[Official Thread] Ringgit Exchange Rate

Status
Not open for further replies.
jtdcjtdc

jtdcjtdc

Senior Member
Joined
Apr 23, 2011
Messages
1,105
Reaction score
34
i already did mention last week that month end and raya coming hence ringgit will get stronger...
 
beanstalk6

beanstalk6

Moderator
Moderator
Joined
May 15, 2000
Messages
9,999
Reaction score
1,898
Dw8888 said:
I dont understand . Is it becauseimport increase when people shop more?
Click to expand...

Because demand on the ringgit becomes stronger when Singaporeans shop over there. Prices of goods also go up and hence more ringgit is required by consumers.
 
L

limkopilimteh

Senior Member
Joined
May 17, 2012
Messages
572
Reaction score
0
I don't think there would be any one single determining factor that affects SGD to MYR rate. Many factors such as SG/MY economy performance, monetary policies, political situation, etc would cause the rate to move.

While I am not an expert in forex market, I do not believe that Hari raya shopping by Singaporeans would cause SGD/MYR rates to move. If you say SG money changers give u lousier rate compared to official exchange rate due to Hari Raya, perhaps I can still believe as they try to fleece u due to overwhelming demand.

But seriously.. shopping for Hari Raya will cause MYR to appreciate?
 
B

beng_beng

Senior Member
Joined
Jan 15, 2005
Messages
1,056
Reaction score
557
limkopilimteh said:
I don't think there would be any one single determining factor that affects SGD to MYR rate. Many factors such as SG/MY economy performance, monetary policies, political situation, etc would cause the rate to move.

While I am not an expert in forex market, I do not believe that Hari raya shopping by Singaporeans would cause SGD/MYR rates to move. If you say SG money changers give u lousier rate compared to official exchange rate due to Hari Raya, perhaps I can still believe as they try to fleece u due to overwhelming demand.

But seriously.. shopping for Hari Raya will cause MYR to appreciate?
Click to expand...

I agree with you... but many seem to think that the "Singaporean-shopping" effect can affect ringgit strength :s13:
Sometimes I think those who think Singapore shopping can affect ringgit mistakenly compare ourselves with China and her impact on HK economy.
 
Status
Not open for further replies.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ Forums. Forum members and moderators are responsible for their own posts. Please refer to our Community Guidelines and Standards and Terms and Conditions for more information.
Top