Ringgit news and places with good ringgit exchange rate

[TrueExperience]

Yesterday evening, 2.782 at selected change alley changer, 2nd level

[eddy72]

turn right fm custom towards main road toward pelangi - sentosa..

money changer next to motorbike repair shop

1 - 2.775 16-06-15

[localbest]

Maybe another round of economic recession is coming. As can see our regional currency is dropping like there's no tomorrow.

Indonesian rupiah has dropped from 5000 rupiah in year 2004 to now 9980 almost 10000 rupiah per sing dollar which is double. Good for those who cheong Batam & Balai, hehe..

The ringgit was at RM227 ten years ago in year 2005.

But today 20 June 2015, the ringgit has dropped to 279.7 in internet rate. (again break record high) which is almost 280.

Although msia give higher interest rate (FD) than sing dollars but the rate of devaluation of the ringgit has caused more exchange rate loss. Therefore keeping money in ringgit end up losing in value, it will be better off if the money is kept in sing dollar instead. (exchange rate loss is higher than interest rate gain)

With this rate of depreciation of the ringgit, potential buyers of iskandar property in johor may think twice as they fear that the exchange rate may decline further. In fact iskandar property has already been oversupplied.

Jb population is currently at about one million plus only but the upcoming iskandar properties including those owned by china developers (danga bay, etc) amount to a few million units, way beyond the population. Think the developer may need to get more foreigner to stay in JB if not, their units will not be able to be sold. However JB is not a global city like kuala lumpur where there are many expatriates living there. JB is just a small city which depends largely on sporean to sustain its economy.

The volatility of the ringgit is largely due to domestic issues and partly due to external factor like rise in US dollar. But if the domestic issues are not resolved, very unlikely the ringgit can recover back its value and may decline lagi worst.

External factor that may have caused the drop in the ringgit value include uncertainties over the interest rates in the US. The value of US dollar always move opposite to the ringgit value. E.g. if value of US dollar up, ringgit down and vice versa.

Currently there are also many domestic issues that could have affected the value of the ringgit:

1) Political noise like Dr M comments about the PM may bring negative effect.

2) 1MDB issue. The debt has accumulated to RM42 billion and the garmen is responsible to settle the debt as this company is fully owned by the garmen.

3) Public unhappy about GST, to some 6% is a bit too high to start off with and some commented that msian in general are not high income earner unlike spore and therefore should not be implemented. Therefore many would not want to spend unnecessarily and this may affect the economy.

4) The fall in commodity prices like crude oil price, which msia depend heavily for its revenue. This is one of the main factor that has caused the sharp decline in the ringgit value.

[w810_76]

Bro , well analysis ! Thanks for sharing

[Aladeen]

2.78 today at jbcc

[UltraBlack]

Toa Payoh has 2.79 at multiple places today.

[Goatslooter]

wow that's good rate indeed.
CTP golden dragon only 278.5.

[throne]

Amk hub 280

[localbest]

Breaking news !!!

Ringgit has fallen to 282.60 per 100 sing dollar.

It once again break record to a brand new low.

The msian currency was peg to US dollar at 3.80 ringgit per US dollar in year 1998 during the Asian financial crisis

However, to our surprise, the ringgit has dropped even further till US$1 = 3.8045 which exceeded the peg value. The Ringgit is at its weakest level right now.

This year alone the ringgit has dropped from about 2.60 to now 2.82 per sing dollar. Some of the reasons for the falling ringgit could be due to the following reasons:

1) Political debate surrounding 1MDB is still ongoing and have not cooled down yet. This may lead to foreign investors lose confidence in keeping the ringgit.

2) The risk of Greece that may exit the euro dollar has indirectly affecting the stability of the ringgit.

3) Decline in the foreign reserve.

4) Ringgit is exposed to another risk : Foreign ownership of the stock market is relatively high, raising the risks of outflows from the country.

Some of the factors may be beyond the control of the garmen.

However if the negative news continue to appear, the ringgit would be very difficult to recover back to its original value again and may slide further to a incredible exchange rate "1 to 3"

[hotguy2468]

Originally Posted by Goatslooter

wow that's good rate indeed.
CTP golden dragon only 278.5.

Today CTP Golden Dragon slightly higher at 279.50
But still lower than PPC across the road which giving 280.00

[blacksocks]

280 at arcade monday early evening.

[fapfapfap]

Got 279.50 at both Bishan Junction 8, as well as Bukit Indah (JB) Money changer.

[chris91]

Going in today. Any place that offer thes best rate?

[Aladeen]

2.80 at jbcc above 100sgd

[chris91]

Originally Posted by Aladeen

2.80 at jbcc above 100sgd

Thanks. Seems like it's better to change in jb. Asked a few in sg and all quoting below 2.80.