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silver_bird
04-10-2008, 09:41 PM
Forex @ 3 Oct 2008

AUD = RM 2.68
NZD = RM 2.29
GBP = RM 6.15
EUR = RM 4.78
USD = RM 3.47
CAD = RM 3.20
SGD = RM 2.39
CNY = RM 0.50
JPY = RM 0.03

http://finance.yahoo.com/currency/convert?amt=1&from=AUD&to=MYR&submit=Convert

Is our Ringgit getting stronger or weaker ?

kensu
04-10-2008, 10:52 PM
Thanks Silver Bird
Great link as it shows the 12 months history..

Well it depends which affects you most.
If your child is is Australia or UK, the rates are at the lowest..
Yet the US Dollars is going back higher...

I suppose it is advisable to have a foreign currency account to take the position. :)

And hope for the best.

cheers

silver_bird
08-10-2008, 09:19 AM
Forex @ 7 Oct 2008

AUD = RM 2.48
NZD = RM 2.18
GBP = RM 6.11
EUR = RM 4.75
USD = RM 3.49
CAD = RM 3.16
SGD = RM 2.38
CNY = RM 0.51
JPY = RM 0.03

http://finance.yahoo.com/currency/convert?amt=1&from=AUD&to=MYR&submit=Convert

How low can it go ?
Anyone invested in Forex since 2007 ?

wyshin88
08-10-2008, 10:16 AM
[QUOTE=silver_bird]Forex @ 7 Oct 2008

AUD = RM 2.48
NZD = RM 2.18
GBP = RM 6.11
EUR = RM 4.75
USD = RM 3.49
CAD = RM 3.16
SGD = RM 2.38
CNY = RM 0.51
JPY = RM 0.03

Wow :eek: Aud $ so low only meh? I went there in Aug and I exchanged it for RM3.00 almost......damn!

lbn
08-10-2008, 10:29 AM
Any hints on the trend of the Aussie money? :confused:

Active Koala
08-10-2008, 12:37 PM
Good lah. RM is stronger against most currencies except USD. RM has been undervalues for many months. This is now more realistic.

wyshin88
08-10-2008, 01:51 PM
Good lah. RM is stronger against most currencies except USD. RM has been undervalues for many months. This is now more realistic.

Yes, you are right!! Is time for Ringgit to fight back!!

kwchang
08-10-2008, 02:04 PM
I was just wondering why the RM is going up against other currencies - is it because the others are tumbling or is it because the USD is rising (RM has a lot of USD in its basket of currencies).

It is all relativity. If we are not going up, it is because others are coming down

silver_bird
08-10-2008, 02:11 PM
It's time to earn in USD as Ringgit weakens further :-
http://www.jaxons.org/2008/09/05/ringgit-to-weaken-further-says-think-tank/

silver_bird
08-10-2008, 03:53 PM
Aussie Dollar crash to a 5-year low :-
http://business.smh.com.au/business/australian-dollar-caves-in-20081008-4w23.html

bslee
08-10-2008, 05:24 PM
Did you all realize that the price of say US imports (maybe others) have gone up in price to offset their losses due to their weakened currency?. So it doesn't neccessarily mean our currency is stronger, goods are cheaper. It doesn't really work that way.

USJ27Resident
09-10-2008, 12:24 AM
Aussie Dollar crash to a 5-year low :-
http://business.smh.com.au/business/australian-dollar-caves-in-20081008-4w23.html

Can somebody tell me where to get AUDs in real exchange rates... the moneychangers are still scalping the public with their "own" rates... :mad: Currently even the moneychangers [CIMB/RHB/MAYBANK] at KLIA is still selling the AUD at above RM2.80 to the Aussie dollar...

Then again... I guess the fellas cannot sell their AUD at the actual rates cos they'd lose a truckload in forex... :rolleyes: Seems we Malaysians are screwed so many times... when prices are to go up... it happens IMMEDIATELY, but when they are suppose to come down... we WAIT like idiots for it to come down!! :mad:

blurrman
09-10-2008, 01:31 AM
usj27,

cash rate and tt rate is different...usually cash rate will be very much higher than the tt rate.

USJ27Resident
09-10-2008, 02:34 AM
usj27,

cash rate and tt rate is different...usually cash rate will be very much higher than the tt rate.

yea... thats what the moneychangers say... :rolleyes:

but when the rates shoots through the roof... how come the cash rate and the TT rate [selling] goes up in tandem! :rolleyes:

Weezy
09-10-2008, 07:41 AM
the money changers are now telling ppl no stock for aud. :mad:

USJ27Resident
09-10-2008, 10:55 AM
the money changers are now telling ppl no stock for aud. :mad:

Not no stock... its more like, stock NOT for sale... but they would gladly buy from you at ridiculously low rates... like 2.45 !!! :rolleyes: :mad:

silver_bird
09-10-2008, 11:20 AM
X'change @ USJ Summit City ( 9 Oct )
1 Aussie = RM 2.55 (S) / RM 2.65 (B)

Forex : 1 Aussie = RM 2.40
http://finance.yahoo.com/currency/convert?amt=1&from=AUD&to=MYR&submit=Convert

robertec
09-10-2008, 11:20 AM
Most imported goods are going to cost more & more.

I made some USD T/T transfers in
May 2008 @ RM3.170
Oct 2008 @ RM3.545

Thats a difference of 11.83%

Well our exporters are singing their way to the Bank.
=
=
=
=

silver_bird
09-10-2008, 01:46 PM
Bank Negara Foreign Exchange Rates
http://www.bnm.gov.my/statistics/exchangerates.php

layman
09-10-2008, 03:47 PM
Any hints on the trend of the Aussie money? :confused:


A$ is expected to decline to 0.55 to the dollar as the next resistant level

irisbaggins
09-10-2008, 04:07 PM
Sounds like a good time to get some Aussie Dollar

rachel sj
09-10-2008, 04:18 PM
Sounds like a good time to get some Aussie Dollar

i bought some $A yesterday at rate of RM2.48...will buy more in tranches if it goes lower & lower...

Active Koala
09-10-2008, 05:02 PM
My own predictions:

USD will stay around this rate vs RM; but will strengthen somewhat against Euro/Pound.
AUD will go lower to between RM 2.2-2.4 due to expectation of further rate cuts.
SGD expect to further strengthen albeit slowly over next 6 months.
As for NZD, it should go softer. But is anyone buying NZD?

USJ27Resident
09-10-2008, 05:56 PM
My own predictions:

As for NZD, it should go softer. But is anyone buying NZD?

My brother in law is migrating to NZ in 2 months time... Guess NZD 100K is gonna cost less for him now... which would be a pleasant suprise for him now... :)


i bought some $A yesterday at rate of RM2.48...will buy more in tranches if it goes lower & lower...

Where did you buy your AUDs? Do tell...

rachel sj
09-10-2008, 06:11 PM
Where did you buy your AUDs? Do tell...

I made forex placement with RBS...its selling margin is lower compare to cimb, maybank or rhb. PBB is not bad too but they dont allow you to withdraw/remit out in aussie but must covert into RM first...so less attractive.

Just found out today that citigold forex placment is giving highest interest rate - around 8% p.a. for the 1st month and thereafter, around 6% plus p.a.

if you hv more infos and investment tips, pls enlighten me too...

Ditto
09-10-2008, 06:26 PM
aiyo a check on Aussie today almost get me fainted..it's almost equal to S$ now....ohh my superannuation there is becoming less than my EPF

Active Koala
09-10-2008, 07:08 PM
I made forex placement with RBS...

if you hv more infos and investment tips, pls enlighten me too...

Rach, you are really brave. RBS is under heavy debt and nearly folded if not for the recent injection by the British Government. Not sure if they go under, will your money there be insured? Just be very very weary......

USJ27Resident
10-10-2008, 12:10 AM
Currency Notes
Moneychanger Sell Buy

1 Australian Dollar 2.7260 2.2760
1 Singapore Dollar 2.4320 2.3310

Looks like the AUD is now worth less than the SIN dollar... if you're selling, but if you're buying - its a different picture... :rolleyes: Now why is that???

blurrman
10-10-2008, 12:55 AM
if u want to compare daily interbank rates for AUD, u can look at this
http://www.trackko.com/audmyr.html

USJ27Resident
10-10-2008, 01:10 AM
if u want to compare daily interbank rates for AUD, u can look at this
http://www.trackko.com/audmyr.html


woww... can anyone point me to the nearest EON bank that has AUD notes :p

rachel sj
10-10-2008, 10:02 AM
Rach, you are really brave. RBS is under heavy debt and nearly folded if not for the recent injection by the British Government. Not sure if they go under, will your money there be insured? Just be very very weary......

ya thks, am aware of the building-up tension on RBS at overseas...not that i m a heavy investors...

coogee
10-10-2008, 11:42 AM
woww... can anyone point me to the nearest EON bank that has AUD notes :p

Hi mate...looks like you are really desperate for A$...why don't you buy/book it thru any bank forex (they will entertain you if at least RM50K but you better have a good story to tell Bank Negara..) and TT out? Don't have an overseas account (all your trips and not one swiss type a/c?)? No worries mate, TT it to mine and I hand it to you on your next flight down under.... or next TT session, no not tonight lah.

On the serious side, more interest rates reduction are in sight for aussie but whether it impact the battling aussie is questionable since most are of the opinion it is beaten too far down based on current situation. However, news are already out that Australia biggest export customers, China steel mills are slowing output and that will put squeeze to the high iron ore and coal prices for next year. If the drop is steep coupled with falling rates, more downside for A$ since it is very much a commodity currency. What interesting times we are leaving in!

layman
10-10-2008, 11:43 AM
Rach, you are really brave. RBS is under heavy debt and nearly folded if not for the recent injection by the British Government. Not sure if they go under, will your money there be insured? Just be very very weary......

well,the british government has instituted the biggest bailout of UK banks in the history of mankind.

they are setting up an institution not unlike danaharta to mop up all the bad and 'poisoned' debts of banks in UK

silver_bird
10-10-2008, 11:51 AM
GBP = RM 5.97

http://finance.yahoo.com/currency/convert?amt=1&from=GBP&to=MYR&submit=Convert

If your child is studying in UK :-) :-) :-)

USJ27Resident
10-10-2008, 01:00 PM
GBP = RM 5.97

http://finance.yahoo.com/currency/convert?amt=1&from=GBP&to=MYR&submit=Convert

If your child is studying in UK :-) :-) :-)

:mad: And the freaking mamak moneychangers are still selling them at high rates... :mad: :mad:

Officially the BNM rates states that the Aussie dollar is at 2.39 (selling) and 2.28 (buying) but the moneychangers are selling AUD at 2.62 and buying at 2.21 ... freaking ripoffs !!!

Even the Maybank moneychanger in SS15 is in cahoots... they sell at 2.70 :mad: which makes that a 39 ringgit profit for every A$100... Now imagine if you need to pay your supplier A$10,000 [ you'd lose RM3,900! just like that!!! ]

USJ27Resident
10-10-2008, 01:22 PM
Hi mate...looks like you are really desperate for A$...

On the serious side, more interest rates reduction are in sight for aussie but whether it impact the battling aussie is questionable since most are of the opinion it is beaten too far down based on current situation. However, news are already out that Australia biggest export customers, China steel mills are slowing output and that will put squeeze to the high iron ore and coal prices for next year. If the drop is steep coupled with falling rates, more downside for A$ since it is very much a commodity currency. What interesting times we are leaving in!

Desperate.... no... urgent... yes...

As to your commodity currency... err... I've read the Western Australian on the 8th Oct. and the WA Govt is smiling... cos it seems that all those mining exports are contracted in US$ and at the current exchange rates, they are looking at a windfall of something like A$500million

On a lighter note, my buddies in Perth are fuming like crazy... :D coz' now their A$ is gonna get less RM for them to spend on their upcoming Malaysian holiday!!! :p

coogee
10-10-2008, 02:52 PM
Desperate.... no... urgent... yes...

As to your commodity currency... err... I've read the Western Australian on the 8th Oct. and the WA Govt is smiling... cos it seems that all those mining exports are contracted in US$ and at the current exchange rates, they are looking at a windfall of something like A$500million

On a lighter note, my buddies in Perth are fuming like crazy... :D coz' now their A$ is gonna get less RM for them to spend on their upcoming Malaysian holiday!!! :p

That's the reason why the aussie gov is still confident Australian economy will be able to ride it out provided this global financial carnage get some respite in the short term. The contracts are negotiated annually from around April starting with the Brazilian Vale mine with the Chinese and Japs buyers so it ll still have some time on hand for BHP/Rio Tinto to pull in top dollars to starve off the drop in earnings until next financial year. It appears the spot market is already down so all indication is for a softer commodity pricing, the question is how low by next year.

Ya, at the current rate, the aussie is really a 'steal' but with the current situation noboby knows what's the bottom. The last time I had a better rate than now was in year 2000 when I got around RM2 to A$1. You can imagine how it felt like when it got past RM3 to A$1.....well I suppose what goes up must come down.

lly
10-10-2008, 03:12 PM
I think ING is now selling a capital protected fund for fixed deposit in AUD. Apparently the interest rate is 5% guaranteed with more if all goes well. Don't have all the details yet as the agent is supposed to meet us next week. Any one any comments?

Weezy
10-10-2008, 03:25 PM
dats why i havent bought any auds from the money changers yet.

USJ27Resident
10-10-2008, 04:04 PM
Hi all... Just collected AUD5000. from HSBC :) in travellers cheques!

According to the bank, I get to change it for cash, fee-free/commission free in SYDNEY....

Anyway, fyi the x-change rates was 2.35 which is better than what the freaking moneychangers was asking... :mad: [2.63!] in cash terms, I would have lost RM1,400!

Scalpers!! :mad:

USJ27Resident
10-10-2008, 05:23 PM
Looks like the AUD is now worth less than the SIN dollar... if you're selling, but if you're buying - its a different picture... :rolleyes: Now why is that???

Officially the SIN dollar is now stronger than the AUD... :confused:

coogee
10-10-2008, 05:29 PM
Hi all... Just collected AUD5000. from HSBC :) in travellers cheques!

According to the bank, I get to change it for cash, fee-free/commission free in SYDNEY....

Anyway, fyi the x-change rates was 2.35 which is better than what the freaking moneychangers was asking... :mad: [2.63!] in cash terms, I would have lost RM1,400!

Scalpers!! :mad:

Good good....welcome to down under with the loot. Looks like you planning to have a big party. I better get dressed proper! He he he.

Weezy
10-10-2008, 05:50 PM
Hi all... Just collected AUD5000. from HSBC :) in travellers cheques!

According to the bank, I get to change it for cash, fee-free/commission free in SYDNEY....

Anyway, fyi the x-change rates was 2.35 which is better than what the freaking moneychangers was asking... :mad: [2.63!] in cash terms, I would have lost RM1,400!

Scalpers!! :mad:

is there an expiry date for the travellers cheque?

USJ27Resident
10-10-2008, 05:59 PM
is there an expiry date for the travellers cheque?

Just checked - NO EXPIRY !! :)


Good good....welcome to down under with the loot. Looks like you planning to have a big party. I better get dressed proper! He he he.

No party la... was in SYD the other day, and found out that there were damn good offers on DSLR lens and equipment. UV Filters was like AUD10 [Current rates even better!] Remember a Tokina 12-24 was like AUD499. And with the current rates... ehemmm... think I will go on a shopping spree...

A D90 is only AUD1799 [x2.39= RM4299] KL is selling for 4799 cash/4999 c/card! A D60 with TWIN VR lens is only A$899! You do the maths! Anyone wanna get cameras... I'll be back next Friday!! :D

coogee
10-10-2008, 06:19 PM
Just checked - NO EXPIRY !! :)



No party la... was in SYD the other day, and found out that there were damn good offers on DSLR lens and equipment. UV Filters was like AUD10 [Current rates even better!] Remember a Tokina 12-24 was like AUD499. And with the current rates... ehemmm... think I will go on a shopping spree...

A D90 is only AUD1799 [x2.39= RM4299] KL is selling for 4799 cash/4999 c/card! A D60 with TWIN VR lens is only A$899! You do the maths! Anyone wanna get cameras... I'll be back next Friday!! :D

Hey mate, me being camera blur, all sounds greek to me....but I ll go shopping with you....and yes, with he aussie this low and new imports prices will shooting up soon....am at a dilemma whether to replace my TV to a 46inch LCD (Samsung Series 6) going at around A$2700 including wall bracket. But then with the talk of recession coming......

USJ27Resident
10-10-2008, 08:18 PM
and yes, with the aussie this low and new imports prices will shooting up soon....

better get your stuff at the old prices... before the merchants start scalping you too.. :eek: :p

silver_bird
12-10-2008, 09:03 AM
Forex @ 10 Oct 2008
USD = RM 3.51
AUD = RM 2.33
NZD = RM 2.08
GBP = RM 5.99
EUR = RM 4.77
SGD = RM 2.37
CNY = RM 0.51

http://www.bnm.gov.my/statistics/exchangerates.php

Nikki 2
13-10-2008, 10:01 AM
To all the financial sifus/wizards here...

SO IS THIS THE RIGHT TIME TO `BUY` MORE AUD $$$ OR wait for it to drop somemore??? :confused:

Err..am not talking about from the money changers...more like FCY accts in financial institutions....

Thanks... :o

USJ27Resident
14-10-2008, 12:37 PM
To all the financial sifus/wizards here...

SO IS THIS THE RIGHT TIME TO `BUY` MORE AUD $$$ OR wait for it to drop somemore??? :confused:

Looks like the Reserve Bank of Australia is intervening to stem the drop and it has seen a 10 sen increase in selling rates in 48hrs! Time to buy more... :)

Had changed my travellers cheques in Sydney... ZERO fees and commisions, so effectively I only paid 2.37 for my AUD last Friday! :) Today it is at 2.47 *happy as a toad in rain!!*

Nikki 2
14-10-2008, 06:26 PM
Think it will drop some more lah... :o

silver_bird
14-10-2008, 08:17 PM
Forex @ 10 Oct 2008
USD = RM 3.51
AUD = RM 2.33
NZD = RM 2.08
GBP = RM 5.99
EUR = RM 4.77
SGD = RM 2.37
CNY = RM 0.51

http://www.bnm.gov.my/statistics/exchangerates.php

Forex @ 14 Oct 2008
USD = RM 3.49
AUD = RM 2.51
NZD = RM 2.20
GBP = RM 6.14
EUR = RM 4.79
SGD = RM 2.39
CNY = RM 0.51

http://finance.yahoo.com/currency/convert?amt=1&from=AUD&to=MYR&submit=Convert

USJ27Resident
15-10-2008, 12:57 PM
Think it will drop some more lah... :o

Probably would, if some squirrel starts gnawing away at the Reserve Bank of Australia's huge surplus from the boom years... :p

I wouldn't hold my breath though... if it involves small amounts....

But if it was for BIG amounts... better start hedging... :)

gtl
15-10-2008, 02:03 PM
Aussie Dollar big drop, slightly less then Singapore Dollar...........that's really low.
Singapore money changer ran out of aussie dollar stocks.

silver_bird
17-10-2008, 09:52 AM
Malaysia and Singapore to guarantee all bank deposits

Your bank deposits (including Bank Rakyat) is 100% guaranteed by our Govt.
No more capped to RM60k as per PIDM's rule.

http://thestar.com.my/news/story.asp?file=/2008/10/17/nation/2305405&sec=nation

Cheers !!!

USJ27Resident
17-10-2008, 03:26 PM
Singapore money changer ran out of aussie dollar stocks.

not ran out... traders don't wanna sell to the moneychangers the traders are still holding old stocks bought at higher rates!!! :rolleyes:

if you really need AUD dollars...get em at the banks via travellers cheques :p only thing is, when you get to australia, you would have to change em at the travellers cheques issuing offices - ie. American Express counter or at the Thomas Cook counters... they change it for you for "zero fee" or else 'kena' commision charges....

layman
17-10-2008, 04:10 PM
i think when u buy traveller's cheque from banks,they levy a 1% charge to the amount purchase.they may/may not charge you additional commision on converting paper to cash

orchipalar
18-10-2008, 07:58 AM
Err buddies...the RM fairs poorer against Thai Baht...USD n Japanese Yen!

RM1 to Baht9.6 or so...(Err...maybe buddy Tupai can offer Orchi better?)
RM100 to JPY2,800 or so...
USD1 to RM3.56 or so...!(terrible!...the Vintage Rolex is going to cost more!)

...at the money changers.

USJ27Resident
18-10-2008, 08:08 AM
i think when u buy traveller's cheque from banks,they levy a 1% charge to the amount purchase.they may/may not charge you additional commision on converting paper to cash

still better than getting from the mamak moneychangers... :rolleyes:

great
18-10-2008, 11:05 AM
Now Chinese RMB is much more value

layman
18-10-2008, 12:27 PM
Now Chinese RMB is much more value

not anymore,the chinese government has surreptitiously embark on a policy of containing the continued appreciation against US dollars

it has fallen 14-15 points in the last 2 weeks

USJ27Resident
18-10-2008, 03:09 PM
not anymore,the chinese government has surreptitiously embark on a policy of containing the continued appreciation against US dollars..

Chinese renminbi (yuan)

CNY/RM exchange rates
BUY 0.5159 [1.9366]
SELL 0.5164 [1.9384]

It is still higher than the usual 0.4700 :(

Moneychangers are still making a killing at 0.5450, as nobody goes to China with only RMB100.

great
18-10-2008, 06:38 PM
Chinese renminbi (yuan)

CNY/RM exchange rates
BUY 0.5159 [1.9366]
SELL 0.5164 [1.9384]

It is still higher than the usual 0.4700 :(

Moneychangers are still making a killing at 0.5450, as nobody goes to China with only RMB100.


During Chinese New Year,it's only 0.44

now is over 0.518

birdy
18-10-2008, 07:59 PM
So, Malaysia ringgit has been devalued?

orchipalar
18-10-2008, 08:11 PM
Err buddies...about the same time last year...
the Icelandic Kronur vs. USD...was about 65 : 1...

Now the Icelandic Kronur is worth MUCH MUCH less vs. USD...at...115 : 1...!!! :confused:

USJ27Resident
19-10-2008, 10:39 AM
So, Malaysia ringgit has been devalued?

dunno :confused: ... but compared to currencies that has fallen against the USD... our ringgit has jumped considerably... where the USD has skidded against... our ringgit loses... but overall, only the Yuan and the Yen seems to have appreciated against the RM considerably whereas the Rupiah, the Rupee, the Taiwan Dollar etc etc is still about the same.

As for the AUD and NZD - I'm grinning and hoarding. :D

fyi, Even the Pound and the Euro has come down by 10-15% :)

thanks to an earlier posting: I can keep track here (http://www.bnm.gov.my/statistics/exchangerates.php) ...

coogee
20-10-2008, 08:55 AM
dunno :confused: ... but compared to currencies that has fallen against the USD... our ringgit has jumped considerably... where the USD has skidded against... our ringgit loses... but overall, only the Yuan and the Yen seems to have appreciated against the RM considerably whereas the Rupiah, the Rupee, the Taiwan Dollar etc etc is still about the same.

As for the AUD and NZD - I'm grinning and hoarding. :D

fyi, Even the Pound and the Euro has come down by 10-15% :)

thanks to an earlier posting: I can keep track here (http://www.bnm.gov.my/statistics/exchangerates.php) ...

You might not be grinning too much if Commonweath Bank forecast is right....http://business.smh.com.au/business/aussies-plunge-far-from-over-20081020-548x.html :p

USJ27Resident
20-10-2008, 10:38 AM
http://business.smh.com.au/business/aussies-plunge-far-from-over-20081020-548x.html :p

It is to hold and I can hold... :)


Banks including Commonwealth Bank and Westpac had forecast in May that the Aussie dollar would reach parity versus the US dollar, carried higher by a global commodity boom this year

Them banks only know how to forecast but got smacked in the face... now saying the exact opposite pulak... :rolleyes: :p

USJ27Resident
23-10-2008, 12:26 AM
well... the AUD is going DOWN UNDER again... :D

layman
23-10-2008, 10:17 AM
well... the AUD is going DOWN UNDER again... :D

not so quick yet.
the ringgit has also weakened from 3.2 to 3.5

USJ27Resident
23-10-2008, 11:49 AM
AUD melting again... Opening at 2.36 !!

I guess with the economic downturn - those that have their kids studying in Australia is breathing a sigh of (abeit temporary?) relief...

Been keeping a watch on this AUD and seems its decline is based on the fall in demand for raw commodities that Australia exports. Once that demand goes up... guess the AUD oso would follow...

layman
23-10-2008, 11:56 AM
AUD melting again... Opening at 2.36 !!

I guess with the economic downturn - those that have their kids studying in Australia is breathing a sigh of (abeit temporary?) relief...

Been keeping a watch on this AUD and seems its decline is based on the fall in demand for raw commodities that Australia exports. Once that demand goes up... guess the AUD oso would follow...


with a looming global recession,demand for commodities is going to be flat or decline further for at least next year where the majority of the west is expected to slide into a recession if not already in one

the strength of the currency is not only a reflection of the overall directon of the country's economy,it is also subjected to economic policy of central bankers ie interest rates .one of the reasons for the strong A $ in the last two years was the high interest rates 5-6%(same with UK)vis a vis us rates of a paltry 2%

coogee
24-10-2008, 08:29 PM
The A$ just went through the hole.....about RM2.20 now. USJ27 Resident what you waiting for....

USJ27Resident
24-10-2008, 10:16 PM
The A$ just went through the hole.....about RM2.20 now. USJ27 Resident what you waiting for....

:D :D :D we live in interesting times... at this rate... would the AUD be lower than the RM ??? :eek: I'll be damned, if that happens!!!

I also know a truckload of Malaysian fellas that bought their properties in Perth who is now tugging their hair out of their sockets... cos' they have just lost like 30% of their property values in currency exchange alone!!!

kwchang
24-10-2008, 10:43 PM
..I also know a truckload of Malaysian fellas that bought their properties in Perth who is now tugging their hair out of their sockets... cos' they have just lost like 30% of their property values in currency exchange alone!!!
Just because you are a friend, I'd like to make a correction of your choice of word - hairs don't grow from "sockets" - the correct biological term is follicle. Peace :)

Anyway, no property actually "lost value" - because they aren't up for sale yet are they? So long as the property is in use or earning rental, there is no loss really. The real complain should be to moan about how much they would have saved in Ringgit if they bought it today.

Then again, hind-sight is always clearer than fore-sight.

totoro
24-10-2008, 11:29 PM
with the exchange rates so rocky, can i ask if it's a good idea to invest in foreign currency fixed deposits? i see ads from PBB for example... pretty high interest rates for Australia or NZ deposits...

USJ27Resident
25-10-2008, 12:34 AM
Just because you are a friend, I'd like to make a correction of your choice of word - hairs don't grow from "sockets" - the correct biological term is follicle. Peace :)

Then again, hind-sight is always clearer than fore-sight.

Aiyahhh... that is why I no work for Svenson Hair Centre... :p After fill the wrong socket... die-lorr... !! :D

Fore-sight... I have a joke on that but I ain't going there.... [allergic to bananas!] :D

Far as I am concerned... thanks to the malaysian govt policies and inept measures... this AUD/RM decline is definately not gonna last for long... them Aussie with Kevin RUUD at the helm might just do a fair dinkum move and UP goes the AUD !!

coogee
27-10-2008, 10:43 AM
Aussie dollar get walloped....it's now down 37% and 47% against the US$ and Yen respectively from it's all time high 3 months ago (against the Yen, it is at a all time low since after World War 2!) but some actually sees it as a positive for the economy in helping to cushion it's exports and pull it through the tough times.

Frankly I think Australia have more room to see it through the global downturn than lots of other countries esp with the favourable export prices for it's agri products and minerals. Once the instability subsides its high interest rate may once again pull in the investment. Seems the subprime issue in USA and fear is causing the massive Yen flight to safety back to home country but eventually with zero interest rate in Japan, the funds will have to find new home. The question is when?

http://business.smh.com.au/business/world-gives-aussie-dollar-a-walloping-20081026-5910.html

USJ27Resident
27-10-2008, 10:36 PM
Aussie dollar get walloped....

But the moneychangers are refusing to sell the notes at the official rates... :mad: reason being NO stocks and the money traders are still "selling" to them at high rates...

Like I said - Travellers Cheques got no expiry dates... Get them and change them when you in Australia [commission free] or back to RM [at the bank you bought 'em] when the AUD spikes back. Currently the MYR/AUD rates are like 2.35 to the dollar.... my kinda rates. :)

silver_bird
28-10-2008, 01:07 AM
Forex @ 27 Oct 2008
USD = RM 3.62
AUD = RM 2.21
NZD = RM 1.97
GBP = RM 5.64
EUR = RM 4.54
SGD = RM 2.39
CNY = RM 0.52

http://finance.yahoo.com/currency/convert?amt=1&from=AUD&to=MYR&submit=Convert

USJ27Resident
28-10-2008, 01:22 AM
NZD ??? below RM 2 ??? :eek: Time to go shopping in Auckland !! iPhones should be cheap there now...

rachel sj
28-10-2008, 10:03 AM
or back to RM [at the bank you bought 'em] when the AUD spikes back. Currently the MYR/AUD rates are like 2.35 to the dollar.... my kinda rates. :)

correct me if i am wrong, when puchasing the travellers cheques, wont you still buy at the bank's selling rates of that forex ? in which case, the bank would have imposed a margin on it before selling to you ?

sometimes bank's selling rates could be higher than moneychangers...

cskok8
28-10-2008, 02:45 PM
There is always a difference between the buying and selling rates (the spread). For "virtual money" like traveler's cheque or TT, it is usually smaller since the bank do not have to keep actual money. For money changers, they have to keep real paper money to buy/sell, so the spread is higher. During volatile times like this, the spread for money changers is even higher. So like USJ27 Resident says, buy TC instead. In Australia you can change it anywhere free of commission. Even small shops will take then (and give change)

USJ27Resident
28-10-2008, 07:50 PM
correct me if i am wrong, when puchasing the travellers cheques, wont you still buy at the bank's selling rates of that forex ? ...

yes... and currently the rate is 2.3 something... for the AUD

try getting AUD1000 from the moneychanger and you'll be paying at least 2.60 per Aussie dollar...

for crying out loud, AUD1000 and you'll GIVE the moneychanger an extra 250 plus ringgit! Doesn't make "sen", right [pun intended!]

So if you're heading south of the equator any time soon... buy T/Cheques. Just call your fav bank and ask them to prepare the cheques for you. They normally can get it in 24hrs.

By the way, when I said commission/fee free exchange - it is only applicable at the American Express forex offices... SYD has one at Westpac - Pitt St. :) In Perth... I'll have to check and update y'all. :p

USJ27Resident
29-10-2008, 01:05 AM
Jeepers... didn't noticed this... do you know that the YEN is slowly slowly creeping to the RM4.00 mark!!

And with the YEN appreciating like GILA... be prepared to start paying more for your Japanese-made products... ie. Cars, Cameras and Cash [Yen Notes] :(

I hear that Nikon and Canon has been trying hard NOT to raise prices but... first to kena raised would be the lenses... then the body!

But if you're heading south of the equator... I also hear iPhones 3G are now cheaper to swipe in New Zealand !!! Cameras... buy in Australia, more choices... D90 only AUD 1625 (RM3700 when you get your credit card statement!) :p

rachel sj
29-10-2008, 02:30 PM
yes... and currently the rate is 2.3 something... for the AUD

So if you're heading south of the equator any time soon... buy T/Cheques. Just call your fav bank and ask them to prepare the cheques for you. They normally can get it in 24hrs. :p

IMHO T/C is good only if you hv near plan going downsouth & will cash it there...

But if you are in no hurry to spend aussie and want to hold it with aim to enjoy the spread when it appreciates later, then opening an forex FD ac may be a better option, since the FD ac gives you interests...