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Malaysia Ringgit Exchange Rate

RadX

By RadX,
in Investment & Financial Matters

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Janling3

Janling3

6th Gear

with such exchange rate, do we say it is a blessing in disguise prior to the VEP implementation for foreign car entering JB this coming August? though it is approximately still 2 months to go.:)

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Wt_know

Wt_know

Hypersonic

then najib will tell the people ... myr plunge is a good thing ...

tourist go msia ... buy buy buy ... shop till drop

export will flourish ...

more people will invest in msia because it's cheap ...

LOL

 

with such exchange rate, do we say it is a blessing in disguise prior to the VEP implementation for foreign car entering JB this coming August? though it is approximately still 2 months to go.:)

 

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Jman888

Jman888

Moderator

then najib will tell the people ... myr plunge is a good thing ...

tourist go msia ... buy buy buy ... shop till drop

export will flourish ...

more people will invest in msia because it's cheap ...

LOL

 

 

 

Singaporean will come buy the leftover not moving properties :D

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Spring

Spring

Moderator

Despite them seemingly doing a roaring business, Singapore Money Changers may actually lose money selling MYR cos when they buy in the MYR say in the morning at 2.73 and because the rate keeps falling, they may have to sell above 2.73 when the crowd comes in so it can tough for them!!

 

Inversely, the Malaysian Money Changers are laughing all the way to the bank cos the SGD they buy appreciates by the hour so boom town for them....HUAT ah!!!!!

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Wt_know

Wt_know

Hypersonic
(edited)

don't think so la ... otherwise ... MC in singapore all close shops liao

SGD to MYR and RMB are one of the most lucrative business for many MC judging the no of msia PR & PRC FT

your never know the source of MYR and RMB that they get, the source that you can't imagine ... lol

money liquidity and financial market got many "dirty secret" ... you know what i mean ... lol

you think they make profit based on the buy and sell board rate plus little bit mark up? hehe

 

Despite them seemingly doing a roaring business, Singapore Money Changers may actually lose money selling MYR cos when they buy in the MYR say in the morning at 2.73 and because the rate keeps falling, they may have to sell above 2.73 when the crowd comes in so it can tough for them!!

 

Inversely, the Malaysian Money Changers are laughing all the way to the bank cos the SGD they buy appreciates by the hour so boom town for them....HUAT ah!!!!!

 

 

Edited by Wt_know
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Spring

Spring

Moderator

don't think so la ... otherwise ... MC in singapore all close shops liao

SGD to MYR and RMB are one of the most lucrative business for many MC judging the no of msia PR & PRC FT

your never know the source of MYR and RMB that they get, the source that you can't imagine ... lol

money liquidity and financial market got many "dirty secret" ... you know what i mean ... lol

 

 

 

 

Perhaps you are right about the bigger MCs and some trade secrets we layman are not aware of but for the smaller ones cos I know some of them personally, it can be tough and some even said they don't want to take in too much MYR for fear of not selling out fast enough as the rate keeps dropping.

 

They much prefer wholesale sales to travel agencies, companies etc who order, lock in the price and the MC can get from the supplier, this way no risk of falling rates.

 

I guess all business have their share of difficulties. The MCs in Johor are doing a roaring trade though they are prime targets of crime there! So can't win them all.

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Camrysfa

Camrysfa

Turbocharged

U turn to gold ..... maybe

 

http://www.themalaymailonline.com/malaysia/article/dr-m-says-pegging-ringgit-can-stabilise-it-but-moots-gold-standard

 

KUALA LUMPUR, June 11 — Former prime minister Tun Dr Mahathir Mohamad said pegging the ringgit again will restore public confidence in the currency, which recently hit a nine-year low against the US dollar. Dr Mahathir said this would be one way to keep the ringgit stable, but suggested that Malaysia return to the gold standard instead of fixing the local currency against the US dollar or other major currencies. -

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Kusje

Kusje

Supersonic

 

wah he really say that. hahahaha

To be fair, he is the minister of tourism so this indeed helps his portfolio. But he should have been smarter and kept his mouth shut.

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Wt_know

Wt_know

Hypersonic
(edited)

najib can say he parked 1MDB $1B in singapore is the best decision he ever made

target $1B convert to $3B ... 200% return ...

opps but the $1B is not cash .... muahahahahaha

 

May be he has parks most of his money in sg.

 

Edited by Wt_know
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