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Thread: It breaks 3.8

  1. #1
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    It breaks 3.8

    At at 10am, StandChart I saw the exchange rate was 3.7997. At 12:30pm, PBB rate break 3.80 at 3.8020.

    Last night my girl was telling me to hold on payment, hoping it will go down.

    So many things not right, thanks to BN

    http://www.themalaysianinsider.com/s...mak-khuin-weng

  2. #2
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    Typically, as with our BBB [ Blessed Bolehlander Brethren ]......this iconic moment in our nations financial history.....passes by with little ado......as one 'Analyst' passes it off as 'not unusual' ......whilst,.....they carry on living in 'lulu-lulu land' with the most viewed news on the MM Portal being about naked tourists, and designer vaginas


    'Analyst: Weakening ringgit not unusual' ...>>Read@Malay Mail<<


    And....Most viewed on Malay Mail Online now.......'Designer vagina fad hits Malaysian'.....>>>Read More @MM Here<<<

    So?? Will that cost more too?

  3. #3
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    However others want to look at it, our currency is NEVER resilient!..it sway to the wind.. say whatever..I stick to my own view. When prices go up it never come down..but rates can spiral downwards so so easily like a whirlpool in a flash.

  4. #4
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    [QUOTE=kuma;593823][I][COLOR="#0000CD"]Typically, as with our BBB [ Blessed Bolehlander Brethren ]......this iconic moment in our nations financial history.....passes by with little ado......as one 'Analyst' passes it off as 'not unusual' ......whilst,.....they carry on living in [I]'lulu

    LOL - you're so funny bro...

  5. #5
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    Quote Originally Posted by Sentinel View Post
    LOL - you're so funny bro...
    What to dooo looo bro? .......All I can do is laugh it off too ......if you can't beat, join 'em la

    And for those who search the local news portals for news of our 'bottomless linggit'.....not much lo .....but when you do....what is not mentioned is.....

    Sure, its because of US's loctored [oops sorry] 'jobs reports and non farm payrolls' .....that many other currencies got whacked too......BUT,......

    'Ringgit Leads Asia Losses This Week'


    >>ReadMore@Bloomberg<<


    "Malaysia’s ringgit fell for a third week as oil prices slumped before U.S. data......The currency led declines in Asia as a 5.9 percent drop in Brent crude this week weighed on the outlook for Malaysia..........The country’s exports contracted more than economists forecast in April and the trade surplus narrowed"

  6. #6
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    Yup!..LEAD!..for the wrong reasons!

  7. #7
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    At USD1.00 = MYR3.8020.... a currency trader at UOB Kayhian said this to me.... "see you at 4!".... and my stupid answer over the phone was "uhh... I'm not in Singapore, can't see you!" It was only after I said that did I realize what he really meant...

    If Fitch really goes ahead and downgrades Bolehland's credit rating, then even 4.00 is not the limit.... imagine a job creation report in the US can cause such a ripple to the ringgit today....

  8. #8
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    I recall 1997 when one idiot supplier at my exhibition booth was taunting me and partner when the US currency rate was yo yo on an hourly basis. I really loathed that manager and swear never to be friends again.
    Lousy fella!.. not a person to do business with..

  9. #9
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    Quote Originally Posted by Sentinel View Post
    At USD1.00 = MYR3.8020.... a currency trader at UOB Kayhian said this to me.... "see you at 4!".... and my stupid answer over the phone was "uhh... I'm not in Singapore, can't see you!" It was only after I said that did I realize what he really meant...

    If Fitch really goes ahead and downgrades Bolehland's credit rating, then even 4.00 is not the limit.... imagine a job creation report in the US can cause such a ripple to the ringgit today....
    It doesn't matter if those numbers are real or not.....nothing is real anymore.....but those numbers are needed for the run up to the [US] FED raising interest rates......so the USD is being 'bought up' everywhere in anticipation of that....

    Everyone is seeing losses now on account of the flight of money.....However, BB which took the biggest hit in Asia has 'other issues' to sort out too

    But, me figures.....the FED will back out..... 'will not' raise interest rates....but opt for QE4.......then the $ will plunge, and all those who flew to the 'Cuckoo's Nest' will get !@#$ .....the big question is:

    How Will BBRM fare then??

    Looks like we are being 'F'ed' on a 'Slow Hand'


  10. #10
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    It will be REAL when anyone walk into a store to buy something, then you're surprised the price increased. Then when asked why, the shop fler says "Oh!...our cullency vely bad lah..now 3.80 lor!.. so plice inclease lor"... Wan or not?..without flinching!
    I overheard this 4 times just last Saturday at Amcorp Mall flea market..

  11. #11
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    Quote Originally Posted by bslee View Post
    It will be REAL when anyone walk into a store to buy something, then you're surprised the price increased. Then when asked why, the shop fler says "Oh!...our cullency vely bad lah..now 3.80 lor!.. so plice inclease lor"... Wan or not?..without flinching!
    I overheard this 4 times just last Saturday at Amcorp Mall flea market..
    Even Thai baht is 10% stronger than RM.

  12. #12
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    $%&*(*%$!!!! my 2 cents

  13. #13
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    After the dust has settled.... after the Fed have had their meet and fix the damn rate and after Fitch has decided on Bolehland's rating.... me think Ringgit will settle at around RM3.70-3.80 range for the medium run.... we cannot see further until we know if your 1PM can still pull a rabbit out of the hat to pay the next RM3.6 billion due early next year....

    Thank God we still trade coal at USD and pay our wages in Rupiah.... otherwise die....

  14. #14
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    http://www.thestar.com.my/Business/B...380/?style=biz

    As usual, the 'powers' still deny or downplay the problems in our country instead of taking more concrete actions.

    They ignored the facts that the other asian currencies such as Chinese RMB, Sing dollar and Thai Baht have all strengthened a lot against the ringgit during the past year.

    The ringgit is the second worst performing Asian currency. Rupiah is the worst

  15. #15
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    Since everyone is so excited about MYR rate, here is some comments (free comments lah) from traders.

    • In general, the USD has a mixed performance this week as investors reset their expectations for Fed tightening. While market believes that Fed will leave interest rates unchanged this month, investors are looking for hawkish comments and more direct guidance for a September rate hike from Janet Yellen in June and this will largely depends on US NFP data. There's no doubt that the U.S. economy and the labor market is improving but the dollar is also overbought so even if it pushes higher on the back of a strong jobs number, it could be hit by profit taking next week as investors cut back on some of their positions ahead of the June 17th FOMC rate decision.

    • There was no consensus for Greece to reach any bailout despite much chattering hence the volatility in the pair but the EURUSD pair had reached a 2-weeks high at 1.1380 as investors rushed to purchase German bunds thanks to the high yield (relatively). Greece has also told the IMF that they will not be able to make this week's 321 million euro payment and have asked to bundle it into one 1.5 billion euro payment at the end of the month. Clearly Greece is banking on the release of fresh bailout funds before the June 30th deadline. While market firmly believe that some type of agreement will be made before the end of the month, there could be more painful discussions in the weeks that follow.

    • On the local front, USDMYR traded to highs 3.7170 at time of writing on back of EM asset dumping on funds relocating their portfolios out of EM. SGDMYR broke through 2.7500 also helped the pair to push higher. With European yields going higher it’s a matter of time before regional yields head higher for the summer as well. This in turn should turn USD biddish against regional pairs

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