Malaysia | Foreign Exchange | Quo Vadis, Ringgit! Facts And Evolutions

Forex Currency Charts: Exchange Rates Malaysian Ringgit Against Major Currencies Published By Bank Negara Malaysia (BNM)

Since beginning of this year, I started to have interest in foreign exchange market when a deal involving a foreigner purchase of landed property. Investor Forum Business Daily | Exchange Rates History| Malaysian Ringgit versus US Dollar. That was the time I started my monitoring.

A glass could be half full or half empty. Depending on how you view it. For us as investors we would like to look from the perspective of how turn the tides around with data. As history been mentioned, Malaysia started to pegged the ringgit against greenback (US dollar) in September 1998. For a duration of 7 years till July 2005 the ringgit was pegged at the psychological threshold of RM3.8000-to-a-dollar. Bank Negara Malaysia (BNM) did the capital control during Asian financial crisis (AFC). 

Fast forward exactly 10 years after lifted the peg, the Malaysian ringgit went above the 3.8000 threshold again and that happened during last two weeks. Are we in for another financial crisis (again)? What is your opinion? Trying to connect the dots. The local note was also traded lower against other major currencies except the Euro (refers to the graph) during the one year snapshot. At the closing last Friday (24 July 2015), the Interbank Foreign Exchange Market in Kuala Lumpur recorded 3.8080/3.8100 .

This is your opportunity to invest in Penang. Apparently with current scenario, foreigners might want to invest their hard earned money here. Malaysia has initiated her Malaysia My Second Home (MM2H) program with various incentives. MM2Home | MM2H Forum Expat Malaysia| MM2H requirements | MM2H news. Recently a group of 6,000 tourists from China under their company trips made their way to Penang and Langkawi Island. It was reported 3,000 tourists spent their holidays in Penang while the other 3,000 tourists spent theirs in Langkawi Island located north of Penang Island.

George Town Festival 2015 (GTF 2015) celebration in the month of August. As part of George Town inscription on 7 July 2009 as UNESCO World Heritage Sites, the #GTF2015 will features arts, culture, heritage and community events to celebrate throughout the festive month. This is another opportunity to get to know Penang better. Previous year events: UNESCO World Heritage | Month-long celebration at George Town Festival 2013.

Malaysian Secondary Property Exhibition (MASPEX2015) Penang Edition is around the corner: Penang MASPEX 2015 Reboot In Queensbay Mall from 13 Aug 2015 to 16 Aug 2015. This is the 3rd edition for Malaysian Secondary Property Exhibition (MASPEX). It's expect to showcase more than 6,000 properties covering Penang Island and its mainland secondary (sub-sale) market properties. There will be property talks' sessions to cater for buyers to enhance their knowledge on status updates for Affordable Housing in Penang and Penang's infrastructure projects with their impacts on Penang Property Hotspots.

Reference: Penang Capital Investments 1QFY2015 In One Easy Step (Infographic)

Boldly go. LLAP

This report is been compiled by VULCAN INTERNATIONAL Real Estate Research Institute http://VulcanResearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://VulcanInternational.blogspot.com .

#VulcanInternational could be contacted at +6 016 451 1321 .

You're welcome to write your constructive comment below.

Investor Forum Business Daily | Exchange Rates | Malaysian Ringgit versus US Dollar

Real Estate Investment Malaysia | The ringgit fell 1.3% last week to 3.5615 a dollar, the biggest loss in Asia, data compiled by Bloomberg show. The currency has weakened 14% since August 2014 and reached a five-year low of 3.5987 based on http://www.exchange-rates.org/history/MYR/USD/T today. Reserves declined 7.7% to US116bil(RM413bil) in December from November, Bank Negara reported late Thursday.

The graph below shows historical exchange rates between the Malaysian Ringgit (MYR) and the US Dollar (USD) between 7/17/2014 and 1/13/2015.

According to Bloomberg and quoted by Starbiz from The Star newspaper today, the ringgit fell to the lowest level in more than five years on concern that a protracted slump in crude prices would erode the oil-exporting nation's revenue. Brent crude sank to levels not seen since 2009 on speculation US crude stockpiles would increase exacerbating a global supply glut.

Malaysia may review its 2015 budget to take into account the impact of falling energy costs, according to a report from the official Bernama news agency.

"Oil prices are again lower and some of that seems to be seeping through to the Malaysian ringgit," said Divya Devesh, a foreign-exchange strategist at Standard Chartered Plc in Singapore. "Until we see a stablization in crude oil prices, it's really looking like difficult times for the ringgit."

The currency has fallen in six of the last eight days and lost 9% in the past three months, the worst performance in emerging Asia. For the latest exchange rates by Bank Negara Malaysia(BNM) refer to Ringgit Foreign Exchange Rates .

This article has been written by VULCAN INT'L Real Estate Research Institute http://www.vulcanresearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://www.vulcaninternational.blogspot.com .

#VulcanInternational could be contacted at +6 016 451 1321 .

Note: If you've factory/warehouse/land/commercial building/condominium/house to sell/let or intent to buy/rent one, do call Mr Vulcan Lau +6 016 451 1321 . We will match the buyer/tenant or seller/landlord for you from our MLS.

You're welcome to write your constructive comment below.

Malaysia Banking Info | A Cheque Too Costly

21 March 2014: Latest news update...The Bank Negara Malaysia(BNM) mentioned that the exercise of imposing 50 sen per cheque will be deferred to 2 Jan 2015. This is to ensure that the required hardware to facilitate such e-payments would be in place in all states and federal government agencies.

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Effective 1 April 2014, banks will charge a cheque processing fee of 50 sen on the issuer of the cheque in addition to the current 15 sen for stamp duty. Therefore total cost will then be 65 sen per cheque leaf versus the current of 15 sen. An increase of 333%. 

The Association of Banks Malaysia(ABM) clarified that there has been no processing fee imposed on cheque issuers all this while. It's said to be in line with directive by Bank Negara Malaysia(BNM) issued on 20 March 2013. A checked on BNM's website under A New Pricing Strategy to Promote Greater Efficiency mentioned that increase is in tandem with incease usage of Interbank GIRO or IBG transactions that is performed online via internet banking and mobile banking. In 2 May 2013 Interbank #GIRO or #IBG transactions fee has been reduced to 10 sen. #BNM wants consumers to adopt the more cost effective electronic payment methods while charges will be levied on cheques to reflect its higher cost.

To me the Interbank GIRO or IBG transactions fee should be totally abolish and as part of banking system it should be provided free to their customers.

 

This article has been written by VULCAN INT'L Real Estate Research Institute http://www.vulcanresearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://www.vulcaninternational.blogspot.com .

VulcanInternational could be contacted at +6 016 451 1321 .

You're welcome to write your constructive comment below.

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