[Official Thread] Ringgit Exchange Rate

[Hoo8899]

True enuf that official rate is close to 2.5, but everyone are giving a lousy rate around 2.45 or less, basically this is call price-fixing right? Can sue the $$ changers with the Singapore Competition Laws?

 

[thomastan86]

Hi,

Anyone found any better rate than 2.43?

 

[BobyC24]

I'm afraid its going to be hard...

 

[lawmah]

Hi Everyone,

Anyone manage to change today?
Need some RM during CNY in Genting!!!

Pls update

Thanks a lot...

 

[BobyC24]

2.4231 is the best you can find on get4x.com, it will be hard to have better rates before CNY I think...

 

[SBS2716G]

True enuf that official rate is close to 2.5, but everyone are giving a lousy rate around 2.45 or less, basically this is call price-fixing right? Can sue the $$ changers with the Singapore Competition Laws?

Demand is high so rates is low. They got price fix? They can tell u that their rates is s$1 to rm2.44567890. Then another one is 2.446578. Where got price fix. When they all sell high u never go comPlain they price fixed also?

 

[LIN_JOEL]

Today saw Chinatown 2.42 only...

 

[msw8908]

Interbank rate is at 2.5 today while money changer rate is below 2.44, time to swipe that card or withdraw cash from ATM in Malaysia.

 

[cheong79]

Interbank rate is at 2.5 today while money changer rate is below 2.44, time to swipe that card or withdraw cash from ATM in Malaysia.

use overseas bank admin charge S$5 per withdrawal.

that time forex 2.5 rate local bank rate was 2.452

 

[msw8908]

I use CIMB card and there is no ATM withdrawal fee in Malaysia. The difference between interbank rate and interchange rate (for credit card) is usually not more than 500 pips, so it may be better to swipe your card this time round.

 

[msw8908]

Malaysia going into election soon, so RM should weaken further, if can wait, rates should also move closer to interbank rate after CNY.

 

[pvchew]

MBB online remittance at 2.479 with $15 flat fee.

 

[bornfree]

I use CIMB card and there is no ATM withdrawal fee in Malaysia. The difference between interbank rate and interchange rate (for credit card) is usually not more than 500 pips, so it may be better to swipe your card this time round.

Do you withdraw fund from your Current & Savings Accounts or get cash advance from your credit card?

 

[msw8908]

I usually withdraw from my current account but the FX rate is not as good as those at Arcade, it should be at this time of the year. I am exploring opening a RM account in Malaysia, free and immediate transfer, rates should not be more than 200 pips away from Interbank rate and they pay interest rate of more than 2% pa.

Welcome to CIMB Internet Banking

 

[jq75]

Ringgit at five-month low on anxieties over upcoming general election

KUALA LUMPUR (REUTERS) - The Malaysian ringgit fell to a near five-month low, heading for its worst month in eight months as anxieties rose over an upcoming general election.

The ringgit hit 3.1140 per US dollar, its weakest since Sept 7 last year. It weakened past chart support at 3.0922, a 200-day moving average.

"The ringgit will be affected by election talk next month too," said a Malaysian bank dealer, adding the ringgit could see 3.1300. The polls must be called by end-April.

Datuk Seri Najib must dissolve Parliament by April 28 and is aiming to restore a two-thirds majority ceded in 2008. His approval rating dropped to the lowest level in 16 months in December, according to the Merdeka Centre for Opinion Research.

 

[cheong79]

I use CIMB card and there is no ATM withdrawal fee in Malaysia. The difference between interbank rate and interchange rate (for credit card) is usually not more than 500 pips, so it may be better to swipe your card this time round.

how much to maintain per mth in saving account for CIMB? open account mini how much?

 

[msw8908]

how much to maintain per mth in saving account for CIMB? open account mini how much?

Singapore or Malaysia?

In Singapore, CIMB has this Starsaver account, it is a current account, paying 0.8% pa, probably the best rate in town for such saving cum checking accounts. Minimum deposit is 5k. The saving account however requires only 1k deposit, I am not sure what is the interest rate they pay on saving account, you can probably google for it.

 

[cheong79]

Singapore or Malaysia?

In Singapore, CIMB has this Starsaver account, it is a current account, paying 0.8% pa, probably the best rate in town for such saving cum checking accounts. Minimum deposit is 5k. The saving account however requires only 1k deposit, I am not sure what is the interest rate they pay on saving account, you can probably google for it.

thanks brother for the info.

i mean cimb sg branch. i heard there are restriction on foreigner open saving account in msia.

 

[msw8908]

Duplicate post. Deleted.

 

[msw8908]

thanks brother for the info.

i mean cimb sg branch. i heard there are restriction on foreigner open saving account in msia.

In fact my relationship manager is processing the paper now, so I believe it is possible.