Ringgit fluctuation
#16
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.
#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.
#18
BE Enthusiast
Joined: Aug 2015
Location: Penang
Posts: 959
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.
#19
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.
#21
Forum Regular
Joined: Apr 2017
Posts: 155
Re: Ringgit fluctuation
here is the latest news: https://www.thestar.com.my/business/...-rise-further/
#22
Forum Regular
Thread Starter
Joined: Jul 2017
Location: Here, there & everywhere
Posts: 119
Re: Ringgit fluctuation
here is the latest news: https://www.thestar.com.my/business/...-rise-further/
#23
BE Enthusiast
Joined: Aug 2015
Location: Penang
Posts: 959
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.