Ringgit news and places with good ringgit exchange rate

[localbest]

I would like to start a new thread for the purpose of sharing information on which money changer offer the best rate in town in both spore & JB and also news that will affect the value of the ringgit. :D

When spore became independent in 1965 and has its own currency, it started off with Malaysian ringgit having a higher value than sing dollar. (Ninety over ringgit to one hundred sing dollar)

After that the exchange rate became the same at 1:1. But now in year 2015 which is 50 years later, the ringgit has devalued by more than 2.7 times. :p

During the economic crisis period in year 1998, the ringgit has fallen the most by about 30 plus ringgit per 100 sing dollar. From about S$100=rm170 to S$100=rm205.

After that in the early 2000s, the ringgit continue to depreciate by rm3-rm7 per S$100 every year. Until the last two years, the devaluation of the ringgit is lagi even more jialat.

Base on the Sing dollar/Ringgit historical exchange rate below, we notice that almost every year the Ringgit has been depreciating by 3 to 7 ringgit per S$100 with the exception in year 2007 and 2010. The source is taken from one of the historical exchange rate website which is considered as fairly accurate.

Historical sing dollar to ringgit exchange rate base on an average over the 365 days in a year

2002 - 2.1236
2003 - 2.1804
2004 - 2.2488
2005 - 2.2759
2006 - 2.3086
2007 - 2.2809
2008 - 2.3545
2009 - 2.4239
2010 - 2.3623
2011 - 2.4332
2012 - 2.4713
2013 - 2.5171
2014 - 2.5991
2015 - 2.6712 (for past 6 months period)

see graph below:
http://sgd.fx-exchange.com/myr/exchange-rates-history.html

Historical record over 10 over years have already shown that ringgit has gradually weaken against the dollar with no sign of long term recovery, the strengthen of the ringgit is only short term and eventually it has devalued even lagi more as can be seen from 2007-2008 and 2010-2011.

However for the past 2 years, (2013-2015) the ringgit became very volatile and has devalued even greater.

Also recently, the ringgit has continuously depreciate against the sing dollars due to the following reasons:

1) Oil price has dropped very badly. Malaysia which depend heavily on oil export to other country to generate revenue. The oil revenue constitute one third of its total revenue.

2) Initially malaysian airline has already suffered a big loss due to its poor revenue management and rising fuel costs. The company then suspended services to many locations due to poor occupancy rate. (if every trip has too few passenger then it will be flying at a loss in revenue).

However, after the disasters happened e.g. two fatal incidents of Malaysia airline MH370 and MH 17, Malaysian airline has lost two Boeing 777 aircraft which were very expensive and they have to compensate for the damages. The company stock has also fallen by about 80% and ticket sales had also declined substantially.

3) Flood last year has caused many damaged to property, facilities and infrastructure which needed to be repaired and funds to help the poor to build their homes. The amount the msia garmen spend on this will affect the ringgit as the debt and expenses becomes more.

4) US dollar always move in the opposite direction against the ringgit. When US dollar appreciate, ringgit value will fall. The worst was during the year 1998 when the ASEAN economic crisis happened. At that time 1US$ = rm3.70. But as you can see now the value of US dollar is 1US$ = rm3.65 coming close to the value during the economic crisis. Now US dollar is appreciating and this is beyond the control of the msia govt.

5) the fall in rubber price and palm oil price also reduce the revenue collected and in turn affect the value of the ringgit.

6) Has little foreign reserve and hugh foreign debt unlikely to help the ringgit to a stabilise level.

Although some msian may think that the fall in the value of ringgit can help boost export revenue but not to forget that msia is NOT a high exporting country like Japan or Korea. :)

Last month a very important news is that MAS said that it will allow the Singapore dollar to continue appreciating at a modest pace and this will likely make sing dollar even stronger against the ringgit in the near future... ;)

[localbest]

These are places with good ringgit exchange rate in JB :

1) Money changer at Merlin tower ground floor beside the jewellery shop.

2) Money changer at Komtar building level 3 (after crossing the link bridge from JB sentral to komtar, take the escalator up to level 3)

3) Money changer opposite plaza pelangi (Gigantic Eminence Enterprise)

4) Money changer opposite plaza pelangi (Midas Benchmark Sdn Bhd)

5) Money changer near crystal crown hotel (JB Central Trading)

[Aladeen]

finally i can return the favor, thanks bro.. upped u.

[localbest]

Today at people's park complex exchange rate is S$1 = rm2.69. :p

The Chinese money changer is beside the Sichuan cuisine shop...:)

[samsungXP7]

nusa bestari 2.69

[localbest]

nusa bestari 2.69

Bro, nusa bestari quite big, which money changer give good rate ? Do you always change your ringgit in spore ? :)

Holiday plaza at ground floor there is one chinese money changer used to give damn good rate. And not only that. ;)

They even have a room inside the shop for potential customer who wants to change large amount of ringgit, so it will be safe for the customer as he can count his money in the room. :p

Not many money changer will provide such a good service. :D

[samsungXP7]

but later come out get u know wat happen

[blackie19]

These are places with good ringgit exchange rate in JB :

1) Money changer at Merlin tower ground floor beside the jewellery shop.

2) Money changer at Komtar building level 3 (after crossing the link bridge from JB sentral to komtar, take the escalator up to level 3)

3) Money changer opposite plaza pelangi (Gigantic Eminence Enterprise)

4) Money changer opposite plaza pelangi (Midas Benchmark Sdn Bhd)

5) Money changer near crystal crown hotel (JB Central Trading)

Bro, Gigantic Eminence is no more.

I would like to add, the money changer in Permas Jaya, on a same row of shophouses as McDonald's.

[big_daddy]

If in SG, I usually change at Jurong East near CPF building. Around the corner @Icbc bank.

App rates show 2.7 there also can change 2.7.

[localbest]

JB Sentral building money changers always give very lousy exchange rate, sometimes among the lowest. Never change there unless you don't mind to be another ""Robert".

Also try not to change at city square, all the money changers give very poor exchange rate too, example :
1) The two money changers at the link bridge at level 3.
2) The money changer at level 2 before going to the bridge to merlin tower.
3) The money changer at level 1 near rhb bank.

I still prefer arcade building at raffles place Singapore with the best rate so far. There are many money changers there at level 1 & 2, so when there's more competition, the money changer will try to give attractive rate so end up the customers will benefit the most out of it. :D

[localbest]

Yesterday 31 May 2015 exchange rate at level 3 Komtar building.

Change S$100, rate is 269 ringgit

Change S$1000 & above, rate is 269.80 ringgit..

This is also one of the best money changer.

Place not so chaotic like merlin tower and rather safe to change there as there are guards guarding the area...

[localbest]

Bro, Gigantic Eminence is no more.

I would like to add, the money changer in Permas Jaya, on a same row of shophouses as McDonald's.

Okay thanks for the update.:p

Yes the money changer (Tropiwang sdn bhd) beside the air-con shop same row as macdonald opposite tea garden is one of the best because there is always many people queuing up to change ringgit there.:D

Very coincidence, there is also another money changer at jalan permas 10/10 also called gigantic eminence sdn bhd near the 2020 car accessories shop, but don't know whether the rate is it good or not.:)

[localbest]

Wow, breaking news...

Ringgit dropped to 273.1 (internet rate)

Break record again ! :eek:

[samsungXP7]

Yesterday 31 May 2015 exchange rate at level 3 Komtar building.

Change S$100, rate is 269 ringgit

Change S$1000 & above, rate is 269.80 ringgit..

This is also one of the best money changer.

Place not so chaotic like merlin tower and rather safe to change there as there are guards guarding the area...
guard useless.ppl use gun see guard run or not

[blacksocks]

rates are usually better in sg. it seems to be hovering at 260 in jb even though in sg is 269~270.

[localbest]

guard useless.ppl use gun see guard run or not

I think you are partially rite.

If robber come, the guard may run away first. :p

Unless komtar willing to hire Gurkha from Nepal, as they are well known to challenge terrorists and robbers as they are not afraid of dying.

Actually having guard may not be 100% safe but at least it will try to deter robbery from happening.:)

[localbest]

rates are usually better in sg. it seems to be hovering at 260 in jb even though in sg is 269~270.

It really depends on the amount u change and the money changer company that you choose to trade.

Although some JB money changer display 260, but in actual when change they may give 268 or more. :)

Maybe those JB money changers around the same area have agreed upon each other display the same rate, so that the customer do not know which is the best rate, it is more like their trick.:D

However the rate given by the money changer at JB komtar level 3 is comparable to ARCADE BUILDING. Some JB money changers offer very good rate and some can be negotiated unlike spore money changer mostly offer fix exchange rate. :p

ARCADE rate today is at 271.50 ringgit per S$100 (a new record high)

[blacksocks]

It really depends on the amount u change and the money changer company that you choose to trade.

Although some JB money changer display 260, but in actual when change they may give 268 or more. :)

Maybe those JB money changers around the same area have agreed upon each other display the same rate, so that the customer do not know which is the best rate, it is more like their trick.:D

However the rate given by the money changer at JB komtar level 3 is comparable to ARCADE BUILDING. Some JB money changers offer very good rate and some can be negotiated unlike spore money changer mostly offer fix exchange rate. :p

ARCADE rate today is at 271.50 ringgit per S$100 (a new record high)

so far, in jb, they add rm2 to the published rate...thats about it. which one gave you 268 or more?? Yea, arcade was 270 in the evening.

[localbest]

so far, in jb, they add rm2 to the published rate...thats about it. which one gave you 268 or more?? .

Money changer at Merlin tower ground floor beside the jewellery shop.

Money changer at Komtar building level 3 (after crossing the link bridge from JB sentral to komtar, take the escalator up to level 3)

Money changer opposite plaza pelangi (Midas Benchmark Sdn Bhd)

Money changer near crystal crown hotel (JB Central Trading)

Money changer in holiday plaza beside handphone shop

Money changer (Tropiwang sdn bhd) same row as macdonald Permas Jaya opposite tea garden

[big_daddy]

Jb next to Crystal Crown hotel just now.

Rm271.2 to 100Sgd...

Really high also...

[localbest]

Jb next to Crystal Crown hotel just now.

Rm271.2 to 100Sgd...

Really high also...

Bro, thanks for sharing, maybe will change there in the future.

Some money changer provide the rate for S$100 & S$1000 are different.

Normally the rate will be more by 50 msian sen per 100 sing dollar for changing S$1000

Recent news of ringgit

1Malaysia Development Berhad (1MDB) is a development company wholly owned by the Government of Malaysia.

It was reported that 1MDB has accumulated debts totaling RM42 billion. :eek:

Some citizens worry that msia may print more ringgit to save 1MDB. ;)

If this happens, it would plunge the value of the ringgit even lower, causing further hardship on the people as there are many essential items which were imported... :)

[samsungXP7]

nusa bestari 2.735

[localbest]

SHOCKING NEWS !!!!

This is the first time in history that msia ringgit has depreciated to 274.90 ringgit in internet rate as at today 4 June 2015.

However the actual money changer rate will be rm1 to rm2 lesser than the internet rate.

In another words which means you can change at 274.9 minus say1.40 = 273.50 ringgit for every S$100 at the money changer that gives fairly good rate.

This is incredible ! :eek:

[samsungXP7]

Rm no value.

[localbest]

I quote an example.

If ringgit were to devalue from S$100=rm100 to S$100=rm130,

% devalue = (130-100) / 100 X 100% = 30%

This will take many years to happen.

However, if ringgit is to devalue from S$100=rm270 to S$100=rm300,

% devalue = (300-270) / 270 X 100% = 11.1%

Although both example show the same amount of ringgit devalue which is rm30.

But from rm270 to rm300, the % devalue is much lower than rm 100 to rm130.

Therefore the depreciation of the ringgit from rm270 to rm300 will be much faster to reach than the other. :)

[drnboy]

Bro where did u change in nusa bestari?

[qax83]

Bro care to share where in nusa bestari ?

[localbest]

Breaking news !!!!

Malaysian ringgit once again dropped to 275.9 in internet rate which is a new record high.:eek:

This week has been a disaster week for the ringgit as everyday since Monday till today Friday (1 to 5 June 2015) the ringgit has weakened to a new level.:rolleyes:

Internet rate for this week
Monday - 271.7
Tuesday - 272.5
Wednesday - 273.1
Thursday - 274.9
Friday - 275.9

The actual money changer rate is rm1 to rm2 lower than the internet rate.

Saturday and Sunday there is no forex trading.:p

As you see this week the ringgit has dropped about 4.20 ringgit per S$100. This normally happen in 1 year period to drop that much.

Who knows maybe next week will drop until lagi more terok till 280.00??? :)

[big_daddy]

Wow! Where in Nusa Bestari so high? If got a few thousand.... really can drive there to change...

[wally888]

Today change SGD100 for RM272.5 at Permas Jaya money changer in the same row of shophouse with Mc Donalds. If u change more would be 273

[localbest]

Went to people's park complex and ask several money changers at about 9pm just now but was only offer rate of 271.00 which is super low. :mad:

Think is because ringgit is shortage therefore the money changer take this advantage to offer lower exchange rate.

By rite the reasonable exchange rate is supposed to be in the range between 273 to 274 ringgit because now the internet rate have just devalue again from 275.9 to 277.1

However some place in Singapore is running out of ringgit like some money changer in arcade building because of the sudden big drop in the value of the ringgit and everybody try to fast hand fast leg change as much as possible

https://sg.finance.yahoo.com/q/bc?s=SGDMYR%3DX

That is why it will be better to change in JB because the ringgit there will never be out of supply as everybody is using it.

Therefore because of that JB money changers are likely to offer a better exchange rate than Spore money changers when there is a big drop in the ringgit value... :)

[kopigaogao]

I think SG money changer keep too many Ringgit on previous exchange rate. So Ringgit falls further they have to clear old stock that's why they cannot offer best price!

[Hawkee]

The best rate is RM2.72 to 1S$ at Golden Dragon in China Town Point yesterday, but no stock. The rates at those Indian $ changers at People Park Complex ranged from 2.712 to 2.715.

[big_daddy]

The best rate is RM2.72 to 1S$ at Golden Dragon in China Town Point yesterday, but no stock. The rates at those Indian $ changers at People Park Complex ranged from 2.712 to 2.715.

Walau ... this situation is not good. Got Sgd also cannot change... want to change also not good price.

Word of advice... change in JB, do it day time, and be street smart. Dont let anybody target you.

[Aladeen]

2.72 also at fountain marina. have stocks.

[big_daddy]

If singapore money changers wanna play the "got no stocks" game... so the rate is 2.725 crap...

Go to JB and change. Midas Exchange, next to mamak/petron on Jln Tebrau and you can get 2.752...

[throne]

AMK Hub 275
AMK Central 275.20

[localbest]

At the current situation, ringgit would remain under pressure and is unlikely to recover in the short term and may decline further because of the following reasons :

1) Weak crude oil prices

2) Political uncertainties

3) Controversies about 1MDB.

4) Global monetary policy

The ringgit has more or less reached its weakest point.

However, if you noticed the historical record of the value of the ringgit, it shows that the declining ringgit is not a sudden slip but it falls very slowly and gradually. :eek:

This could be showing signs that that the ringgit are unlikely to recover and may stay at its present value or may decline further on a more permanent basis. :)

[123easy]

The rate I got over at Bukit Indah is 276.5 today.

[localbest]

Today ask around many outlets for ringgit exchange rate.

JB Sentral building money changers - 273 Lousy

City Square money changers at the link bridge at level 3 - 272 Lousy

Komtar building money changer at level 3 - change S$100@ rate of rm276, change S$1000@ rate of rm276.50. Very Good.

Kranji MRT Station money changer - 274 Moderate

Komtar money changer at level 3 got 2 outlets. One of them is near to manhattan fish and another near pharmacy.

[localbest]

Yesterday internet ringgit exchange rate was at 278.0. :D

But today it fell further to 278.5, once again create history of record high.

http://sgd.fx-exchange.com/myr/exchange-rates-history.html

So if you change ringgit at a fairly good money changer in JB like komtar level 3, rate of 277 should not be any problem.

With the current trend of the ringgit movement, like every week drop a few ringgits, in no time it will reach 1 is to 3 if it is left to float by itself.

If that happens, serious inflation in msia will definitely surface/appear as all the imported goods becomes super expensive. :eek:

Some kind of intervention may be needed to stop the falling ringgit. :p

Probably msia may need to consider pegging the ringgit to US dollar to prevent further exchange rate loss like what it did in the 1998 Asian economic crisis. :)

[samsungXP7]

today bukit indah 2.77

[Aladeen]

jb side today

at jb sentral 2.75
at city square 2.72
at komtar lvl 3 2.765

[RichieSGPG]

At Permas jaya. 2.765. Just sharing.

[tiuminator]

At the rate ringgit is falling. BolehLand should introduce capital control to stablise prices/inflation.

[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. :eek:

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..:p

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. :D

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" :eek:

[hotguy2468]

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 :D

[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]

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.

[xpeipanx]

dem it jibbyyy

[samsungXP7]

2.83 today at bukit indah

[FujiSan]

Hi

JBCC exchange rate

100 sing to 282rm.

minimum 100

[localbest]

Breaking news....

Shocking, unbelievable and uncontrollable....

The hugh drop in Malaysian ringgit today has created history again.

It has dropped to a level of more than 4 ringgit to 1 US dollar.

In terms of sing to ringgit exchange rate, it has dropped to a new record low of 288.4 today.

There are many negative issues that is affecting the ringgit:

1) China has recently devalue the yuan and this has affected the southeast asia currency.

2) United States going to raise its interest rates, which will make investors around the world move their funds to the US dollar.

3) Although the central bank of msia is trying to intervene by buying lots of ringgit and selling off US dollar, however the ringgit still does not increase in value probably because Malaysia foreign reserve has decline as reported in the news last week.

4) Drastic drop in the prices of commodities such as crude oil, palm oil and rubber also contributed to the plunge of the ringgit. Msia depend heavily on all these for its revenue.

5) Political issues & 1MDB debt.

6) Aviation disaster that has caused a hugh loss.

7) Big drop in number of tourist which affects tourism as reported by the tourism ministry

8) Msia has decided not going to peg ringgit to US dollar but instead let the ringgit float by itself which may be subjected to risk again.

Normally, a weaker currency would translate into higher inflation.

If all these issues are not resolved, the ringgit will not bounce back to its original value but instead depreciate to a level which could not be imagined...:)

If malaysian are spending less due to rising living costs then it will not be good for the economy. :p

Some malaysian businesses are affected by the implementation of 6% GST and the ringgit’s decline.

Imported materials and production costs becomes more costly end up profit margin become less.

Therefore if no effective intervention and continuous speculation of ringgit is taking place, then in no time it will break the mark of 1 is to 3. (no joke) :eek:

Remember 50 years ago, ringgit is bigger than sing dollar. 1 ringgit = 1.10 sing dollar. During that time people in msia always say want to buy cheap things, go to spore to buy.

Msia has created history for spore in 50 years ago. (A new country is formed)

Will msia create another exchange rate history for sing dollar ?????????

Think again.......

[chris91]

Changed 100 sgd for 287 today. Jb central opposite city square.

[localbest]

Below exchange rate at the following place:

Friday 14 Aug
Kranji mrt = 282.5 (before market close)
Komtar JBCC level 3 = 286.5 (before market close)

Saturday 15 Aug (market closed)
Jusco tebrau city 288

Sunday today (market closed)
Merlin tower 287

No forex trading on sat & sun

[localbest]

Internet rate closes at 292.4.

Went to people's park centre at 6pm just now, the exchange rate at the money changer was 290.10 wow...:eek:

Sources reported that China's economic slowdown over the coming years would affect Malaysia because China is Malaysia's largest trade partner.

The Chinese currency has recently devalued and this has affected the ringgit badly.

Now if msia want to stop the ringgit from further decline, it will have to adapt the following measures but not 100% guarantee can work:

1) Msia's interest rate is moderate and if it wants to attract people buying the ringgit, it should raise its interest rate higher. But this will have a negative impact on its economy.

2) Peg the ringgit to US dollar, although this will hinder economic development but at least can prevent speculation of the currency.

3) Central bank to intervene by buying more ringgit.

[norigo77]

1) Msia's interest rate is moderate and if it wants to attract people buying the ringgit, it should raise its interest rate higher. But this will have a negative impact on its economy.

2nd most likely scenario, but doing that will sink the fragile economy right into recession.

2) Peg the ringgit to US dollar, although this will hinder economic development but at least can prevent speculation of the currency.

Unlikely as the central bank has publicly denied that consideration. Likely to be used only as the last desperate resort before asking IMF for help.

3) Central bank to intervene by buying more ringgit.

Most likely scenario, as the central bank has been quietly doing so last week causing their FX reserves to sink below the critical USD100B mark.

Today, the interbank market rate has breached 2.97 per SGD1!!! :eek: Malaysia Boleh! :D

[samsungXP7]

2.95 at bukit indah today.predict reach 3.0 end of month

[localbest]

1) Msia's interest rate is moderate and if it wants to attract people buying the ringgit, it should raise its interest rate higher. But this will have a negative impact on its economy.

2nd most likely scenario, but doing that will sink the fragile economy right into recession.

2) Peg the ringgit to US dollar, although this will hinder economic development but at least can prevent speculation of the currency.

Unlikely as the central bank has publicly denied that consideration. Likely to be used only as the last desperate resort before asking IMF for help.

3) Central bank to intervene by buying more ringgit.

Most likely scenario, as the central bank has been quietly doing so last week causing their FX reserves to sink below the critical USD100B mark.

Today, the interbank market rate has breached 2.97 per SGD1!!! :eek: Malaysia Boleh! :D

Bro, thanks for your analysis.

Today sunday money changer exchange rate as follows

Kranji mrt : 290 lousy

city square bridge : 291 moderate

komtar jbcc level 3 : 293 good

[Goatslooter]

Sat at Central Money Changer 293.5:)

[throne]

Bro, thanks for your analysis.

Today sunday money changer exchange rate as follows

Kranji mrt : 290 lousy

city square bridge : 291 moderate

komtar jbcc level 3 : 293 good


bk indah 22/08 294.50

[localbest]

bk indah 22/08 294.50

Thanks for sharing bro.

Today mark a new chapter in Malaysia history. The ringgit exchange rate has exceeded the 300 mark and the forex market close at about 301 ringgit to one sing dollar.

50 years ago, spore was born from msia.

50 years later, its currency value was thrice or 3 times that of msia.

And the incredible thing is that it all happen in the month of August ! :)

[localbest]

I quote an example.

If ringgit were to devalue from S$100=rm100 to S$100=rm130,

% devalue = (130-100) / 100 X 100% = 30%

This will take many years to happen.

However, if ringgit is to devalue from S$100=rm270 to S$100=rm300,

% devalue = (300-270) / 270 X 100% = 11.1%

Although both example show the same amount of ringgit devalue which is rm30.

But from rm270 to rm300, the % devalue is much lower than rm 100 to rm130.

Therefore the depreciation of the ringgit from rm270 to rm300 will be much faster to reach than the other. :)

My above calculation has proven finally that from rm270 to rm300, the devaluation is faster to reach due to % devalue is lower, e.g. 11.1% as compare to rm100 to rm130 which is 30%

Now to devalue from rm300 to rm330 will be even faster to reach assuming the devaluation rate remain constant.

% devalue = (330-300) / 300 X 100% = 10% :)

[throne]

Thanks for sharing bro.

Today mark a new chapter in Malaysia history. The ringgit exchange rate has exceeded the 300 mark and the forex market close at about 301 ringgit to one sing dollar.

50 years ago, spore was born from msia.

50 years later, its currency value was thrice or 3 times that of msia.

And the incredible thing is that it all happen in the month of August ! :)

Update lei.. 3.03, record high..

[Gem08]

Update lei.. 3.03, record high..

Can to advise also which exchange outlet? Tks.

[throne]

Can to advise also which exchange outlet? Tks.

3.03 is interbank rates.
Try change at JB, rates usually better than SG.

[Gem08]

3.03 is interbank rates.
Try change at JB, rates usually better than SG.

Thanks. AMK Hub 29.7 today.

[throne]

Thanks. AMK Hub 29.7 today.

Yishun 294
Bukit Indah 3

[samsungXP7]

bukit indah 3.03 today

[ruchucky]

bukit indah 3.03 today

bro, can i check with u, Bukit indah change at where?

[blacksocks]

arcade 3.00 evening time today.

[starocean]

any updates

[tarma69]

Today's interbank rate is 2.905. Bukit Indah should be able to fetch at least 2.88.

[RichieSGPG]

Today's interbank rate is 2.905. Bukit Indah should be able to fetch at least 2.88.

2.9 this morning at teller opposite plaza pelangi

[tarma69]

Today's interbank rate: 2.945 :)

[RichieSGPG]

Today's interbank rate: 2.945 :)
is there any way to get the interbank rates in SG ?

[juz_mic]

is there any way to get the interbank rates in SG ?

You can when you own a bank. Interbank rate is the rates banks use to settle transaction between each other when you use your card overseas. It is inly applicable to bank. Even money changer themselves do not get that rate. The spread with plus/minus 2 of the interbank rate should be a fair rate. Money changer in Plaza Pelangi have this plus/minus 2 spread and is one of the better money changer in malaysia.

[tarma69]

You can when you own a bank. Interbank rate is the rates banks use to settle transaction between each other when you use your card overseas. It is inly applicable to bank. Even money changer themselves do not get that rate. The spread with plus/minus 2 of the interbank rate should be a fair rate. Money changer in Plaza Pelangi have this plus/minus 2 spread and is one of the better money changer in malaysia.

Excellent explanation! The money changer at Bukit Indah near 7 Days Spa also offers very good rate.

[from_nyc]

What if you go directly to DBS Bank in Singapore to change Sg dollars to Malaysian Ringgit?

[tarma69]

What if you go directly to DBS Bank in Singapore to change Sg dollars to Malaysian Ringgit?

The bid offer spreads are much wider unless you are changing in big amounts. Anyway, it seems they don't sell ringgit.
https://www.dbs.com.sg/personal/rates-online/foreign-currency-foreign-exchange.page

[wopps]

Now i think in Sg, change in Arcade or Boon Lay area can get around 2.91 or 2.90 only.....

I hope Jib-kor can give us back 2.98-3.0 laaa.....

[tarma69]

Today's interbank rate: 2.9558 :)

[A+++]

Today at jurong saw written 2.9, & I changed in bukit indah 2.92.

[wopps]

see interbank rates is useless also. all the money changers want to earn one ma.....

[localbest]

Malaysian ringgit dropped to a new low this morning at Sing $100 = rm 317.90

It later bounced back to close market trading at 311.1

The following are probably the reasons for the fall of the ringgit :

1) Investors afraid that higher US interest rates would happen once Donald Trump take over the presidency which would spark capital outflows from the region

2) Bonds were dumped by investors.

3) Global crude oil price remain volatile due to uncertain supply and demand situation

[69sex]

Which money changer offer the best exchange rate now?

[tarma69]

Malaysian ringgit dropped to a new low this morning at Sing $100 = rm 317.90

It later bounced back to close market trading at 311.1

The following are probably the reasons for the fall of the ringgit :

1) Investors afraid that higher US interest rates would happen once Donald Trump take over the presidency which would spark capital outflows from the region

2) Bonds were dumped by investors.

3) Global crude oil price remain volatile due to uncertain supply and demand situation

Ya man, the interbank rate popped to an intraday high of 321.3 before Bank Negara had to intervene to stabilize the volatility. :eek: Now with Trump's successful election and his fiscal stimulus rhetoric, fund flows are moving back to the U.S causing Emerging and Asian markets and their currencies to suffer.

[sgforex666]

Ya man, the interbank rate popped to an intraday high of 321.3 before Bank Negara had to intervene to stabilize the volatility. :eek: Now with Trump's successful election and his fiscal stimulus rhetoric, fund flows are moving back to the U.S causing Emerging and Asian markets and their currencies to suffer.

The drop is very sudden even for forex traders. Hopefully it will be better.

Lets just hope other regional currencies wont be affected too much. South Korea Won is another timebomb while Thai Bahts surprisingly looks quite calm.

[tookara]

US going to raise interest rates

[wally888]

Tis afternoon changed 3.09 at Permas Jaya, best rate I have ever changed!

[Lion_Barbell]

Tis afternoon changed 3.09 at Permas Jaya, best rate I have ever changed!

Seems like now the exchange rates in JB are better than in SGP.

[samsungXP7]

but the risk is there

[samsungXP7]

wat the rates today

[tarma69]

Tis afternoon changed 3.09 at Permas Jaya, best rate I have ever changed!

The Arcade's MCs also quoted 3.09 today. ;)

[Dirk Kuyt]

The Arcade's MCs also quoted 3.09 today. ;)

Arcade often no stock these past couple of weeks.

[samsungXP7]

today bukit indah 3.1

[tarma69]

Arcade often no stock these past couple of weeks.

That's true...depends on your luck when fresh stock of ringgit arrives. Sometimes you see people like machiam queuing up to buy Hello Kitty toys. :eek::D

[tarma69]

Like to share this comparison website showcasing which money changer in SG offers the best rates on a daily basis:

https://cashchanger.co/sgd-to-myr

[Lion_Barbell]

Like to share this comparison website showcasing which money changer in SG offers the best rates on a daily basis:

https://cashchanger.co/sgd-to-myr

Not all money changers pay the posted rates. Some require you to change a minimum sum otherwise they give you a lower rate.

[CoutinHo]

Not all money changers pay the posted rates. Some require you to change a minimum sum otherwise they give you a lower rate.

That's true. I often need to change more than S$200 before they will give me the posted rate. So now I will change in JB if need to change only small amount.

[richardongwc]

Live Update:

Arcade Ringgit: $3.10, $3.105 and $3.11

See which is the longest Q you will know which one is selling at $3.11

[big_daddy]

Paya Lebar square basement money changer. 3.10 now.

[mushroom77]

Aeon Bukit Indah 3.10 vs 3.14 as of yesterday

[Lion_Barbell]

Surprisingly JB has better rates than Sgp.
At first I wanted to change S$100 at JB Sentral @ 3.10 but the queue was long.
Then I walk across the bridge to JBCC and saw posted rate as 3.105 so I changed S$500 and was surprised when she gave me the rate at 3.12
I thought she had made a mistake and checked with her, then she replied that it is 3.12 for those that change more than S$200 and 3.105 for smaller amounts. :D

[shiokshiokrelax]

Surprisingly JB has better rates than Sgp.
At first I wanted to change S$100 at JB Sentral @ 3.10 but the queue was long.
Then I walk across the bridge to JBCC and saw posted rate as 3.105 so I changed S$500 and was surprised when she gave me the rate at 3.12
I thought she had made a mistake and checked with her, then she replied that it is 3.12 for those that change more than S$200 and 3.105 for smaller amounts. :D

quite honest.

[Weeseng9]

if want to change in singapore, arcade is the best?

[Ninja_Assassin]

quite honest.

I think that kiosk has no choice but to give above market rates as there are a few touts hanging along the walkway and approaching those looking to change money. Actually the rates from these touts are quite good too. :D

[Ninja_Assassin]

if want to change in singapore, arcade is the best?

It does not matter as most moneychangers have connections or are related to each other. The same moneychanger will also offer different rates to different customers. If you are only changing a small amount...... why bother about the few cents difference? And if you are changing large amounts...... always negotiate with the moneychanger for better rates instead of shopping around for "cheap" moneychanger.

[Lion_Barbell]

if want to change in singapore, arcade is the best?

I now change my ringgit in Malaysia. Their rates are on par with those by SGP moneychangers and sometimes is even better if I change larger amounts.

[TonyCheong2]

I now change my ringgit in Malaysia. Their rates are on par with those by SGP moneychangers and sometimes is even better if I change larger amounts.

Yes I agree. Very convenient when I come out from CIQ and change at JB Sentral.

[apitt85]

guyss..any update whats the rate for today?..

[lololhaha]

Anyone knows what is the best place to exchange for ringgit now near CIQ?

Thanks!

[kelvin50]

RM up and up

[PREM8619]

Exchange rates are better in JB.
Today Chinatown best rate only S$100 = rm316.
However in JB.... everywhere is S$100 = rm317.
From JB Sentral , City Square to Jln WAF.

[180baht]

I changed in PPC yesterday
S$1000 => RM$3175
But here in JB Sentral all 4 moneychangers offering only 3.16 leh.