[Official Thread] Ringgit Exchange Rate - Part 2

[kitkat2]

if najib was found guilty of corruption, it's a different story

even so, how is that going to affect ringgit? less malaysian politicians are going to wash and stash in singapore, so ringgit will grow stronger against sing dollar?

 

[kurtgoh]

gone were the good 3.10

 

[dede1217]

gone were the good 3.10

Gone were the days 3.16 last year

 

[dede1217]

Now myr 2.956 ...
would it get better or worst after the elections ?

 

[dede1217]

najib sure win one. all electoral boundaries redrawn already. some places few people vote for one seat, some places many many also only vote for 1 seat. u say leh?

My intuition tells me too ...
he is trying very hard to minimize the chance of losing ...
election date also choose on Wed, so that most people need to take leave ...

 

[dede1217]

despite malaysia undergoing election, their currency is still as strong.

I still thought we will see 1 = RM3.15...

thought due to uncertainty, might see 2.97 at least ...
but instead dropped to 2.95x , compared to yesterday 2.96x

 

[kitkat2]

Gone were the days 3.16 last year

that was when oil price was around $40-50 per barrel. now it has reached $70.

 

[hwbest]

actually i think this line of argument dunno since when start one. ringgit used to be on long term downtrend regardless of oil price because of overprinting of currency. is this no longer true?

that was when oil price was around $40-50 per barrel. now it has reached $70.

 

[dede1217]

actually i think this line of argument dunno since when start one. ringgit used to be on long term downtrend regardless of oil price because of overprinting of currency. is this no longer true?

rmb few yrs back, changed quite abit, since it hit 2.5 for the first time ...
then the rate keep going 2.60+ towards 2.9+
then moving towards 3.0x ...
during that time, everyday keep alookout on the rates, like roller coaster, each day getting better ...

perhaps is since last year, then the rate cross beyond 3.10 , towards 3.16
should have changed more that time ...

 

[hwbest]

but since then malaysia the things all up price le also, and there’s the additional 6% gst too, not to mention the car drive-in tax etc etc. so 1:2.9x is the new low liaoz.

rmb few yrs back, changed quite abit, since it hit 2.5 for the first time ...
then the rate keep going 2.60+ towards 2.9+
then moving towards 3.0x ...
during that time, everyday keep alookout on the rates, like roller coaster, each day getting better ...

perhaps is since last year, then the rate cross beyond 3.10 , towards 3.16
should have changed more that time ...

 

[dede1217]

not sure how much impact would the election result affects the currency ?
if the same party wins, more or less , the currency rate should be stable as per present rite ...

 

[Carnage]

3.15 was because of the 1MDB scandal.

The truth is, ringgit will gradually devalue over time as their country grows poorer. They are largely dependent on oil as exports. Now oil price recovering that's why the economy looks better.

 

[kitkat2]

actually i think this line of argument dunno since when start one. ringgit used to be on long term downtrend regardless of oil price because of overprinting of currency. is this no longer true?

long term downtrend? so they have been continuously overprinted currency? where did you hear that from?

 

[hwbest]

it’s based on historical charts.

long term downtrend? so they have been continuously overprinted currency? where did you hear that from?

 

[kitkat2]

it’s based on historical charts.

please show us the charts on currency overprinting.

 

[MrAwesomeX]

My intuition tells me too ...
he is trying very hard to minimize the chance of losing ...
election date also choose on Wed, so that most people need to take leave ...

They also employed alot of fake accounts on facebook use templates one .

Malaysia really cannot make it too much problem even organizing elections got problems.

I predict 1:3 can last quite a long time , good for sinkees i guess.

 

[dede1217]

They also employed alot of fake accounts on facebook use templates one .

Malaysia really cannot make it too much problem even organizing elections got problems.

I predict 1:3 can last quite a long time , good for sinkees i guess.

What to do ...
Worry there might be protest after the elections ...

 

[hwarzoner]

1 = RM2.98 now online

 

[hwbest]

still far from the 3.15x we are already used to

 

[rollanddie]

1 = RM2.98 now online

1 : 3.01 now online