Break 3.57 this morning. Syiok...

RM breaking new lows every day.

congrats to USD, SGD, gold holders.

even viet dong is gaining big time against RM.

the trend will continue as nobody seems interested to explain the real reasons, let alone how to deal with it!

Next Target SGD 4 and USD 5.

The problem is, there is no solution. Either they raise interest rates to follow US, which will alienate all their B40 voters bank. Regardless which gov, none have shown to have any idea to improve the country's competitiveness or a vision. Best they can do is potong subsidy and introduce tax. Can't touch civil servants also as they are another voters bank.

I am moving as much money out from Malaysia as possible now. Really scared, no joke.

Thank you. Thank you.

u r enlightened!

if u read the news about RM dives, u can see the fellas are avoiding touching the crux; just beat around the bush, blame the sky or the moon.

so, u already know the continuous trajectory.

Regret didn't move more money when it was slight above RM4 like 2-3 years back.

it is very painful esp for those seniors living off savings... rm1000 becomes rm500 effectively.

the smarter/luckier ones wud have parked at least a portion in FX denominated assets at the right time.

still worth moving to sgd now? kept waiting for sgd to go down but it only gets worse.

Not waiting anymore. Even if it goes back up little bit, it will only go down eventually. Pumping more to USD, SGD and cryptos now. 10 years from now. You think RM will go back to RM4 or likely above RM5? See this country with the type of people running the gov and the type of vote banks. You think it will change for the better or worse? RM 1.5 Trillion debt now. 10 years down the road, i bet > RM2 Trillion already.

This post has been edited by CommodoreAmiga: Feb 21 2024, 10:24 AM

herein lies the problem.

if u look at history, RM has been declining like forever.

but at every point, it's natural to think it will rebound "soon".

yet, there has been no turn, ever.

so, u can figure for next 10, 20 years.

There will be minor rebound. There might be this year when US finally cut rates, but it will be very minor. Meanwhile, history has shown it never can rebound from major drop.

If 1 million ppl moving out RM 1mil each in 10 years, total RM 1 trillion, what would become of MYR?

MYR is in what is called a "secular" decline vs USD since a long time, which is a very long term trend.

However, its not a straight line decline. Common to have reversals, can be up to 10-15 percent and could last a year or two (eg 2008 to 2011).

can't deny that this is already happening for some time already. u can follow the smart money or u can "stand and fight"

short ringgit rather than long ringgit

All valid points for concern.

If got reversal, then it's time to quickly move out your RM. Eventually it will hit lower low and any reversal wont go back to previous high points.

I think many r now waiting for minor rebound to buy something incl gold. When us cut rates, unting besar la...!

Buy cryptos better than gold.