Go Back   British Expats / Living & Moving Abroad / Far East and Asia / Malaysia

Reply
 
Thread Tools
Old Dec 7th 2017, 1:37 pm   #16
Lt Col (Retd)
Premium Member
 
Pulaski's Avatar
 
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 42,909
Pulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond repute
Default Re: Ringgit fluctuation

Quote:
Originally Posted by skates81 View Post
Just three and a bit years ago (2013) when I got MM2H visa, the 1 USD was only equal to RM 2.9, so I wired my USD in Malaysia for the FD for that rate. And soon after I got MM2H, the ringgit depreciated sharply and was recently as low as RM 4.5 to USD, an approximate 50 % decrease in value. I wish I could have applied MM2H when it was 4.5 to USD, I would have saved 50% of my USD capital by doing so. And still, if I cancel my MM2H and reconvert my FD to USD back, I'm going to suffer around 35% of my total USD capital loss.
Moving a substantial part of your net worth into a small, volatile currency was, at best, ill-advised. Small under-developed countries' currencies commonly lose value over time, and so there is a strong likelihood that a significant part of your capital loss is permanent.
__________________
As quoted in the Grauniad.
Pulaski is offline   Reply With Quote
Old Dec 8th 2017, 6:55 am   #17
Just Joined
 
Joined: Sep 2015
Posts: 17
skates81 is an unknown quantity at this point
Default Re: Ringgit fluctuation

Quote:
Originally Posted by Pulaski View Post
Moving a substantial part of your net worth into a small, volatile currency was, at best, ill-advised. Small under-developed countries' currencies commonly lose value over time, and so there is a strong likelihood that a significant part of your capital loss is permanent.
LOL yeah. Still, I have around 6 years left on my MM2H visa and I am planning to hold on to the visa until it expires, so I hope that in 6 years time I'm able to get my full capital back with some profits.
skates81 is offline   Reply With Quote
Old Dec 8th 2017, 8:41 am   #18
BE Enthusiast
 
Joined: Aug 2015
Location: Penang
Posts: 573
SushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond reputeSushiFan has a reputation beyond repute
Default Re: Ringgit fluctuation

Quote:
Originally Posted by Pulaski View Post
Moving a substantial part of your net worth into a small, volatile government-controlled currency was, at best, ill-advised. Small under-developed countries' currencies commonly lose value over time, and so there is a strong likelihood that a significant part of your capital loss is permanent.
Fixed that for you.....
SushiFan is offline   Reply With Quote
Old Yesterday, 11:02 am   #19
Hostage Negotiator
Premium Member
 
InVinoVeritas's Avatar
 
Joined: Jun 2013
Posts: 5,095
InVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond reputeInVinoVeritas has a reputation beyond repute
Default Re: Ringgit fluctuation

Quote:
Originally Posted by Macsta View Post
Thanks all for the responses and information plus those who gave predictions.

2018 election - yikes - "Fasten your seat belts, its going to be a bumpy night!"
Macsta, you may find this article answers your question more completely:-

Ringgit seen at below 4.00 against US dollar in 2018 | The Edge Markets

Oil price seems to be the most significant factor.
InVinoVeritas is offline   Reply With Quote
Old Today, 7:27 am   #20
Macsta 
Forum Regular
 
Joined: Jul 2017
Posts: 52
Macsta is an unknown quantity at this point
Default Re: Ringgit fluctuation

Quote:
Originally Posted by InVinoVeritas View Post
Oil price seems to be the most significant factor.
Many thanks for the information IVV, very interesting now if I can just buy into that bitcoin malarkey I will make my fortune.
Macsta is offline   Reply With Quote
Reply

Go Back   British Expats / Living & Moving Abroad / Far East and Asia / Malaysia


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT. The time now is 4:19 pm.


Powered by vBulletin: ©2000 - 2017, Jelsoft Enterprises Ltd.
© 1999-2010 BritishExpats.com