If can hit RM3.5...ALL IN DUMP RM!!!!

Thats what i meant bro...dump RM for USD and SGD...😄

from the article... "we can finally buy a cheaper iPhone"... lol...

At 2.90 that is a rate of 2016, 8 years ago, wow really unbelievable. Too drastic also worrying.

It would be good if MYR hits 2.2 so I can convert the lot of ringgit I have stuck for decades and finally be rid of it. I can always buy at the dip in the future

Well, I do have some stocks denominated in USD so my dividends will now be worth less in SGD terms than they did before.

But it’s the way of the world… 风水轮流转.

Having said that, USD doesn’t occupy a large footprint insofar as my personal portfolio is concerned. I’m heavy on SGD and AUD as I have definite need for those currencies. So most of my passive returns are denominated in those 2 currencies.

MYR was a bit of an aberration… initially I harboured thoughts of returning to Malaysia but when my wife took up citizenship barely 2 years after we got our PRs it was clear she had neither the intention nor interest of ever returning home.

And after holding out for nearly 30 years, I’m joining her before the next leg of our journey which will take us to Australia for retirement.

I converted to USD and SGD to put in CSOP & Fullerton fund at Moomoo few mths ago. Should I withdraw all now and convert back to MYR😅 before MYR appreciates even more?

It's not that complicated, DXY is weakening so USD is weakening. When USD weakens with lower interest rate in US, big hedge funds flow their funds into emerging markets. Msia doesn't have to do anything, foreign funds just flow in and MYR strengthens. But our politicians like to take credits for this strengthening lol.

SGD is not strengthening against USD, it's just that USD is weak comparatively.

https://cdn-file-wealth.futunn.com/quote-fu...88d550b02dc.pdf

Not a tech etf

Because they have the bigger guns. Nuff said.

Luckily done my first batch 😔

Only can dream for 4.00 now...

Maybe next year only 🤔

so what is the simple way to gain from this? buy US and keep it at home?

every time you buy on news, you are already 50% late n risky...

trend is your friend until it ends...

Actually the strengthen of MYR is mainly because of US fed rates cuts...

But now with lower chance of rates cuts & increase of risk thanks to conflict going on... USD become safe heaven for many...

How about MYR moneymatch to SG OCBC USD multi currency ACC to Tiger brokers/moomoo USD MMF. Then when time right right withdraw USD back to USD multi currency account, transfer USD to IBKR?

Next time can ping me like this TOS

You type '@TOS' with square brackets around it.

Yea, the cheapest way to park your funds in IBKR is just use BIL ETF. Park all your USD save for a couple of dollars for commissions in BIL ETF. Withdraw anytime during US premarket/aftermarket or during normal trading session then you can use it to purchase any US stocks/ETFs instantaneously, even with cash account, no need for T+1 settlement unless you need to withdraw the money out of IBKR account into say, your USD bank accounts.

Try to avoid fractional shares with BIL ETF yea... At worst, you will leave behind some 90ish USD as cash in your IBKR account. Fractional shares for stocks with 4 digits share prices are easier to trade, but for double digit unit price like the case of BIL ETF it's a hassle to buy and sell. After all, your goal is short-term liquidity management here...

As for tax, indeed as Medufsaid said, there is a 30% WHT when BIL credit the dividends to you every month, but around early February of the following year, IBKR will reverse the WHT and refund you the money in your USD cash account.

The expected return of BIL ETF is about 20 basis points below the 1-2 month US T-bill yields, mainly due to the 0.14% management fee charges from SSGA and another 0.05% from the lost in interests on interests due to the 30% withholding tax.

*In case you wonder how to compute the lost in interests on interests... here's the maths:

Assuming you start in February in year 0, you lose 5%/12 * 30% WHT * 5% , the second 5% being the interests on interests. In March, you lose 5%/12 * 30% WHT * 5% * (11/12), now you lose (11/12) of the annual interests on interests (you only got 11/12 of a year left to compound your interests on interests until next year's February, when IBKR refund you the 30% WHT), but the capital remains the same, i.e., 5%/12 month * 30% WHT. So the total opportunity cost, in simple interest terms, to first order effect (we ignore interests on interests on interests and .... on interests...  and... ), the sum of series is 5%/12 * 30% WHT * (1/12) * (12+11+10+...+1) = 0.04% p.a.

Do correct me if my maths is wrong... my head is spinning all over the place writing my PhD qualifying exam report...

So everyone converts MYR to USD but not the other way round?

wanna test 4.4...

when half the ppl lari tax... gov not enough money to do much...

bnm has actually relaxed a lot of regulations and restrictions on fx... meaning got confidence lah... yall just dunno what is happening.... start a lot of fud here and there... hahaha...

but recovery will be slow... if 4.88 i will convert all my usd back to myr... regret didn't convert enough... hahaha