Ringgit fluctuation
Dec 7th 2017 | 12:37 am
#16
Joined: Dec 2001
Posts: 53,356
From: Dixie, ex UK
Re: Ringgit fluctuation
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.
Dec 7th 2017 | 5:55 pm
#17
Just Joined
Joined: Sep 2015
Posts: 18
Re: Ringgit fluctuation
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.
Dec 7th 2017 | 7:41 pm
#18
BE Enthusiast
Joined: Aug 2015
Posts: 988
From: Penang
Re: Ringgit fluctuation
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.
Dec 10th 2017 | 10:02 pm
#19
Hostage Negotiator
Joined: Jun 2013
Posts: 5,173
Re: Ringgit fluctuation
Ringgit seen at below 4.00 against US dollar in 2018 | The Edge Markets
Oil price seems to be the most significant factor.
Dec 11th 2017 | 6:27 pm
#20
Thread Starter
Forum Regular
Joined: Jul 2017
Posts: 119
From: Here, there & everywhere
Dec 17th 2017 | 1:37 pm
#21
Forum Regular
Joined: Apr 2017
Posts: 174
Re: Ringgit fluctuation
here is the latest news: https://www.thestar.com.my/business/...-rise-further/
Dec 17th 2017 | 5:33 pm
#22
Thread Starter
Forum Regular
Joined: Jul 2017
Posts: 119
From: Here, there & everywhere
Re: Ringgit fluctuation
here is the latest news: https://www.thestar.com.my/business/...-rise-further/
Dec 17th 2017 | 7:22 pm
#23
BE Enthusiast
Joined: Aug 2015
Posts: 988
From: Penang
Re: Ringgit fluctuation
The Star publishes an article every day about the exchange rate MYR/USD. Inherently is the contents very much short term ("the hype of the day") and not based on longer term trends or economic circumstances.
