Dec 16 2016, 10:00 PM

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QUOTE(AVFAN @ Dec 16 2016, 06:39 PM)
u saw that too earlier when u commented "how come other em currencies...?". biggrin.gif

if one cannot see that, it will be hard to foresee what comes next.

intervention... long how, how much fx reserves, what controls next... good point.

the trouble is our major economic policies are largely dictated by politicians... u know...

they may do something "extraordinary" or just let go.

so, we will just have to see what we will see.
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Extraordinary? Peg the Ringgit? What extraordinary move can they make? Or you were implying letting the Rm freefall itself?
TOMEI-R
post Dec 17 2016, 02:12 PM

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QUOTE(puchongite @ Dec 17 2016, 02:10 PM)
Go back a few pages, check particularly all those big guns' prediction about ringgit, some top guns say rinngit is stabilizing at 4.1 ....
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Those 'big guns' are usually good in that. Just like the usual Malaysian policitians.
TOMEI-R
post Dec 19 2016, 07:45 AM

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QUOTE(Hansel @ Dec 18 2016, 01:01 PM)
Bro,... pls help me to confirm,... I discovered an arbitrage opportunity here ! AUD will be weakening these 2 to 3 days, but after it 're-strengthened', pls allocate a few minutes to help me cfm,... tongue.gif
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Im interested to know too. But Aussie Dillar is still hanging at 3.325 at the moment. Not really weaking as said. Why would the aussie ar be weaking?

This post has been edited by TOMEI-R: Dec 19 2016, 09:11 AM
TOMEI-R
post Dec 19 2016, 09:13 AM

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QUOTE(Hansel @ Dec 19 2016, 08:02 AM)
Morn bro,...

May not weaken too much against the RM, but noticeable effects against the SGD and the USD. The Parliamentary Mid-Year Review is today, and S&P is watching too. The review is expected to show negative news, and S&P will see. IF S&P lowers credit rating,... then got chance to buy the Aussie,...... But may not lower !!
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Will monitor and see if Aud drops these few days. Usually during festive and and holiday season, MYR will strengten a bit.
TOMEI-R
post Dec 19 2016, 11:06 AM

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USD at 4.475 now at money changers. shakehead.gif MYR took a slight dip against foreign currencies this morning.

This post has been edited by TOMEI-R: Dec 19 2016, 11:07 AM

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