Posted by arv18 > 2024-04-13 19:59 | Report Abuse

Of course the ringgit will open lower.

BNM is so scared they put a RM20,000 limit on TransferWise(Wise) accounts.

Maximum Holding Limit Users in Malaysia can only have a holding limit of up to RM 20,000 in Wise accounts and applies to all currencies held. If the remittance exceeds RM 20,000, the user needs to withdraw the amount that exceeds the limit to the bank account and Wise gives up to 7 days to withdraw the excess money. The user’s Wise account will be frozen if the withdrawal of the excess money is not done within the specified period and the account is reactivated after the user complies with the specified amount in accordance with the provisions of Malaysian law.

They are so s.tupid - thinking that this will stop the ringgit slide!

Posted by EngineeringProfit > 2024-04-13 20:03 | Report Abuse

By putting donkeys in all the top and critical positions, this is the best job from them you can expect

Posted by EngineeringProfit > 2024-04-13 20:17 | Report Abuse

In singapore, you get monkeys when you pay peanuts. In bolehland, monkeys got fasttracked to top positions and get monthly salary of a hundred kampung folk's households

Posted by beinvested > 2024-04-13 21:49 | Report Abuse

Treat the currency like a commodity such as cocoa bean, palm oil or wheat flour.
The products are subject to demand and supply forces.

When the currency is under strong demand from the market, its value will appreciate. In contrast, the value of the currency will drop whenever the demand from the market is getting lesser.

Another factor that can affect the value of the currency is when there are plenty of supply openly which can reduce the value of the currency or a reduced supply of the currency will however increase the value of the currency.

In order to strengthen the currency, the supply of it must be reduced and at the same time the demand of it must be created.

Posted by EngineeringProfit > 2024-04-13 21:58 | Report Abuse

This isn't hard when you get the right person in the key positions up there with meritocracy system, not kulitocracy

Posted by beinvested > 7 minutes ago | Report Abuse

In order to strengthen the currency, the supply of it must be reduced and at the same time the demand of it must be created.

Posted by beinvested > 2024-04-13 22:16 | Report Abuse

Yes, at times we are not sure if we should cry or to laugh when seeing how the economy being managed.

What could be actual situation with the Ringgit, gradually from some years ago, it has been effectively over-supplied and basically the demand of it is lesser than the supply.

Much of the money being used to fund the economy & administration of the country were through external & internal investment/borrowings which will burden the currency when repayment commenced with the local currency. A lots of local currency are needed to exchange for the foreign currency also if the borrowings are denominated in foreign currencies. Hence, the supply of the currency will accelerate.

Uncontrollable Foreign investments that leaving the country will exert further pressure towards the local currency. Firstly, the investors will dispose the equities in the local open market and selling the local currency (supply) to demand the foreign currency for the repatriation.

Posted by beinvested > 2024-04-13 22:46 | Report Abuse

In order to reduce the supply of the currency, for example, the Japanese Central Bank would buy the excessive Yen floating in the market by selling the USDs in order to achieve the expected level.

The domestic production which is positive will earn more foreign currencies for the economy and will lessen the burden on the local currency. So, the productivity of a nation/economy is very crucial for the currency. It is with the advantages of reserve of the foreign currencies then the value of the local currency can be stronger.

Posted by EngineeringProfit > 2024-04-13 22:56 | Report Abuse

This isn't hard when you get the right person in the key positions up there with meritocracy system, not kulitocracy

Posted by beinvested >The domestic production which is positive will earn more foreign currencies for the economy and will lessen the burden on the local currency. So, the productivity of a nation/economy is very crucial for the currency. It is with the advantages of reserve of the foreign currencies then the value of the local currency can be stronger.

Posted by arv18 > 2024-04-13 23:42 | Report Abuse

@beinvested

If you use gold as a long-term measure, then in 1999, 1oz around 30,000JPY. Now (25 years later) it is 1oz to 360,000JPY.

Yes! The ringgit is over-supplied especially to contractors and civil servants. The government keeps investing in non-productive assets e.g. bailouts (90s) to white elephant projects like MRT and TRX that will not be able to recoup investment - unless ringgit is depreciated to RM20 to USD.

It is a vicious cycle- even Malaysian companies earning ringgits will not convert. Why? Guarantee MYR to decline further so convert only when necessary!

Posted by stockraider > 2024-04-14 10:28 | Report Abuse

Yes keep in investing in quality export sector like inari.....u would not regret loh!

Alternatively u can by Insas as a cheaper proxy with better value loh!