Ringgit news and places with good ringgit exchange rate

[xpeipanx]

dem it jibbyyy

[samsungXP7]

2.83 today at bukit indah

[FujiSan]

Hi

JBCC exchange rate

100 sing to 282rm.

minimum 100

[localbest]

Breaking news....

Shocking, unbelievable and uncontrollable....

The hugh drop in Malaysian ringgit today has created history again.

It has dropped to a level of more than 4 ringgit to 1 US dollar.

In terms of sing to ringgit exchange rate, it has dropped to a new record low of 288.4 today.

There are many negative issues that is affecting the ringgit:

1) China has recently devalue the yuan and this has affected the southeast asia currency.

2) United States going to raise its interest rates, which will make investors around the world move their funds to the US dollar.

3) Although the central bank of msia is trying to intervene by buying lots of ringgit and selling off US dollar, however the ringgit still does not increase in value probably because Malaysia foreign reserve has decline as reported in the news last week.

4) Drastic drop in the prices of commodities such as crude oil, palm oil and rubber also contributed to the plunge of the ringgit. Msia depend heavily on all these for its revenue.

5) Political issues & 1MDB debt.

6) Aviation disaster that has caused a hugh loss.

7) Big drop in number of tourist which affects tourism as reported by the tourism ministry

8) Msia has decided not going to peg ringgit to US dollar but instead let the ringgit float by itself which may be subjected to risk again.

Normally, a weaker currency would translate into higher inflation.

If all these issues are not resolved, the ringgit will not bounce back to its original value but instead depreciate to a level which could not be imagined...

If malaysian are spending less due to rising living costs then it will not be good for the economy.

Some malaysian businesses are affected by the implementation of 6% GST and the ringgit’s decline.

Imported materials and production costs becomes more costly end up profit margin become less.

Therefore if no effective intervention and continuous speculation of ringgit is taking place, then in no time it will break the mark of 1 is to 3. (no joke)

Remember 50 years ago, ringgit is bigger than sing dollar. 1 ringgit = 1.10 sing dollar. During that time people in msia always say want to buy cheap things, go to spore to buy.

Msia has created history for spore in 50 years ago. (A new country is formed)

Will msia create another exchange rate history for sing dollar ?????????

Think again.......

[chris91]

Changed 100 sgd for 287 today. Jb central opposite city square.

[localbest]

Below exchange rate at the following place:

Friday 14 Aug
Kranji mrt = 282.5 (before market close)
Komtar JBCC level 3 = 286.5 (before market close)

Saturday 15 Aug (market closed)
Jusco tebrau city 288

Sunday today (market closed)
Merlin tower 287

No forex trading on sat & sun

[localbest]

Internet rate closes at 292.4.

Went to people's park centre at 6pm just now, the exchange rate at the money changer was 290.10 wow...

Sources reported that China's economic slowdown over the coming years would affect Malaysia because China is Malaysia's largest trade partner.

The Chinese currency has recently devalued and this has affected the ringgit badly.

Now if msia want to stop the ringgit from further decline, it will have to adapt the following measures but not 100% guarantee can work:

1) Msia's interest rate is moderate and if it wants to attract people buying the ringgit, it should raise its interest rate higher. But this will have a negative impact on its economy.

2) Peg the ringgit to US dollar, although this will hinder economic development but at least can prevent speculation of the currency.

3) Central bank to intervene by buying more ringgit.

[norigo77]

1) Msia's interest rate is moderate and if it wants to attract people buying the ringgit, it should raise its interest rate higher. But this will have a negative impact on its economy.

2nd most likely scenario, but doing that will sink the fragile economy right into recession.

2) Peg the ringgit to US dollar, although this will hinder economic development but at least can prevent speculation of the currency.

Unlikely as the central bank has publicly denied that consideration. Likely to be used only as the last desperate resort before asking IMF for help.

3) Central bank to intervene by buying more ringgit.

Most likely scenario, as the central bank has been quietly doing so last week causing their FX reserves to sink below the critical USD100B mark.

Today, the interbank market rate has breached 2.97 per SGD1!!! Malaysia Boleh!

[samsungXP7]

2.95 at bukit indah today.predict reach 3.0 end of month

[localbest]

Originally Posted by norigo77

1) Msia's interest rate is moderate and if it wants to attract people buying the ringgit, it should raise its interest rate higher. But this will have a negative impact on its economy.

2nd most likely scenario, but doing that will sink the fragile economy right into recession.

2) Peg the ringgit to US dollar, although this will hinder economic development but at least can prevent speculation of the currency.

Unlikely as the central bank has publicly denied that consideration. Likely to be used only as the last desperate resort before asking IMF for help.

3) Central bank to intervene by buying more ringgit.

Most likely scenario, as the central bank has been quietly doing so last week causing their FX reserves to sink below the critical USD100B mark.

Today, the interbank market rate has breached 2.97 per SGD1!!! Malaysia Boleh!

Bro, thanks for your analysis.

Today sunday money changer exchange rate as follows

Kranji mrt : 290 lousy

city square bridge : 291 moderate

komtar jbcc level 3 : 293 good

[Goatslooter]

Sat at Central Money Changer 293.5

[throne]

Originally Posted by localbest

Bro, thanks for your analysis.

Today sunday money changer exchange rate as follows

Kranji mrt : 290 lousy

city square bridge : 291 moderate

komtar jbcc level 3 : 293 good

bk indah 22/08 294.50

[localbest]

Originally Posted by throne

bk indah 22/08 294.50

Thanks for sharing bro.

Today mark a new chapter in Malaysia history. The ringgit exchange rate has exceeded the 300 mark and the forex market close at about 301 ringgit to one sing dollar.

50 years ago, spore was born from msia.

50 years later, its currency value was thrice or 3 times that of msia.

And the incredible thing is that it all happen in the month of August !

[localbest]

Originally Posted by localbest

I quote an example.

If ringgit were to devalue from S$100=rm100 to S$100=rm130,

% devalue = (130-100) / 100 X 100% = 30%

This will take many years to happen.

However, if ringgit is to devalue from S$100=rm270 to S$100=rm300,

% devalue = (300-270) / 270 X 100% = 11.1%

Although both example show the same amount of ringgit devalue which is rm30.

But from rm270 to rm300, the % devalue is much lower than rm 100 to rm130.

Therefore the depreciation of the ringgit from rm270 to rm300 will be much faster to reach than the other.

My above calculation has proven finally that from rm270 to rm300, the devaluation is faster to reach due to % devalue is lower, e.g. 11.1% as compare to rm100 to rm130 which is 30%

Now to devalue from rm300 to rm330 will be even faster to reach assuming the devaluation rate remain constant.

% devalue = (330-300) / 300 X 100% = 10%

[throne]

Originally Posted by localbest

Thanks for sharing bro.

Today mark a new chapter in Malaysia history. The ringgit exchange rate has exceeded the 300 mark and the forex market close at about 301 ringgit to one sing dollar.

50 years ago, spore was born from msia.

50 years later, its currency value was thrice or 3 times that of msia.

And the incredible thing is that it all happen in the month of August !

Update lei.. 3.03, record high..