Malaysian Ringgit rate update

[Dirk Kuyt]

Originally Posted by Kalv

Today, Lunch time at Thomson Plaza: SGD100 = RM247

Lousy - see chart below. High/Expensive Rental - Thomson Area. Cheers.


Singapore/Malaysian Ringgit Exchange Rate Chart: http://www.x-convert.com/chart/SGD-MYR?period=14d

Is the exchange rate falling again?
When will be old notes be ORD?

[AtlasShrugged]

Originally Posted by dirk kuyt

is the exchange rate falling again?
When will be old notes be ord?

jb rm249.50

[Dirk Kuyt]

Originally Posted by AtlasShrugged

jb rm249.50

Luckily I changed a couple of days ago at 250.40

[asdfghjkl]

Originally Posted by eg5354

I believe in future if the US economy is down, the rate might go down to 1 is to 1.

I believe in my lifetime I would see RMB 1 = SGD 1

http://3.bp.blogspot.com/-srhZIBiOdl...PM_reserve.png

[eg5354]

Originally Posted by KatoeyLover69

Report from The New Straits Times dated 17 July 2012 :-

New Malaysian banknotes now in circulation

Normally when a country does not have enough fund to use, it will start printing money, then the value of the currency will drop.

Unless printing money is a replacement, new note replaced old note or else tomorow you will get shock to see the rate becomes S$1 = RM3.

[asdfghjkl]

A country can also print money when it has more than enough money.. below is the statistics for Singapore's total money supply reported so far.

2012 (S$M)

Jan 455,057.0
May 460,546.2
------------------------
Increase of S$5.5B YTD..

[eg5354]

Originally Posted by asdfghjkl

I believe in my lifetime I would see RMB 1 = SGD 1

http://3.bp.blogspot.com/-srhZIBiOdl...PM_reserve.png

Bro asdfghjkl,

You really have good foresight. The reserve currency status which was shown in your link actually reflects the rise of the european nation economy in the last few centuries.

Portugal - during the 15th century, they are very advance and prosperous. Melaka was their colony at that time.

Spain - during the 16th and 17th century, they are very well off and trade with many countries. Philipine was their colony at that time.

Netherlands - during the 18th century, the Dutch are very ambitious people and expanded their trade in southeast asia making them very wealthy. Indonesia was their colony at that time.

France - during the 18th and 19th century, the french economy was very powerful. Vietnam was their colony at that time. Ho chi min city with lots of french designed buildings.

Britain - during the 19th and 20th century, Britain led the industrial revolution (they started the mass production) and dominated the European and world economy. They are also the global leader in international banking, entrepreneurship, and trade at that time. Singapore, Malaysia and Hongkong were their colonies at that time.

United states - During the 20th and 21st century, the economy of the US is the world's largest. They are also the world's largest manufacturer, leader in scientific research and technology innovation. Philipines was their colony at that time.

So who's the next economy superpower ? of course you're rite, the factory of the world or the most populated country or the awaken dragon. It has recently replaced japan as the world 2nd largest economy in the world. The woman from there has also make geylang to be more lively....

Now S$1 = RMB 5

I doubt you will see RMB 1 = SGD 1 because the govt of china does not want to appreciate the RMB, afraid that money become big already later export product become difficult because nobody want to buy expensive goods.

[asdfghjkl]

Originally Posted by eg5354

I doubt you will see RMB 1 = SGD 1 because the govt of china does not want to appreciate the RMB, afraid that money become big already later export product become difficult because nobody want to buy expensive goods.

thanks for spending the time to reply. you would realize that for the above countries, when their currencies were the world reserve, the latter were strong. nobody wants a weak currency to be the reserve currency.

by the way, China imported 315 mt of Au for the first five months of 2012 alone and this is even more Au than the entire holding of the UK at 310 mt.

[KatoeyLover69]

DON'T YOU GUYS FEEL THE PINCH: The sad value of the Ringgit

Written by Lim Sue Goan

The Prime Minister has invited the public to post suggestions for the 2013 Budget to his blog and I believe that many would ask questions of personal concern. However, the best approach would be a proper financial management to help the national economy out of plight.

It is timely for Datuk Seri Najib Razak to advice officials of the Finance Ministry to properly manage the country's economy. The country is having a fiscal deficit for the 15th consecutive year, the priority should then be on striking a fiscal balance and reducing the deficit, or the debt will continue to increase and the country might end up in bankruptcy, like Greece.

Stock market record high but ringgit depreciating

The Malaysian stock market has repeatedly hit record highs, but the ringgit has been depreciating.

The strength of a country's currency reflects its economic strength and competitiveness, as the currency exchange rate fluctuations are determined by the currency's supply and demand. If everyone has no confidence and sell them, the exchange rate will fall.

For example, after world's factory China was recognised as the world's second largest economy, the yuan has been rising dramatically and it is expected to become one of the world's three major currency in five years.

The ringgit recently depreciated to record low of 2.5 against the Singapore dollar. Malaysians working in Singapore were so excited whereas local importers suffered the bitterness.

Malaysians used to spend strong ringgit in Singapore during the good old days but the situation changed. Singaporeans have now become "rich men" in Malaysia.

Net capital exporter for 5 years running

It was reported that Malaysia has become a net capital exporter for five consecutive years. In the first quarter this year, Malaysian companies had invested RM 16.9 billion abroad, an increase of nearly 15% compared to RM14.7 billion in the final quarter of last year. The outflow of capital has intensified the depreciation of the ringgit.

There are many reasons for the outflow of money. In addition to the lack of confidence, the repeatedly delayed general election, the deterioration of local investment environment and the reduction of business opportunities have all caused enterprises and businesses to invest abroad.

It is baffling that if the country's economy is really as good as described by political leaders, why aren't the funds inflowing, but outflowing? Particularly when other countries are lowering their interest rates, Bank Negara still keeps our interest rate at 3%. It might be because investors are not optimistic about Malaysia's economic outlook.

The outflow of capital will affect the Economic Transformation Programme (ETP) and thus, Najib announced the establishment of a RM1 billion Domestic Investment Strategic Fund to promote domestic direct investment. However, the tax structure is unreasonable, particularly the high corporate tax is a barrier to the efforts of attracting investment. Thailand adjusted its corporate tax from 30% to 23% this year, and 20% next year. Since we are unable to make ends meet, we are not able to cut corporate tax.

Revenue bottleneck but expenditure rising without check

The biggest shortcoming of the government's financial management is, the revenue has reached a bottleneck, while the expenditure is rising rapidly. After the fall of international crude oil prices, oil revenues will shrink. Only less than 10% of employees are currently paying income tax, but political expenditure has been increasing day by day due to the delayed general election. Therefore, the deficit is more likely to expand rather than reduce.

The country is currently facing other problems, including the global economic slowdown in which even China is unable to escape. The strange global climate is also brewing another round of food crisis.

In the month of Ramadan, the seventh lunar month and before the 2013 Budget is tabled on September 28, the market is expected to be sluggish. Let's see how Najib is going to stimulate the economy.

-Sin Chew Daily
----- KatoeyNewsNetwork

[pendragon_sg]

billions being qouted (loss or earned) nowadays are the new normal to govts and companies ... millions are small change

Originally Posted by asdfghjkl

A country can also print money when it has more than enough money.. below is the statistics for Singapore's total money supply reported so far.

2012 (S$M)

Jan 455,057.0
May 460,546.2
------------------------
Increase of S$5.5B YTD..

[pendragon_sg]

Rates in Bukit Bintang on Tuesday 11am till 10pm as seen in various outlets along Bukit Bintang area

100SGD changed to RM

241.9 - money changer (before lunch)
245.2 - hong leong bank money changer (before lunch)
both side by side

249.2 - sungei wang shopping centre (inside) money changer (after 2pm)

249.6 to 249.9 at various money changers along bukit bintang between 8.30pm to 10pm

[bolehk]

bedok, 19-jul, afternoon

> S$500........... 249.7

[ruchucky]

today chinatown 249.8

[LinxiSteven]

Originally Posted by bolehk

bedok, 19-jul, afternoon

> S$500........... 249.7

Pai Say Bro,

May I ask, Bedok where sia?

[Loveboy30]

Arcade best rate today is S$1.00 = RM 2.497