Malaysian Ringgit rate update - Page 275

steelhorn · #**4111** 14-06-2014, 08:39 AM

Yesterday changed MYR$2.57 at People's Park Complex. With min SGD$200 hor. Went around most Ah Nehs sell at this rates. Need MYR to 'chiong' JB today. Hope traffic is not that congested. Says a prayer.

popcorn_m3 · #**4112** 14-06-2014, 11:29 AM

Yesterday change at JB 2.56

popcorn_m3 · #**4113** 14-06-2014, 11:30 AM

Quote:

Originally Posted by clean&neat

Today at Arcade, best rate 2.564
Wonder if the good old days of 2.58-2.60 is over? Will the Ringgit continue to rise?

bro, ringgit rise is due to school holiday. after that u will see it go back to normal rate eg.. 2.585

myluckyguy · #**4114** 15-06-2014, 10:46 AM

Quote:

Originally Posted by popcorn_m3

bro, ringgit rise is due to school holiday. after that u will see it go back to normal rate eg.. 2.585

Interesting observation.. we shall see

clean&neat · #**4115** 18-06-2014, 01:51 PM

Today at Arcade is 2.583

steelhorn · #**4116** 18-06-2014, 04:44 PM

Right now at People's Park Complex seeing most of the MC selling MYR$2.577.

raymondhung · #**4117** 19-06-2014, 12:40 AM

Yesterday arcade best rate 2.58531

Beretta · #**4118** 19-06-2014, 12:47 AM

Today JB Sentral - 2.51

raymondhung · #**4119** 19-06-2014, 09:25 AM

Quote:

Originally Posted by Beretta

Today JB Sentral - 2.51

Go to Merlin Tower the rate is better. If possible change in Singapore the rate is much better than in Malaysia.

p00t · #**4120** 19-06-2014, 01:07 PM

Very close to spot rate.

Quote:

Originally Posted by raymondhung

Yesterday arcade best rate 2.58531

Kalv · #**4121** 19-06-2014, 03:59 PM

Today lunchtime at City Square, Serangoon: SGD100 = RM256

Wishing all a nice day.

Cheers.

Singapore/Malaysian Ringgit Exchange Rate Chart: http://www.tititudorancea.com/lib/fx...myr_10days.png

clean&neat · #**4122** 19-06-2014, 04:02 PM

Today at Arcade was 2.580.

otamay · #**4123** 19-06-2014, 04:12 PM

Quote:

Originally Posted by clean&neat

Today at Arcade was 2.580.

Will it hit 2.60 soon?

popcorn_m3 · #**4124** 19-06-2014, 04:45 PM

rate at parkway parade today is 2.57

clean&neat · #**4125** 20-06-2014, 11:40 AM

Quote:

Originally Posted by otamay

Will it hit 2.60 soon?

Today at Arcade is 2.581. Its anyone's guess whether it will hit 2.60 anytime soon. For the record it is not due to the school holidays. All the casual spending of Singaporeans in Malaysia will not be able to shift the exchange rate. It is more the big moves by Forex traders, etc, in the billions that impact the exchange rate.

If demand for ringgit is high due to high influx of FDI and investments, then the ringgit will grow stronger. If however more businesses are moving cash out of Malaysia to Singapore, then the ringgit will fall.

The US Fed decision also has an impact. If they raise interest rates in the US then more money will flow back to the US and the ringgit will strengthen against the SGD. This is becos the Ringgit is pegged to the USD while the SGD is not.

We have been enjoying good exchange rate so far as the USD has dropped versus the SGD due to the loose monetary policies. Now that this has stopped, the question is where is the current equilibrium for the exchange rate.

Several other factors also impact this besides the USD movement. It is dependent on the Malaysia government policies. If the Malaysian government starts to accelerate cash liquidity in Malaysia to fund more public spending and get into higher debt, then the ringgit will fall regardless of the USD movement as companies and individuals abandon the ringgit.

The question now is that whether there are any sammyboy brothers out there in the banking/forex line and what do they see being predicted.

I am not sure where the ringgit is headed once GST is implemented. Be prepared that the asking price of the ML/FL will go up as their food and rental rises.

I think the ringgit may fall further but this may only happen starting one year before the next Malaysia election cycle.