[Official Thread] Ringgit Exchange Rate

[dede1217]

my friend say today arcade 2.95

 

[hwarzoner]

my friend say today arcade 2.95

serious boh

 

[koolaid]

serious boh

may be possible. sgdmyr spot is nowat 2.968

 

[slwsglz]

my friend say today arcade 2.95

haha.. that rate 2.95 is mean buying in malaysia dollars for SGD dollars.

so the rate for changing to malaysia dollars is 2.92101

 

[AS1]

Average now is around 2.91 islandwide.

 

[GoToSea]

najib still say malaysia economy is sound. haiz... dunno how these people use their brains.

 

[estrangable]

Arcade - 2.92

 

[gohjlb]

jb Giant Exchange rate - 293. lol arcade lower than malaysia.

 

[GenerationX]

may be possible. sgdmyr spot is nowat 2.968

How to see this?

 

[GenerationX]

Any jb rate?

 

[s7460597]

jb Giant Exchange rate - 293. lol arcade lower than malaysia.

think they want to hold more foreign exchange cos rm stock losing value fast.

 

[AraiBoy]

sorry i type wrong rate earlier. looks like its almost reaching too
i put how much i pay n how much i get .. mayb should just put that. haha.

 

[ykchia]

Bedok Sheng Siong 2.92

Sent from LGE NEXUS 5 using GAGT

 

[testart]

gt customers want use rate 3.2 for all future transactions

if ur product cost 320k and let say ur product will deliver at year end right e.g December.

the customer is willing only pay sgd100k now as the news reported ringgit will drop some more by year end.

so lose abt 10k.

heard from my manager.

true meh?

 

[Shakespeare]

4th Nov 2009 --> $2.49
21th Aug 2015 --> $2.98

Decrease of almost 20%.... and more to come...

 

[koolaid]

gt customers want use rate 3.2 for all future transactions

if ur product cost 320k and let say ur product will deliver at year end right e.g December.

the customer is willing only pay sgd100k now as the news reported ringgit will drop some more by year end.

so lose abt 10k.

heard from my manager.

true meh?

I believe only certain banks may be able to do as they need to deliver myr. no harm speaking to them and to find out more. I believe they can structure some kinda call options for this.

 

[koolaid]

I believe only certain banks may be able to do as they need to deliver myr. no harm speaking to them and to find out more. I believe they can structure some kinda call options for this.

any corp bankers here to advice further?

 

[gasband]

gt customers want use rate 3.2 for all future transactions

if ur product cost 320k and let say ur product will deliver at year end right e.g December.

the customer is willing only pay sgd100k now as the news reported ringgit will drop some more by year end.

so lose abt 10k.

heard from my manager.

true meh?

This is basically hedging for future. We buy on certain contracts at a fixed price and quantity that both seller and buyer agrees on. Of course for example, at current rate of 1:2.9, I am only willing to buy one month's worth but if we agree on hedging at 1:3.2, I may commit 3 or 6 months worth or orders at that rate and agree on a contract. The advantage is that seller gets a firm contract at a fixed average rate and buyer buys at a fixed rate and this is usually advantageous to both parties when currencies become too volatile and businesses want visibility of costs. Of course it can backfire very badly for either side if the fluctuation swings either way much much more than they hedge for.

 

[Zitrone]

not good for Singapore SMEs unless we are selling a unique product which has an inelastic demand and Malaysia cannot find an alternative supplier.

Gosh.....we are selling them treated water in RM.......

For consumers like us, it is bad to hoard RM because we are always the last to know what is to come. The speculators will make a move first to control the market.

It seems the RM will continue to move in the direction of oil price.

 

[Hisashiburi]

1yr chart of sgd to myr.
2.52 to 2.96 in one year!