Can anyone enlighten me what happened for the past few minutes
According to the graph from google, in the past few minutes, ringgit suddenly appreciate against SGD and USD
1 SGD = 2.97 MYR
1 USD = 4.19 MYR
Then it return to normal now
It seems I can’t convert at that rate
Wonder what was going in

Technically error..

Just chill..

Cannot buy with that rate 😝😂

error mocking the good ol' day of MYR

don't always rely on google. use bloomberg to verify

still 4.50 and 3.20

nothing changed.

Why is it 3.38 and 4.72 now

Use Transferwise or Instarem for the correct rate. If you want a reference code to open account, please send me private message.


Don't rely on Google and Wikipedia, a lot of errors there

This post has been edited by ericthai: Sep 10 2022, 12:58 PM

Oh it is glitches
I wish I could have exchange at such rare opportunity

have to slowly wait

2050 ke arah negara maju rip

does bloomberg more accurate?

always compare google, yahoo finance, bloomberg. if bloomberg, yahoo finance say RM4.50, but google says RM4.70, which one will you trust?

you got the point. haha

It is 4.58 now

Looking at the situation...

We might be looking forward 4.80 soon 🤔🧐

why stop at 4.8?... might as well hit 5...

Slow & steady first...

The day would come hitting 5.00 level...

The question is when?
Year end, 2023 or 2024 😁

Yeah... just wondering if/when BNM gonna intervene...

Same here...

But some smart leaders says weak MYR is good for exports 😁

that is true... but our pockets will empty faster...

Maybe try pegging at 4.80

Hi all,
May I know where to ask about- selling or buying usd notes which bank offer the best rate?

SMZ, the gardens

The 3 changers beside marks & spender mid valley

No banks? I was hoping to put usd FD in Malaysia banks.

1 of the shop in midvalley got online website. can check there

It is 4.63 today
BNM need to intervene by raising interest rate quickly

Straight 75pts hike could help....

But looking at how they been...

Probably just another 25pts hike 😃

If only 25 pts
I USD to 5 MYR is very likely, almost certain

Only speculation as for now...

Hope it's bigger hike....

USD is stronger against all major currency....
So not surprised if hit 5.00 level 😁

Due to political pressure, bnm is resisting rate rise as long as possible.

MYR is on downtrend in the last 30 years, nothing has changed and down trends to persist.

This post has been edited by icemanfx: Sep 29 2022, 04:55 AM

If MYR rise too fast, our exports kantoi. Stocks will tank.

Forget about banks. You convert to USD, you lose money. When you convert back you lose money again. Go and see the spread of the USD of banks.

Whats the best method beside bank?

Crypto : buy USDT? p2p. no middle conversion rate
or money changer better?

Open sg bank acocunt.
Open Ibkr
Use fintech like Sunway money to transfer RM to SGD into sg bank account
Deposit SGD into ibkr via sg bank acocunt
Convert to usd.
Buy bins/stocks or etf. Whatever you want to buy.

I got CIMB singapore.

IBKR is this one?
https://www.interactivebrokers.com/en/home.php
sorry, not really familiar with the jargon

how about buy singapore REIT? using the same method? or use my trading stock trading account/platform?

1 sgd now 3.25 myr. argh...

ya lor.. 3.05 high.. 3.10 high.. 3.15.. wah so high
3.20.. aiyah so high wait la.. now 3.25. still waiting...

4th October up to 3.27...now drop back a bit.

3.3....3,5...3.8...is not a surprise anymore

Just convert once you have enough cash. I convert everytime I hit rm10k regardless of rate. Why? Cause long term SGD1.00=RM4.00 or USD1.00=RM5.00 incoming. So what's expensive now is cheap in the future.

This post has been edited by Ramjade: Oct 7 2022, 03:36 PM

I Transfer SGD and USD when my bonus came in at around April... look where I'm at now around 9% profit , just by siting on cash hehe

Next Friday MAS policy meeting. Standby.

You don't convert from MYR into the USD for placement into USD FCD FD. You must TT-in the USD from a foreign bank acct, place into the FCA USD FD,... and when you are ready to call it a day earning from the USD FD, TT out immediately back to the USD foreign bank acct...

NO converting in and out inside Msia.

Maybe 'double-tighten',...

Good for Msians who have assets in SGD.

Bad for SG REITs earning foreign rental income.

Hence,.........good and bad. But I think,.. net net,... good for people staying in Msia and spending in Msia earning in the SGD.

Last time I did at Hong Leong Bank, there's no such stuff about moving money to Australia and back. All done in few minutes.

But like I said not recommended as bank already eat up majority of the return via unfavorable exchange rate. Why do you think I hate banks so much?

some banks are sneaky... the high foreign fd rates are for over-the-counter placements... they 'force' you to convert from/to myr using their rates...

also some mca cannot tt in/out... can only transfer in/out own accounts within the bank... lol...

Ok bro,... your reply is more spot-on,...

I suspected something like this is happening,... we'll just have to find a local bank that allows TT-ing in for placement and TT-ing out upon uplifting. Then there will be no exchange rate effect involved.

Come to think of it,... there shld be a foreign USD current account for us to use, on top of the USD FD acct., right ?

np.

i can write you usd checks now... who gonna clear it locally here...

Clearing needs to be sent to the US bank overseas. Everybody knows this,...

It's the same with SG previously,... but today, can clear locally inside SG for USD checks. That's the advantage of an international financial hub, a good one that is,...

what to do... poor country lots of capital control n restrictions...

US checking quite easy actually... I can deposit checks using banking app to snap pictures of it... done... and I can even print my own checks with fancy designs... lol... not like here...

Mamak selling USD at RM 4.72 already. Kanasai.

MYR/SGD 3.26...lmao

3.2704 now,...

huat ahh....

Tomorrow morning you huat even more

Is it possible to directly transfer foreign currency (e.g. USD) from 1 Malaysian foreign currency account to another Malaysian foreign currency account? Or need to first TT to a foreign bank account and TT back to a Malaysian foreign currency account after that?

This post has been edited by Nom-el: Oct 13 2022, 06:56 PM

I'm a happy man, bros,... glad I selected to invest in the Singapore Dollar back in 2005. Might not go up tmrw,... there is a phenomenon called buy on rumours and sell on facts,...

Hence,... I've changed a certain amt back to the Ringgit this morning,...

Getting ready to go the The Land of The Rising Sun,....

you have to check the bank's T&C... can be very different bank to bank...

nice... my USD accumulated 2010-2014... dunno what to do now... hahaha... maybe later I join you in jpy...

gatal liao... hahaha

hope it huat until 5... but damm cpi will fly too... really bitter sweet...

From today's MAS policy statement: https://www.mas.gov.sg/news/monetary-policy...atement-14oct22



This post has been edited by TOS: Oct 14 2022, 08:07 AM

Myr sgd now at 3.30 the heck?!

These why I said high can go higher. Long term RM is on downtrend. So no need think so much. Once have money just convert.

USD 1 = RM 4.70

Just need 30sen to go...for full RM 5.00

Can we get there?

This post has been edited by danmooncake: Oct 14 2022, 11:39 AM

BNM said our fundamental still strong forever
Therefore, dun worry be happy !

never say never....


but my hope is 4.80 only..... number looks nicer and sounded more ong than 5.18

WTF!!!

SGD1=RM3.30

8888888 better than

🤤👀🍷🍿🤭

Bros,... be careful,... the moment the Feds hint at any pausing, the USD will just turn and dive down hard and fast ! Careful,....

And I think,... the SGD will weaken back too,... but I think it won't drop back too far vs the MYR...

It's a good time to chg some SGDs back to the MYR now at thie current rate, and since the Foreign-Sourced Income Tax thing has been pushed back to Jan 1st., 2027.

Edited, added : And yeah, a good time to chg some USDs back to the MYR too now. A good time to travel to The UK and Japan too today with their currencies near all-time lows.

This post has been edited by Hansel: Oct 14 2022, 12:59 PM

Hmm... you may be right. Probably time to buy some Ringgit and stock up.

When I look at the USD/MYR chart.. oh gee I've to pull back 25 years all the way when we had Asian Financial Crisis in 1997. That's USD1 = RM 4.88 is the all time high.

Now..it's just 18sen away. Will this line hold?

Something is about to blow off top again.

Yeah bro,... and especially since they have reversed their decision on the remitting back of FSI taxation for individuals. Come Jan 1st., 2027,... need to pay taxes already for whatever we exchange back to this place.

myr sitting in the middle pack... weak against usd, sgd and some... strong against eur, gbp, jpy and others...

i dunno which the major trading partners... so far DXY dips and fluctuations not really affecting usdmyr...

buy anyways... yeah some prudent approach warranted... will start buying myr and others soon...

my chart shows 7.5 sen away from all time high... I think will beat it...

If you have SGD, buy MYR.

If you have MYR, buy EUR, GBP and JPY.

The moment something (positive) happens in their jurisdictions,... the EUR, GBP and JPY will woosh up.

usd

Err,... what do you mean by the above short term, bro ?

Well,... guys,... this morning, the SGD has PULLED-BACK vs the MYR,... said earlier this pullback will happen,... then when BNM OPR Mtg takes place around Feds Mtg time in early November, IF BNM HIKES by 0.25% or more,...

SGD will pullback a bit further.

However, the pullback will be limited,... SGD WILL NOT DROP BACK TO LAST YEAR LEVELS vs the Ringgit. It will be higher highs and higher lows.

Congrats to all SGD-based investors worldwide,.. inside and outside of Malaysia, the British, Aussies, Europeans, etc,...

eh... you type...

"if you have SGD..."

"if you have MYR..."

so along these lines... I just reply usd lor... ok lah next time I type more... hahaha

Ahh,... ok,... understood.

If yuo have USD,... emm,....

First, I will chg into the currency that I need to use most at this moment. Like I'm going to Japan soon,... hence, I'll convert into the JPY.

Then subsequently, I will chg into the SGD because I believed when all this blows over, the SGD has the best chance to retain its value.

Finally,... I will apportion some into investing into US tech shares.

This post has been edited by Hansel: Oct 15 2022, 02:56 PM

1 USD = 4.7 MYR

Grats to USD savers and earners....

Sgd myr 3.32 liao laaa. Who keep converting la…

i have some usd in paypal account, should i transfer it back to bank account? checked the rate around 4.56 now...

Depends on your amount... if not much, may be better to let it stay there. The buy/sell spread and foreign exchange fees may take the benefits away.

Oh crap.. I hope the new administration coming in after the election will reverse this decision.
Otherwise, lots of paperwork may be needed just to justify foreign income that already taxed.

welp, guess time to cash out.

4.73.... darn.. King dollar still going up.

We need more people to buy more Ringgit to support this.

15 sen more will break all time high... ... go go go... Malaysia boleh... lol

edit... highest 4.8848 @ Jan 7, 1998

This post has been edited by dwRK: Oct 21 2022, 11:03 AM

5.00 incoming, more people buy more USD ada lah

This post has been edited by The.Lucas.DaY: Oct 21 2022, 11:20 AM

I think 1998 was Tun M time

Yes, it was... that time we got Asian Financial Crisis.. finance disaster around that region.

Now, it seems Ringgit getting the punishment only and we don't really have a financial crisis other than
political **ck situation.

Another sen up today to 4.74, almost like 1 sen a day.

Probably another week to go to get to 4.80 area.

Sgd myr 3.34 apa ni….

SGD/MYR is 3.35 today
Break record again

ouh dear lawd...

SGD 3.37
Break record

SGD 3.38
All time high