The Ringgit, Malaysia’s Currency…

The question for 2018:

HOW HIGH CAN THE RINGGIT GO IN 2018?

This was how low the Ringgit was against the US Dollar in January 2017

zzz ringgit

On 16 October 2018:

zzz rrring

14 September 2018

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SINGAPORE (Sept 14): USD/MYR is ready to start a fresh downtrend as its divergence from a flattening forward FX curve comes to an end. The ringgit will also benefit from the positive sentiment shift seen this week toward the EM currency complex.

A strong dollar and concerns over Malaysian government revenue have been part of the reason for spot USD/MYR to break its traditional link with forwards in recent weeks. Both are now fading as factors against the ringgit. USD is losing ground across EM FX pairs and PM Mahathir’s government is getting into its stride.

http://www.theedgemarkets.com/article/ringgit-can-strengthen-it-catches-curve-flattening

..

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http://tefd.theedgemarkets.com/2018/TEP/20180914a9vg79.pdf

..

Ringgit among world’s best performers after regime change, Guan Eng tells Najib

KUALA LUMPUR, Sept 13 — Finance Minister Lim Guan Eng said today that the ringgit is among the world’s best performing currencies, rebutting Datuk Seri Najib Razak’s claim that the currency has not recovered despite him stepping down after the polls.

Lim said the ringgit’s strength is proof of local and foreign investors’ confidence in Putrajaya, despite a regime change with Tun Dr Mahathir Mohamad replacing Najib as prime minister.

“Since the end of 2017, the value of the ringgit compared to the US dollar only fell 2.2 per cent as at September 11, 2018,” Lim said in a statement.

He said it was a much better performer compared to other currencies such as the Australian dollar — whose value fell by 9.9 per cent in the same period — Indonesian rupiah (9.8 per cent), Chinese yuan (5.6 per cent), South Korean won (5.7 per cent) and the Singaporean dollar (3 per cent).

Lim also provided a table, denoting the ringgit as one of the most stable currencies with a floating exchange rate compared to 12 other selected currencies.

“The Pakatan Harapan federal government is really confident that the position of ringgit’s currency value will only rebound in the medium term after all Barisan Nasional’s debt problems and scandals, such as 1MDB, are solved,” he said.

https://www.malaymail.com/s/1672223/ringgit-among-worlds-best-performers-after-regime-change-guan-eng-tells-naj#.W5pLw9E7P14.twitter

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KUALA LUMPUR,. The ringgit’s performance since the general election shows it has decoupled from global oil price, said Datuk Seri Najib Razak when insisting he was falsely accused of causing the currency’s devaluation previously.

The former prime minister posted two charts online detailing the historical performance of the Malaysian currency against the price of Brent Crude going back to 2010 that showed a directly inverse relationship between the two up until recently.

Najib also held up the ringgit’s recovery between 2010 and 2013, which he said was made possible because he avoided pegging the Malaysian currency in the way Tun Dr Mahathir Mohamad did during the 1997 Asian Financial Crisis.

“Never in the history of Malaysia has the ringgit recovered as much as it did when seen in hindsight. I am not praising myself as the recovery is due to high oil price at the time and not entirely because of efforts by the Barisan Nasional government and myself,” he wrote on Facebook.
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Expressing concern with the ringgit’s decline now, he asserted that the recent fall was not caused by a dip in oil price as this has risen to US$78 per barrel while the Malaysian currency went in the opposite direction.

“Before the general election, Pakatan Harapan leaders said ‘If Najib goes down, the ringgit will go up.’ I am perplexed because I was taken down four months ago and the ringgit is still going down.

“Whichever the case, I hope the PH government will take note of my concern about the ringgit before it becomes burdensome.

The ringgit is currently trading at 4.15 to the dollar or its lowest in 2018.

http://asianewstoday.com/blog/najib-weak-ringgit-clearly-not-my-fault/?utm_source=dlvr.it&utm_medium=twitter

26 January 2018

zzzringgit

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According to Reuters on Jan 23, the ringgit had strengthened more than 10 percent against the dollar in 2017. 

Read more at https://www.malaysiakini.com/news/409936#QMv1g2xCGiVHX7vP.99

zzz2017

https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/usd/USD-to-MYR-2016#charts

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https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/usd/USD-to-MYR-2016#charts

25 January 2018

20m20 minutes ago

Don’t be too happy yet about ringgit’s upturn, warns economist

Published:     Modified:

The value of the Malaysian ringgit is improving but its upturn is unlikely to continue unchecked, said senior research fellow at the Malaysian Institute of Economic Research Shankaran Nambiar.

Shankaran noted firstly that the ringgit’s upturn was not surprising.

He explained that the ringgit had taken a massive beating in the past two years, and being as low as it was – the worst performer in Asean – it had been an inviting currency for forex traders to pick up.

“The oil price hike, encouraging export numbers and the sustained budget deficit all added to its appeal,” the economist told Malaysiakini.

However, the upward movement of the ringgit will not be without restraint, Shankaran…cautioned.

It will have an impact on exports, and there will be profit-taking once the ringgit reaches a threshold, he said.

“Pre-election jitters might cause a slight slip, and events in the US – tax reform and a (interest) rate hike as the US economy continues to improve – may shift funds away from Malaysia, discouraging a prolonged uptick of the ringgit,” he added.
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Shankaran said that sadly, there is little debate in official circles on the more long-term issues that plague the Malaysian economy.

A short list would include outstanding concerns such as affordable housing; the cost of living; accessible healthcare; high public and household debt; and the question of contingent liabilities.

A longer list would include the constraints on human capital; the large use of migrant labour; declining standards of education; transparency and governance; and questions of inequality.

“To sum up, the economy is definitely looking better today than it did some months back but then there is not a lot of reason to lower one’s guard,” he said.
.

Read more at https://www.malaysiakini.com/news/409936#QMv1g2xCGiVHX7vP.99

The question of 2016 and 2017

HOW LOW CAN THE RINGGIT GO?

Did you think the Ringgit is now at its lowest ever? No. It traded at 4.71 in January 1998 when Dr Mahathir was Prime Minister.

4 Jan 2017

3m3 minutes ago

Ringgit cecah paras 4.5002 Selanjutnya di

zz.jpg

29 Nov 2016

Malaysian Retweeted CS Chen

PM: Ringgit drop not as bad as claimed

Malaysian added,

z2.jpg

48m48 minutes ago

29/11/2016 12:30. JPY100: 3.9808; CHF: 4.4006(-0.0167); AUD: 3.3317 |

29/11/2016 12:30. CAD: 3.3229(+0.0125); SGD: 3.1302(-0.0050); HKD100: 57.5385(+0.0191) |

This is how bad Malaysian Ringgit drops.

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15 Nov 2016

Yesterday, an analyst from CIMB in Malaysia voiced her concerns that the ringgit outlook was negative with the currency possibly hitting between RM4.50 and RM4.80 against the US dollar over the next three to six months.

15 Nov 2016

No more ringgit, say some S’pore moneychangers

via

PETALING JAYA: The volatility of the Malaysian ringgit following the sudden drop last Friday has seen the currency being stocked up in Singapore, The Straits Times reported today.

Four moneychangers which the daily spoke to admitted that they had run out of the ringgit altogether.

This was despite the rate being less favourable than last Friday when the ringgit had traded above RM3.10 to the Singapore dollar (SGD).

With some controls put in place by Bank Negara Malaysia, the ringgit had recovered to below RM3.05 as of yesterday.

According to checks at most moneychangers, the ringgit was fluctuating between RM3.01 and RM3.03 to the SGD.

Meanwhile, bankers and investment analysts suggested more volatility is expected of the ringgit.

“I had earlier forecasted that the ringgit could weaken further to hit RM3.15 against the Singapore dollar in the first quarter of next year.

“However, now I think the ringgit could hit that level earlier, given the political developments in the US,” ST quoted Macquarie Bank head of forex strategy Nizam Idris as saying.

A senior official at Credit Suisse concurred, saying that though many Asian currencies had weakened, the pressure on the Malaysian currency seemed more intense.

“Malaysia’s foreign exchange reserves have diminished, from about US$120 billion at the end of 2014 to about US$98 billion now.

“This is contrary to the rest of Asia, where most central banks have had strong growth in their reserves. As such, the Malaysian authorities will be less able to mitigate any excessive weakness in the ringgit,” Credit Suisse senior investment strategist Heng Koon How told ST.

7 September 2016

Photo of Fake Ringgit notes: Source unknown. Received on WhatsApp.

8 December 2015

新加坡錢幣兌換商透露,因逢學校假期,令吉這一兩天出現賣斷貨的現象……
http://www.chinapress.com.my/?p=518731

‪#‎今日中國報‬

Singapore money changers disclosed that due to every school holidays, ringgit this two days appear buy stock of the phenomenon……
http://www.chinapress.com.my/?p=518731
# Chinese newspaper today

23 November 2015

ANOTHER FAKE RM100 NOTE TURNS UP BUT THIS TIME, THE USER IS ARRESTED and so is his accomplice.

BorneoPost Online

Batu Kawa supermart detects customers using fake notes

zbItems seized from a man arrested for allegedly using fake notes to purchase goods from a supermarket in Batu Kawa.

KUCHING: A 33-year-old man was arrested for allegedly using fake notes to purchase goods from a supermarket in Batu Kawa on Saturday night.

The suspect, along with another man believed to be his accomplice, was arrested by the security guard after their ploy was unraveled by supermarket staff.

Police from Batu Kawa station rushed to the scene after receiving information regarding the case.

Also seized were several items including chicken meat, sausages, receipt of purchase as well as a RM100 note believed to be fake.

28 October 2015

SGD to drop 2% following reassessment, say analysts

SGD to drop 2% vs USD this year following reassessment, say analysts

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October 28, 2015

SINGAPORE — The Singapore dollar will weaken about 2 per cent against the greenback by year-end after the central bank “slightly” reduced the pace of the currency’s gains versus those of its trading partners, analysts predict.

The local dollar will slide to S$1.42 by the end of December after the Monetary Authority of Singapore probably lowered the slope of its appreciation against its undisclosed basket to 0.5 per cent this month, down from 1 per cent, according to the median estimate of 19 analysts surveyed by Bloomberg. The projection for year-end would still be stronger than the six-year low of S$1.4366 reached on Oct 2.

Australia & New Zealand Banking Group became less bearish on the Singapore dollar following the smaller-than-expected easing, and it expects policymakers to refrain from further action until at least the next review in April, according to senior currency strategist Khoon Goh.

http://www.todayonline.com/singapore/sgd-drop-2-following-reassessment-say-analysts

26 August 2015

The ringgit closed 1.12% better to the US dollar, snapping a 17-day losing streak, on improved risk appetite.
5.00pm
USD1: RM4.2105

12.47pm
USD1: RM4.2615
SGD1: RM3.0267

retweeted

retweeted

Ringgit continues tumbling, sinks below 3.02 against Singdollar

SEEN: Long queues at Raffles Place money changers during lunch time today

SINGAPORE: The Malaysian ringgit continued its freefall on Tuesday (Aug 25), with S$1 worth 3.0267 ringgit shortly after markets opened.

The ringgit sank past the psychologically key level of 3.00 against the Singapore dollar on Monday, trading as low as 3.0114 ringgit against the Singapore dollar.

Hit by the deepening commodity price slump as worries about China’s economy dented global risk appetite, the currency also slumped to a 17-year low of 4.2615 against the United States dollar.

The free-fall led to a surge in demand for the ringgit here, with many people flocking to money changers, several of whom told TODAY they had either run out of the currency or were low on stock. Long queues were seen at money changers in the Central Business District, who were offering rates of up to 2.96.

http://www.channelnewsasia.com/news/singapore/ringgit-continues/2074232.html?cid=TWTCNA

24 August 2015

10.47am
USD1:RM4.2475
SGD1:RM3.0018

Singaporeans flock to money changers as ringgit hits 20-year low

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Economist Song Seng Wun said: “The unstable political climate in Malaysia, with allegations involving Najib, has caused foreign investors to stay away.

“Businesses are holding back and putting their money into safer havens around the region, including countries like Singapore.”

In the short term, Singaporeans will benefit from the weaker ringgit.

And plenty have been exchanging the Singdollar for ringgit, for shopping trips across the causeway.

Mr Muhammad Noor, 35, the owner of Fajar Money Changer at Lucky Plaza, said he has seen a record number of customers since the ringgit hit a new low of RM2.97 per S$1 on Friday.

He said: “I’ve never seen so many people. The queue is almost 500m long. And I’m running out of the currency.”

People are not just changing small amounts for their weekend jaunts.

Said Mr Muhammad: “The demand is huge. These people are also changing Singapore dollars for ringgit at huge amounts ranging from $500 to $10,000.”

– See more at: http://www.tnp.sg/news/singapore-news/singaporeans-flock-money-changers-ringgit-hits-20-year-low-0?utm_campaign=Echobox&utm_medium=Social&utm_source=Twitter#link_time=1440375440

Ringgit slumps to historic low against Singdollar; S$1 = 3.0018 ringgit as of 9.30am

continues to weaken. spiralling down. Not a good time to travel. rally looming.

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20 August 2015

Malaysian Insider

Ringgit tumble turns condom maker into a winner as AirAsia loses

LOSERS

Foreign-currency borrowers:

Tenaga Nasional Bhd, a Kuala Lumpur-based power utility that dropped 15% in local trading this month, has US$1.1 billion of debt denominated in dollars and yen.

Axiata Group Bhd, Malaysia’s biggest mobile-phone carrier by market value, has US$1.4 billion of US currency debt. Other stocks vulnerable to overseas borrowing include Astro Malaysia Holdings Bhd, Sunway Bhd. and IJM Corp, according to Terence Wong, an analyst at CIMB Group Holdings Bhd.

Companies with dollar-based costs:

AirAsia Bhd, Southeast Asia’s largest budget carrier, and its long-haul affiliate AirAsia X Bhd, both incur about 70% of their operating costs in dollars, while the ratio is more than 50% for carbonated drinks maker Fraser & Neave Holdings Bhd, according to CIMB.

Companies including British American Tobacco (Malaysia) Bhd, Guinness Anchor Bhd and Nestle (Malaysia) Bhd. also purchase raw materials in dollars and get revenue in ringgit, squeezing their profits when the Malaysian currency weakens.

Auto importers:

UMW Holdings Bhd, which distributes Toyota Motor Corp vehicles, imports dollar-denominated parts and components, according to Hong Leong Investment Bank Bhd.

UMW and DRB-Hicom Bhd, which sells vehicles for Audi AG and Honda Motor Co, have both declined at least 18% in Kuala Lumpur trading this year.

WINNERS

The rubber industry:

Karex Bhd, the world’s largest maker of condoms, and Top Glove Corp, the biggest rubber-glove maker, are among Malaysian exporters that stand to gain from a weak ringgit, Anand Pathmakanthan, the head of Malaysia research at CLSA Ltd, wrote in an August 11 report. At least 90% of the companies’ sales are denominated in dollars, according to CIMB.

Semiconductor exporters:

Malaysian chipmakers get almost all of their revenue in US currency, according to Hong Leong Investment Bank. Local producers include Uchi Technologies Bhd, Malaysian Pacific Industries Bhd and Inari Amertron Bhd, a maker of radio frequency chips used in Apple Inc devices. – Bloomberg, August 18, 2015.

– See more at: http://www.themalaysianinsider.com/malaysia/article/ringgit-tumble-turns-condom-maker-into-a-winner-as-airasia-loses#sthash.Mz8p1Of8.Mdi9nDKd.dpuf

WILL TOURISM BENEFIT FROM THE WEAKER RINGGIT?
So far only JB businesses seem to be gaining, and so are car thieves there! (See: Yes, they steal Singapore-registered cars in JB)

Singaporeans are heading for its restaurants, big-box retailers and shopping centres. Some switched their vacations to Malaysia from Bangkok after a deadly blast on Monday, while Singapore money changers at times ran out of ringgit as demand surged.

Ringgit rout: Singaporeans travel to Malaysia and shop for bargains – The Straits Times

SINGAPORE (BLOOMBERG) – When Edmund Goh wanted a better air-conditioning system for his Toyota Harrier, he chose a mechanic in Malaysia where the currency, at a record low against the Singapore dollar, offered a bargain for the upgrade.

He said he paid RM780 (S$265.70) for what would usually cost him $700 in the city-state. His friends head across the border for cheaper food, groceries and massages, unperturbed by inconveniences ranging from traffic jams and higher toll rates, as well as reports of theft of Singapore cars.

“With the exchange rate itself you save more than half,” said Mr Goh, 35, who works in operations for London-based asset manager RWC Partners.

The Singapore dollar closed at a record 2.9246 per ringgit on Wednesday and has climbed about 11 per cent against the Malaysian currency this year.

http://www.straitstimes.com/business/economy/ringgit-rout-singaporeans-keep-calm-shop-for-malaysian-bargains

17 August 2015

RINGGIT AMD KLSE FALLS AGAIN.

FBMKLCI 1,572.540 1590.810 -24.280

Ringgit Malaysia dropped worst and worst now! Why this happen? Well i think you all know why

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falls by more than 1% vs USD today on selloff in stocks, bonds

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2:37 PM, August 17, 2015

SINGAPORE — Malaysia’s ringgit fell more than 1 per cent today (Aug 17) to stay near its 1998 pre-peg lows on an extended selloff in local stocks and bonds amid fears of capital outflows.

The ringgit lost 1.4 per cent to 4.1370 per US dollar in thin liquidity, compared to Friday’s low of 4.1500, its weakest since Sept 1, 1998. Malaysia pegged the ringgit at 3.8000 from September 1998 until 2005.

Kuala Lumpur stocks dropped 1.5 per cent, while the five-year government bond yield rose as high as 4.036 per cent, its highest since November 2008.

http://www.todayonline.com/business/malaysian-ringgit-falls-more-1-selloff-stocks-bonds

14 August 2014

KL bridge is falling down, falling down, falling down, KL bridge is falling down my first lady

Elsie El retweeted Kritis Online

It’s getting worse!

Elsie El added,

weakens to 4.1 to as falls below crucial 1,600:

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The ringgit today saw a sharp plunge despite Prime Minister Najib Abdul Razak’s assurance last night that efforts would be made to address the country’s sliding currency.
 
As of 11.10am, the ringgit stood at 4.1223 to a US dollar, or a decline of 2.3 percent from the opening index.

zf

Ringgit sees sharp plunge despite PM’s assurances

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http://www.malaysiakini.com/news/308520

13 August 2015

ZETI MAKES FIRST PUBLIC APPEARANCE IN WEEKS!

她終於在媒體前露面了! (不斷更新)
http://www.chinapress.com.my/node/645787

‪#‎今日中國報‬

She finally appeared in front of the media! (Continually updated) http://www.chinapress.com.my/node/645787 # China today newspaper

12:37PM Aug 13, 2015

By Al-Zaquan Amer Hamzah, Reuters

Bank Negara: No need to peg ringgit

Zeti: No need to peg ringgit

zx

Malaysia’s central bank does not see a need to peg the ringgit to any other currency, governor Zeti Akhtar Aziz said.

“I want to emphasise that we do not want to peg the currency,” Zeti told reporters. “We’ve moved on from capital controls,” she added.

The ringgit has fallen 12.32 percent this year, making it one of the worst performing Asian currencies.

Reuters

http://www.malaysiakini.com/news/308408

“匯率料續波動”…我的令吉怎麼辦?
http://www.chinapress.com.my/node/645792
‪#‎今日中國報‬

國行銀行總裁丹斯里哲蒂博士宣佈,礦業與建築業帶動,加上私人領域需求推動下,我國第2季經濟成長4.9%…
chinapress.com.my

Zeti not quitting, will complete term in 2016

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Bank Negara governor Zeti Akhtar Aziz said she will not resign amidst speculation that she is under probe.

Speaking to reporters today, Zeti said she will complete her five-year term, which ends in 2016.

“I certainly will remain in office until my term ends,” she said during a press conference today to announce second quarter GDP figures.

http://www.malaysiakini.com/news/308409

我絕不會辭職……
http://www.chinapress.com.my/node/645789
‪#‎今日中國報‬

I will never resign … … http://www.chinapress.com.my/node/645789 # China today newspaper
辭職謠言滿天飛,國行總裁哲蒂今天在國行記者會上公開粉碎謠言,堅稱絕對不會辭職……
chinapress.com.my
 —

Zeti: probe done, findings to be handed to AG

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Bank Negara governor Zeti Akhtar Aziz today announced that the central bank has completed its investigation into state-owned 1MDB.

She added the investigation papers have been handed to attorney-general Mohamed Apandi Ali this week.

http://www.malaysiakini.com/news/308413

TRADING ECONOMICS

Malaysian Dollar 1972-2015 | Data | Chart | Calendar | Forecast | News

The USDMYR traded at 3.98 MYR on Wednesday August 12, according to interbank foreign exchange market quotes. The Malaysian Dollar averaged 2.90 from 1972 until 2015, reaching an all time high of 4.71 in January of 1998 and a record low of 2.10 in October of 1978.

zzz

http://www.tradingeconomics.com/malaysia/currency

12 August 2015

CHANNELNEWSASIA

Malaysian ringgit slumps to weakest level in 17 years

The ringgit closed near 4.03 to the US dollar on Wednesday (Aug 12), down 1.36 per cent on the day and more than 20 per cent over the past year, according to Bloomberg News.

http://www.channelnewsasia.com/news/business/international/malaysian-ringgit-slumps/2045912.html?cid=twtcna

The falling Ringgit has company!

Bursa Malaysia falls 30 points

Bursa Malaysia falls 30 points

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Shares on Bursa Malaysia continued to fall at mid-afternoon today on persistent selling pressures across-the-board, particularly in the heavyweights, dealers said.

At 3.00 pm, the key index, FTSE Bursa Malaysia KLCI (FBM KLCI), fell 30.28 points to 1,606.43 points.

Market breadth was negative with losers thumping gainers by 937 to 66 while 142 counters were unchanged, 646 untraded and 12 others suspended.

Turnover stood at 1.56 billion shares worth RM1.23 billion.

On the scoreboard, the FBM Emas Index fell 262.30 points to 10,993.30, FBMT100 Index slipped 235.11 points to 10,730.51 and FBM Emas Syariah Index declined 263.95 points to 11,428.94.

FBM Ace decreased 316.75 points to 5,442.63 and the FBM 70 tumbled 378.92 points to 11,712.96.

Sector-wise, the Finance Index fell 386.25 points to 14,318.96, Plantation Index eased 65.54 point to 7,089.13 and the Industrial Index slid 21.60 points to 3,110.93.

– Bernama

http://www.malaysiakini.com/news/308314

RING RING!!! More danger ahead…down a slippery slope!

Ringgit falls below 4 per US dollar for first time since 1998, weakens further against Singapore dollar

Ringgit also weakens against currency – now at about 2.84 to Singdollar

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KUALA LUMPUR (BLOOMBERG, REUTERS) – Malaysia’s ringgit weakened beyond the psychologically important 4 per US dollar level for the first time since 1998 as investors flee the country’s assets after China’s shock devaluations and amid a slowing economy and controversy over finances linked to Prime Minister Najib Razak.

The ringgit tumbled more than 1 per cent to 4.0025 a US dollar as of 11.02am in Kuala Lumpur, according to prices from local banks compiled by Bloomberg. The Malaysian unit was trading down 1.1 per cent to 4.0040 to the US dollar as of 0335 GMT (11.35am in Singapore), its weakest since Sept 1, 1998.

The ringgit also lost ground against the Singapore dollar, which was itself hit by China’s second yuan devaluation on Wednesday (Aug 12). The Malaysian currency was trading at 2.84 to the Singdollar at about 11.45am, down from its close at 2.82 on Tuesday.

China’s surprise devaluation of the yuan has lumped more pressure on the ringgit on speculation policy makers will favor weaker exchange rates to prop up faltering exports. The ringgit has lost about 20 per cent in the past 12 months in Asia’s worst performance.

http://www.straitstimes.com/business/economy/ringgit-falls-below-4-per-us-dollar-for-first-time-since-1998

RING RING!!! More danger ahead…down a slippery slope!

Ringgit falls through RM4 to US$ barrier |

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The ringgit fell through the RM4 to one US dollar barrier today, going as low as 4.0035 to the greenback at 9.35am, according to Bloomberg.

However, it went up again slightly shortly after, and is currently hovering at about RM3.99 to the dollar as of 9.50am.

This is the lowest the ringgit has fallen since the 1997 Asian financial crisis.

http://www.malaysiakini.com/news/308253

Welcome to the reincarnation of 1997. #4.0

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WHO WILL TURN OUT TO BE RIGHT?

1. Michael Plummer, Johns Hopkins University’s Eni Professor of International Economics, said that the Ringgit could fall to RM4 against the US$.

2. Shan Saeed, chief economist of IQI Group expects the Ringgit to strengthen against the US$ this year, to RM3.40-3.60.

BREACHED!! RM4.0250 to US$1 Moments Ago … Congrats Malaysia

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Even if the Ringgit doesn’t fall to RM4 against the US$, I consider Michael Plummer, Johns Hopkins University’s Eni Professor of International Economics, the winner. RM3.974 is close enough to RM4.

Ringgit continues to slide, hits RM3.97 mark

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The ringgit is inching closer towards RM4 to US$1 as foreign banks continue to offload the local note.

As of 2.30pm, Bloomberg’s spot exchange website showed that the ringgit was being traded at RM3.9725 to US$1.

Earlier this morning, Bernama reported that the ringgit was quoted at 3.9330/9380 against the greenback from 3.9270/9300 at 5pm yesterday.

“The ringgit continued to be pressured by a lack of domestic leads and falling crude oils.

The ringgit, which breached the 3.93 level per dollar for the first time since the Asian financial crisis 17 years ago, also traded lower against a basket of major currencies.

It depreciated further against the Singapore dollar to 2.8424/8481 from 2.8305/8349 yesterday and traded lower against the yen at 3.1525/1572 from 3.1492/1523.

The local note eased against the pound sterling to 6.1280/1374 from 6.0755/0809 and weakened against the euro at 4.3314/3377 from 4.3056/3100 previously.

According to Reuters, the continued devaluation of the Ringgit could be linked to China’s decision to devalue the yuan.

http://www.malaysiakini.com/news/308118

5 August 2015

Money changers in Malaysia stop stocking up on US dollars due to high exchange rate

Money changers in stop stocking US as slides to pre-peg lows

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JOHOR BARU (THE STAR/ASIA NEWS NETWORK) – Money changers in Johor Baru have temporarily stopped stocking up on United States dollars because the exchange rate is too high and it is too expensive.

Presently the exchange rate is RM3.87 for every US$1.

A check by The Star showed that most money changers here had an average of US$1,000 in hand.

http://www.straitstimes.com/asia/se-asia/money-changers-in-malaysia-stop-stocking-up-on-us-dollars-due-to-high-exchange-rate

Malaysian Insider

JB money changers not replenishing US dollars for now, says report

The Malaysian ringgit’s slipping value against the American currency has prompted some money changers in Johor Baru to stop stocking up on the US dollars, The Star reported today.

Checks by the paper in the city showed that businesses there had on the average some US$1,000 with them.

The exchange rate was pegged at RM3.87 for every US$1 yesterday.

A worker at a money changer outlet said they did not plan to replenish their US currency when stock ran out, as it was expensive.

“Although there is still demand, we are not planning to buy US dollars from the bank if our stock finishes,” the paper quoted Alice Chua as saying.

Another money changer said that not many wanted to buy the US dollar now, adding that they have temporarily stopped buying the currency from the bank.

An outlet manager said the low supply of the currency was also due to the off-peak holiday season.

“If there are more tourists, then our supply will increase because we rarely buy dollars from the bank,” he reportedly said.

– See more at: http://www.themalaysianinsider.com/malaysia/article/jb-money-changers-not-replenishing-us-dollars-for-now-says-report?utm_source=twitterfeed&utm_medium=twitter#sthash.p2dOTnoW.dpuf

20 June 2015

THE CONTINUING DECLINE OF THE RINGGIT

Dr Mahathir was blamed for the fall of the Ringgit!

Ahmad Maslan claimed he had been briefed by Bank Negara that Mahathir was among three reasons for the ringgit slump, the other two other factors being uncertainties over the interest rates in the US and the fall in commodity prices including oil prices.

However, Bank Negara has said that the ringgit crash is due to global and domestic developments that have nothing to do with politics. It will never be drawn into any political agenda and will focus on its mandate to maintain monetary and fiscal stability.

Malaysiakini

Jun 20, 2015

Malaysiakini

MP: Bank Negara proved Ahmad Maslan a liar

Bank Negara’s move to exonerate former prime minister Dr Mahathir Mohamad over the ringgit slump showed that Deputy Finance Minister Ahmad Maslan had been lying to the rakyat, said PAS’ Pokok Sena MP Mahfuz Omar.

“The official statement by Bank Negara about the fall in the value of the ringgit proved that Malaysia had been lied to by Ahmad Maslan,” he said in a statement today.

Ahmad had accused Mahathir, who had relentlessly criticised Prime Minister Najib Abdul Razak for 1MDB’s massive RM41.8 billion debt, as the reason why the ringgit was performing poorly.

This prompted Bank Negara to issue a statement, saying that the ringgit crash was due to global and domestic developments that had nothing to do with politics

http://www.malaysiakini.com/news/302526

Malaysiakini

Jun 18, 2015

Malaysiakini

Bank Negara exonerates Dr M over ringgit slump

Bank Negara has refuted recent media reports blaming former premier Dr Mahathir Mohamad’s criticisms of the Najib-administration for the ringgit slump.

In a press release today, Bank Negara said the current volatility of the Ringgit was caused both global and domestic developments, which does not involve politics.

“Global developments would include the investor expectations relating to monetary policies of major central banks and the trends in crude oil and gas prices.

“Domestic factors include concerns about government linked entities and ratings related issues.

“While external developments are beyond the control of any open economy, every effort needs to be undertaken to bring about resolution to the domestic issues that confront our economy,” said the central bank.

Noting that Malaysia has sound economic fundamentals and growth prospects, the central bank said the performance of the ringgit will be stable once these issues are resolved.

Was Ahmad Maslan lying?

Bank Negara added it will never be drawn into any political agenda and will focus on its mandate to maintain monetary and fiscal stability.

Although Mahathir was never named in the press release, it was clear that Bank Negara was referring to Deputy Finance Minister Ahmad Maslan’s recent attempt to pin blame on the former premier.

http://www.malaysiakini.com/news/302340

Malaysiakini

Jun 14, 2015

Malaysiakini

Ahmad Maslan blames Dr M for ringgit’s slump

The slump of the ringgit to its lowest level in nine years has been blamed on former prime minister Dr Mahathir Mohamad’s criticisms of the prime minister.

According to Umno-owned Utusan Malaysia’s weekend edition today, Deputy Finance Minister Ahmad Maslan blamed away the ringgit’s plummet to 3.73 against the US dollar this week.

“{…] Issues brought forward by Dr Mahathir and supported by certain groups are said to be the factor contributing to the shrinking of the ringgit of late,” Mingguan Malaysia quoted Ahmad saying.

http://www.malaysiakini.com/news/301778

Vigilantes catch 4 men with forged RM100 bank note

In Kuala Selangor, a car stopped at a petrol station near Taman Sejati in Ijok. One gave the cashier a RM100 note and a RM5 note to pay for RM15 of petrol. When he saw that the cashier was suspicious, he ran back to his car, got in and drive off. However,they were stopped at shop lots nearby by a crowd, obviously alerted by the cashier, and overpowered.

http://www.thestar.com.my/News/Nation/2015/06/14/Four-get-burned-over-fake-notes/

在油站添油,企圖用假鈔結帳,結果被識穿,遭業者窮追不捨,最終被民眾合力逮捕… http://bit.ly/1JN4mmZ

za

Though so much poorer, let’s have a laugh. Laughter is still free. No GST yet.

3m3 minutes ago

Aku bukan lah PM tapi Aku adalah RM

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11 June 2015

Seen long lines at money changers in Singapore? It’s because of the ringgit

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Singaporeans head to Malaysia for holidays as ringgit hits new low

Channel 8 reports: At least one travel agency says there has been a 10 per cent increase in tour bookings to Malaysia this June school holidays.

The ringgit stood at 2.78 against the Singapore dollar on Wednesday (Jun 10), as travel agencies reported a 10 per cent spike in bookings for Malaysia travel packages for the June holidays, as compared to last year. Travel agencies also reported that 15 per cent of the travellers made last-minute bookings for tours in Malaysia. “We have received an increase in enquiries on travelling to Malaysia. The number of tourists heading to Malaysia has increased 10 per cent. Most of them travel to Johor Bahru, Kuala Lumpur, Malacca, Penang, Langkawi and Kuching,” said Ms Rebecca Chia, marketing communications executive at Chan Brothers Travel. … Some money changers told Channel 8 that from end-May to June, the demand for ringgit doubled, as compared to April. Some money changers also reported that they ran out of the currency by early afternoon on Wednesday. Analysts have predicted that the ringgit could slide further to 2.8 against the Singapore dollar this month. However, they added that there could still be a possibility for a rebound and the exchange rate would not decrease drastically in near future, depending on the performance of the greenback and oil prices. http://www.channelnewsasia.com/news/singapore/singaporeans-head-to/1905842.html?cid=twtcna

10 June 2015

The plunging Ringgit makes the Tourism Minister ‘happy’. I suppose it’s like a Jual Murah for his clients, the tourists. Everything is cheaper.

Malay Mail Online

Nazri says a ‘happy man’ over plummeting ringgit

BY MELISSA CHI

KUALA LUMPUR, June 10 — While Malaysians are gnashing teeth over the shrinking value of the ringgit, Tourism Minister Datuk Seri Nazri Aziz said he is a “happy man” as the cheaper Malaysian currency will be a boost to tourism here.

He said foreign tourists especially from Europe will feel “like a rich man” owing to the exchange rate of the ringgit. “One of the few people who are happy that the ringgit has gone down is me because when the ringgit is low, tourists can really stretch their euros, their pounds and things become cheaper here. “Certainly they will feel really like a rich man.

He also said Malaysians will also be more likely to choose local holidays over travel abroad due to the weaker value of the ringgit versus the pound sterling, for example. This will again boost tourism, Nazri said when reiterating his elation.

See more at: http://www.themalaymailonline.com/malaysia/article/nazri-says-a-happy-man-over-plummeting-ringgit?utm_medium=twitter&utm_source=twitterfeed#sthash.zRQxNIgB.dpuf

Finance Ministry: Ringgit doing well, regionally

The ringgit remains the best performing currency in the region, despite depreciating against the US dollar since September last year, the Finance Ministry says.

IF IT IS TRUE, WHY DID THE RINGGIT HIT SUCH A LOW AGAINST THE SINGAPORE DOLLAR? Isn’t Singapore IN THE REGION?

4m4 minutes ago

1 SGD = 2.77 Ringgit wOw

Finance Ministry: Ringgit doing well, regionally |

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The ringgit remains the best performing currency in the region, despite depreciating against the US dollar since September last year, the Finance Ministry says.

In a written parliamentary reply on Monday to William Mawan Ikom (BN-Saratok), the Finance Ministry said the value of the ringgit increased by 3.1 percent against the dollar since April. It has also increased by between zero and 6.8 percent against regional currencies, the Finance Ministry said, without naming the other currencies. “The increase in the ringgit’s value was mainly due to an increase in global oil prices. “The ringgit’s value had also increased due to the fall in the US dollar’s value following market expectations that the US Federal Reserve would (reduce) interest rates to a more reasonable level,” the ministry reply states. Prior to this, it added, the fall in the ringgit’s value against the US dollar since September last year was not an isolated incident and was mostly driven by external factors.

http://www.malaysiakini.com/news/301297

Retweeted 104 times

Malaysia’s ringgit sinks to 9-year low vs. dollar; investors beginning to worry

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S$1 @ RM 2.70-2.72!!!

Many flock to money changers as dollar hits new high against

Published on Apr 16, 2015 5:54AM
BUSINESS has boomed for money changers in the last two days as the Singapore dollar rose to its highest level in recent memory against the Malaysian ringgit. One Singapore dollar could buy RM2.7234 yesterday – the weakest the Malaysian currency has been against the Singdollar since at least 1981.
A long queue of people, mainly wishing to buy ringgit, formed at Crante Money Changer in People’s Park Complex yesterday, where the rate was S$1 to RM2.696. Next door, Mr Muhamed Nasu, 41, co-owner of money changer Haji Rahmathullah Store, said he would bring in “a few hundred thousand” more ringgit today to cope with the demand.
The rate at his shop was S$1 to RM2.695 yesterday, slightly lower than the RM2.70 on Tuesday.

– See more at: http://www.straitstimes.com/news/business/markets/story/many-flock-money-changers-singapore-dollar-hits-new-high-against-ringgit#sthash.JAtAISlW.dpuf

Malaysia’s rose for a third week as oil rally offsets fed rate bets

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The ringgit was set for its best weekly run of gains since July as Brent crude headed for the biggest five-day advance in six weeks. The commodity climbed 3.4 per cent from April 3, easing concern that the government’s finances will deteriorate. The halving in the oil price since June has made the ringgit Asia’s worst-performing currency in the past three months. “The ringgit is performing better compared to its regional peers this week partly on account of a slight recovery in oil,” said Mr Khoon Goh, Singapore-based senior foreign-exchange strategist at Australia & New Zealand Banking Group. “There is also likely some position adjustment as the market had been bearish on the ringgit for a while.”

http://www.todayonline.com/business/ringgit-gains-most-asia-oil-rally-offsets-fed-rate-bets

The Fed has kept its federal funds rate target at a record low of zero to 0.25% since December 2008.

Free Malaysia Today

Ringgit likely to rise 3.40 against US dollar

March 24, 2015

The US job market is still weak and the confidence level in the economy is low and Washington is unlikely to increase rates this year, says economist.

KUALA LUMPUR: The ringgit is expected to strengthen further against the US dollar to between 3.40 and 3.60 this year on expectations the US Federal Reserve will not increase interest rates this year, says an economist. The ringgit will touch that comfort level between September and November, said Shan Saeed, chief economist of IQI Group, a property and investment company operating and advising in Malaysia, Singapore, Hong Kong, the United Kingdom, the United States and Dubai. “Looking at the way things are shaping up in the US, the job market is still very soft and the confidence level in the US economy is still very weak. “I don’t think Federal Reserve Chair Janet Yellen would increase the interest rates this year, but might in the second quarter of 2016. “Yellen will continue to test the water, sending signals to gauge what the market actually thinks about the interest rate hike,” he told Bernama in an interview here.

http://www.freemalaysiatoday.com/category/nation/2015/03/24/ringgit-likely-to-rise-3-40-against-us-dollar/

1. The Ringgit could fall to RM4 against the US$! 2. MALAYSIA AS A SHOPPING DESTINATION: CHEAPEST IN ASIA!

No. it’s not LELONG time, just the fact that the ringgit is so cheap, and getting cheaper….

Malaysia now Asia’s cheapest shopping destination due to weaker ringgit

PETALING JAYA – Malaysia is now Asia’s cheapest shopping destination due to the weaker ringgit to the dollar, according to Nomura Research. Nomura ASEAN property analyst Sai Min Chow said he expected the weak ringgit and relatively attractive pricing of goods and services in Malaysia to attract more visitors, especially for shopping in the next 12 months.
Sai, who authored the report, said prices in Kuala Lumpur were between 10 per cent and 20 per cent cheaper compared to other Asian cities. He said they had surveyed 10 items ranging from accommodation to entertainment in Hong Kong, Singapore, Tokyo and Kuala Lumpur.
“Even if we were to take into account the impending Goods and Services Tax in Malaysia, prices still look relatively cheap. The outlook for Malaysia’s retail market therefore remains positive,” he said.
Star

Saturday March 21, 2015 12:00:00 AM

RM4 to the dollar seen

Ringgit expected to weaken on expectation of US rate hike KUALA LUMPUR: The ringgit is expected to weaken to the 4.00-level versus the US dollar in the next six months as investors anticipate a hike in the benchmark US federal funds rate. The hike may come earlier than anticipated after recent indicators show growth has visibly strengthened in the world’s largest economy. Johns Hopkins University’s Eni Professor of international economics Michael Plummer said the greenback would continue to be exceptionally strong in the next few months on market anticipation of a rate hike by the US Federal Reserve. He told StarBizWeek on the sidelines of the 19th Asean Finance Ministers and Central Bank Governors Meetings that should the ringgit weaken towards the 4.00-level, there could be space for Bank Negara to intervene to stabilise the currency. “We are now at RM3.70 against the US dollar even before the US has increased the interest rates. The country has only spoken about increasing its rates, and when it does there is a possibility that the ringgit would tumble to 4.00 against the dollar,” Plummer said. His ringgit outlook echoes a recent report by Macquarie Research’s Asean economist PK Basu, who said the currency could fall to 3.95 to the US dollar by September before strengthening to 3.82 by year-end. Basu expects Bank Negara to cut the benchmark overnight policy rate (OPR) either in May or July and keep it at that level through 2016. http://m.thestar.com.my/story.aspx?hl=RM4+to+the+dollar+seen&sec=business&id={DFF12091-28AC-48AE-ABC8-3A7396D1B1BD}

Ringgit falls for 3rd week on Fitch downgrade risk

Malaysia’s ringgit retreated for a third week as Fitch Ratings said it would probably downgrade the nation and as the price of crude oil slid to a six-year low. Three-year government bonds climbed for a fifth week as a report Friday showed the inflation rate is the lowest since 2009. Fitch is more likely than not to lower Malaysia’s rating due to a worsening trade surplus and concerns about a state investment company’s ability to pay its debts, Andrew Colquhoun, head of Asia Pacific sovereign ratings, said in a March 18 interview. … The ringgit depreciated 1.1% in the past five days to 3.7255 a US dollar as at 12.18pm in Kuala Lumpur, according to data compiled by Bloomberg. The currency weakened 0.5% Friday and reached a six-year low of 3.7273.

http://www.kinibiz.com/story/markets/155164/

Fake news about fake RM100 banknote…

Malay Mail Online

Doctored photo of fake IGP news an ‘act of malice’, police say

By Ida Lim

The doctored photograph which shows the Inspector-General of Police warning that those who shared pictures of a fake RM100 would be arrested.The doctored photograph which shows the Inspector-General of Police warning that those who shared pictures of a fake RM100 would be arrested.

KUALA LUMPUR, March 12 — At first glance, it looks like a screenshot of a Malay Mail Online news story about the Inspector-General of Police warning that those who shared pictures of a fake RM100 would be arrested. A closer look reveals the photo is doctored. “This is a deliberate act of malice and done by someone who is irresponsible, immature and spiteful. “Both the IGP and Malay Mail Online are victims of malicious intent, aimed at causing harm to their reputation and credibility,” Bukit Aman’s head of corporate communications ACP Datin Asmawati Ahmad said in a statement tonight. The doctored photograph of the fake news report has gone viral on social media.

http://www.themalaymailonline.com/malaysia/article/doctored-photo-of-fake-igp-news-an-act-of-malice-police-say?utm_medium=twitter&utm_source=twitterfeed

After learning the technique from a friend, he produced the forged RM100 notes and started spending!

theSundaily

Countractor jailed for using counterfeit currency notes

KUALA LUMPUR: A contractor was sentenced to seven months’ jail by the Sessions Court here today for using counterfeit currency notes to pay for purchase of used clothing. Judge Norsharidah Awang handed down the sentence on Mohd Ismail Abd Kadir, 32, who changed his plea to guilty when the charge was read to him for the second time last Monday and today was set for sentencing. … Mohd Ismail was charged with using as genuine two pieces of counterfeit RM100 currency notes to pay for his purchase of a jacket and trouser at a bundle shop in Downtown Cheras here at 12.15am last Jan 17.

http://www.thesundaily.my/news/1341233

SATURDAY, 7 FEBRUARY 2015

YOU CAN FOOL US BUT NOT THE BANK DEPOSIT MACHINES!

“The suspects would mix the real currency note with the fake ones to deceive their victims, when only when the victim tries to deposit the bank notes that they would know the notes were fake….the sellers would try to deposit the cash into a deposit machine, but only a few of the notes would be accepted. The fake ones would normally get stuck in the machine.”

Police have arrested three men in connection with the use of fake Ringgit notes.

NST

KUALA LUMPUR: Three men, who targeted online buyers and sellers of second hand goods (mobile phones) using fake currency were arrested by the police in two raids at Taman Midah and Taman Desa on Jan 24. It is learnt that the men preyed on online sellers, mostly those selling high-end goods and mobile phones who advertise through online stores. City deputy police chief, Datuk Law Hong Soon said the men, all aged between 30 and 60 were caught red handed in the midst of a cash-on-delivery transaction of a phone opposite a bank in Taman Midah, Cheras. “Police seized 64 fake RM100 and two RM50 banknotes from the suspects at the scene,” he said adding that they are responsible for printing and using the fake notes to make their purchases. … He said modus operandi of the trio was to prey on customers from any online shopping or auction sites, then set an appointment with the seller to meet and exchange the purchased item with cash. “The suspects would mix the real currency note with the fake ones to deceive their victims, when only when the victim tries to deposit the bank notes that they would know the notes were fake. … Law said police had received four reports on similar cases with losses totalling to RM4,600 which were allegedly committed by the suspects, mostly in Cheras area.

http://www.nst.com.my/node/72027

偽鈔集團三人組利用高品質工具自製仿真度極高的100令吉面鈔,透過網購電子產品時,再通過銀行自動存款機使用偽鈔付款。由於偽鈔與真鈔質素太接近,目前市內至少兩家商業銀行被揭發存款機“接受”偽鈔,因此警方相信市場上已有…..http://bit.ly/16ydM4g

zz

【国内】 http://www.kwongwah.com.my/news/2015/02/06/73.html 以A4纸做成的伪钞几可乱真,颜色鲜艳,浮印明显,部份可以轻易存入银行存款机,相信只有凭手感和紫外线伪钞侦测机来分真假。 “伪钞专家”5个月前出狱后结伙干案,通过网络约见事主购买手机时以伪钞付款,结果不到一个月随同2名同党被捕。随着嫌犯落网,警方宣布侦破至少10宗伪 钞案,损失约1万6000令吉,目前警方追查部分相信流入市场的100令吉伪钞,但警方劝请公众放心,因为只是一小部分。

zz

FRIDAY, 9 JANUARY 2015

More fake notes, this time fake RM20 notes. In Bukit Mertajam.

大山腳及北海一帶巴剎出現20令吉偽鈔,上週起接連有十多人接獲。馬華檳州聯委會呼吁商家及民眾在收取20令吉時提高警惕,以免中招。http://bit.ly/1sbdU3v

zt

MONDAY, 5 JANUARY 2015

Night market traders, beware of fake RM100 notes!

【北马】 100令吉伪钞广泛流通 夜市商贩要小心

http://www.kwongwah.com.my/news/2015/01/04/106.html 100令吉伪钞在夜市场广泛流通,商贩受促提高警惕。

za

TUESDAY, 6TH JANUARY 2015

You read that the ringgit has fallen to its lowest since 2009 but that’s nothing compared to the fall of the Euro to its lowest since 2004.

Everything except currencies pegged to the US dollar is falling to new lows.

RT : Ringgit falls to lowest since 2009 on oil price plunge

The euro has tumbled to a 9-year low against the highflying dollar

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Euro Tumbles to Nine-Year Low

Currency Hurt by Greek Worries, Speculation About ECB Stimulus

The euro tumbled to a nine-year low against the highflying dollar Monday, struck by nerves over Greek politics and steadily building expectations that the European Central Bank will soon beef up its stimulus program.

http://www.wsj.com/articles/euro-falls-to-nine-year-low-1420416904?mod=e2tw

MONDAY, 5TH JANUARY2015

Night market traders, beware of fake RM100 notes!

【北马】 100令吉伪钞广泛流通 夜市商贩要小心

http://www.kwongwah.com.my/news/2015/01/04/106.html 100令吉伪钞在夜市场广泛流通,商贩受促提高警惕。

za

On Tuesday, 14 October 2014, I posted:

BEWARE OF FAKE RM100 NOTES!

THE LADY WHO RUNS A LITTLE STALL AT PASAR MALAM IN MEDAN IPOH WAS CHEATED! So sad!

ACCORDING TO A GUANG MING DAILY REPORT, FAKE CURRENCY IS A SERIOUS PROBLEM.

巴生偽鈔活動依然猖獗,印製偽鈔的不法之徒近日利用無知孩童當“替死鬼”,教唆小孩用100令吉偽鈔到商店購買一些便宜的東西,讓孩童得以從中換取真鈔,而在當地收租的47歲業主王群孟及50歲業者莊玲絲日前在收租時,就曾收到百元偽鈔。38歲便利店業者童家豐說,他的店先後於10月8日、24及29日收到偽鈔,其中兩次是沙巴籍小童持偽鈔來購物。“前兩次是侄兒看店,因分不清真假鈔而中招,第三次我當場逮到一名小童使用假鈔,但因對方年紀小而放過他。”

za

It seems that young foreign children are being used to buy things with fake RM100 notes. Hundreds of these fake notes have been detected. Rent has been paid with fake notes.

Tuesday, 14 October 2014

BEWARE OF FAKE RM100 NOTES!

THE LADY WHO RUNS A LITTLE STALL AT PASAR MALAM IN MEDAN IPOH WAS CHEATED! So sad!

Someone gave her a forged RM100 note. It was dark and there were several customers, so she didn’t look closely at the RM100 note.

When she went to buy some numbers at the ENE (Empat Nombor Ekor), she was informed that she had a forged note.

Here’s the RM100 note.

The two lines in the center are missing.

14 Oct 2014 001

The colors started to run…

14 Oct 2014 002

Retweeted 54 times

S’poreans lapping it up in JB with weaker ringgit

S’poreans ‘enjoying’ weaker ringgit in JB

The Star/Asia News Network
JOHOR BARU – Singaporeans are benefiting the most from the weaker ringgit as they can shop and dine in the city without feeling as much strain on their wallets as they would in the republic. Shopping complexes and hypermarkets here are enjoying brisk sales, especially on weekends and long public holidays when many Singaporeans patronise the outlets. Among the popular ones are JB City Square, Angsana Mall, KSL City, Perling Mall, Plaza Pelangi and AEON Bukit Indah.

In Malaysia, it is, “Sorry, no RON 97 left.”

IN SINGAPORE, IT IS, “SORRY, NO MALAYSIAN RINGGIT LEFT.”

It was not only money changers who were low. Banks also reported facing ringgit shortages with some bank branches being forced to turn customers away as well.

The Real Singapore

LOCAL MONEY CHANGERS RUN OUT OF RINGGIT AS SINGAPOREANS RUSH TO BUY WHILE RM IS WEAK

Several Money Changers in Singapore have reported running out of Ringgit stocks as they were caught off guard by the sudden and sustained weakness of the Malaysian currency this past week. Consumers who frequently visit Malaysia rushed to take advantage of the low rates by changing large amounts of money, leaving many money changers here with shortages. The Secretary of the Money Changers Association of Singapore explained that the Ringgit often sees large demand here close to Chinese New Year and they often order more in to deal with the demand. However, the Ringgit hit a 10-month low against the Singapore dollar on Monday and global sentiments about falling fuel prices have also been expected to hit Malaysia, a oil exporter hard, have caused an unexpected spike in demand now.

http://therealsingapore.com/content/local-money-changers-run-out-ringgit-singaporeans-rush-buy-while-rm-weak

Ringgit to see largest two-day loss since 1997-98

1 December 2014: Latest Exchange Rate: Sing$1@RM2.63143 1 December 2014: Latest Exchange Rate: US#1@RM3.43

The ringgit may weaken to US$1@RM3.45 and the next target would be US$1@RM3.47-RM3.50.

Top news story

Ringgit to see largest two-day loss since 1997-98

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..
Malaysia’s ringgit was set today to suffer its biggest two-day slide since the 1997-98 Asian financial crisis as tumbling oil prices threatened to undermine the oil exporter’s economy. The ringgit fell 2.4 percent to 3.4300 per dollar as of 0653 GMT (4.53pm) from Thursday’s close of 3.3465, according to Thomson Reuters data. Earlier today, the Malaysian currency slipped as far as 3.4375, its weakest since February 2010. That would be the largest two-day depreciation since July 1998, the data showed.
 http://www.malaysiakini.com/news/282178

Malaysia ringgit to see largest two-day loss since 1997-98 crisis as oil slides

Retweeted 36 times

Malaysia heads for biggest drop since 1997-98 Asian financial crisis as oil slides

Published: 3:36 PM, December 1, 2014

SINGAPORE —  Malaysia’s ringgit was set to suffer its biggest two-day slide since the 1997-98 Asian financial crisis today (Dec 1) as tumbling oil prices threatened to undermine the oil exporter’s economy.

The ringgit fell 2.4 per cent to 3.4300 per dollar as of 0653 GMT (2.53pm, Singapore time) from Thursday’s close of 3.3465, according to Thomson Reuters data. Earlier today , the Malaysian currency slipped as far as 3.4375, its weakest since February 2010.

That would be the largest two-day depreciation since July1998, the data showed. In 1998, Malaysia fixed the ringgit at 3.8000 and abandoned the peg in July 2005. http://www.todayonline.com/singapore/malaysia-ringgit-see-largest-two-day-loss-1997-98-crisis-oil-slides

Nurse gets 8 years’ jail for using counterfeit money

KOTA BAHARU: A hospital nurse was sentenced to eight years’ imprisonment by the Sessions Court here today for using 10 pieces of counterfeit RM100 as genuine.

Nor Aziarina Ismail, 30, pleaded guilty to committing the offence in front of a fast food restaurant at Wakaf Che Yeh here at 9pm on Nov 22, 2013. …

According to the facts of the case, she had used the fake notes totaling RM1,000 to pay for an iPad that she bought from one Abdul Mu’iz Ahmad, 20.

Judge Mohd Yusoff Yunus ordered the sentence to run from the date of her arrest on Dec 6 last year.

On Tuesday, 14 October 2014, I posted:

BEWARE OF FAKE RM100 NOTES!

THE LADY WHO RUNS A LITTLE STALL AT PASAR MALAM IN MEDAN IPOH WAS CHEATED! So sad!

ACCORDING TO A GUANG MING DAILY REPORT, FAKE CURRENCY IS A SERIOUS PROBLEM.

巴生偽鈔活動依然猖獗,印製偽鈔的不法之徒近日利用無知孩童當“替死鬼”,教唆小孩用100令吉偽鈔到商店購買一些便宜的東西,讓孩童得以從中換取真鈔,而在當地收租的47歲業主王群孟及50歲業者莊玲絲日前在收租時,就曾收到百元偽鈔。38歲便利店業者童家豐說,他的店先後於10月8日、24及29日收到偽鈔,其中兩次是沙巴籍小童持偽鈔來購物。“前兩次是侄兒看店,因分不清真假鈔而中招,第三次我當場逮到一名小童使用假鈔,但因對方年紀小而放過他。”

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It seems that young foreign children are being used to buy things with fake RM100 notes. Hundreds of these fake notes have been detected. Rent has been paid with fake notes.

Tuesday, 14 October 2014

BEWARE OF FAKE RM100 NOTES!

THE LADY WHO RUNS A LITTLE STALL AT PASAR MALAM IN MEDAN IPOH WAS CHEATED! So sad!

Someone gave her a forged RM100 note. It was dark and there were several customers, so she didn’t look closely at the RM100 note.

When she went to buy some numbers at the ENE (Empat Nombor Ekor), she was informed that she had a forged note.

Here’s the RM100 note.

The two lines in the center are missing.

14 Oct 2014 001

The colors started to run…

14 Oct 2014 002

THE RM1,000 AND RM500 BANK NOTES

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malaysianbanknotes.blogspot.com

DID YOU EVER HAVE A RM1,000 BANK NOTE?

I HAD 3 RM1,000 and 1 RM500 BANK NOTES ONCE but for only 2 weeks. That was in 1987 when I had sold some shares and my remisier asked if I wanted cash instead of a cheque. She said they were BIG notes, and they were! Never having seen even one, I was keen. I brought them home to show my wife and three sons, and then locked them in my security box. Two weeks later, I used them to pay for shares.

A coffee shop man said that he hated those big notes. Why? A few regular customers would drink beer till late at night. Occasionally, one of them would hand him a RM1,000 note to pay for the beer, so he had to keep enough change on him, maybe Rm700. That made him nervous about being robbed. Most of the time, by 8.00pm, his wife would have gone home with the day’s collection, and he would be alone till 10.30 or 11.30pm, until the drinkers had all left, and he could lock up. He didn’t want to hold so much cash but he had had no choice.

From 1 July 1999, the Rm1,000 and RM500 bank notes are no longer legal tender.

Malaysian Banknotes

Sunday, July 3, 2011

In the recent answer given by the Deputy Finance Minister to the Parliament, he has pointed out that there are still 150,599 and 26,018 pieces of RM500 and RM1000 still have yet to be “recalled” by BNM. In other words, a total amount of RM75,299,500.00 of RM500 and RM26,018,000.00 of RM1000 have been ceased to be legal tender.
As of 30 January 2011, BNM has withdrawn 92.4% of RM500 and 99.4% of RM1000 note.

http://malaysianbanknotes.blogspot.com/2011/07/rm500-and-rm1000-note.html

This means that there are quite a number of these high denomination notes hidden somewhere.

If you came across one of those inside Grandma’s mattress, what should you do?

Take it to a Bank Negara branch and exchange it.

http://www.bnm.gov.my/index.php?ch=en_press&pg=en_press_all&ac=80&lang=en

—–

WHAT PROBLEMS DO YOU HAVE WITH THE NEW BANK NOTES?

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(http://sekupang.net/kromosomz/post/2012/08/08/New-Notes-for-Hari-Raya.aspx)

1. There was irritation with the RM20 note, and the irritation has remained. Shopkeepers and customers often mistook it for the RM10 note. Well, people adjust quickly, and now, as I hand it over, I always say, “This is a RM20 note.” The other person will look at it and confirm that it is RM20. Once, a hawker explained how he had mistaken it for RM10 at least three times. No mistake now.

2. The RM50 note can be mistaken for a RM1 note if it is among six or seven of the latter in the same compartment of your wallet. I was mildly surprised to discover that, instead of 3 RM1 notes, I had handed over 2 RM1 notes and 1 RM50 note. The hawker returned the RM50 and said with a smile that his noodles cost RM3, not RM52.

3. There were complaints that the new bank notes faded when left in the laundry, especially if a washing machine was used.

Read the report below:

Star

Monday February 8, 2010

All cleaned out after leaving wallet in the wash

PETALING JAYA: A mechanical engineer had RM200 literally “washed away” when the print on his new RM50 notes disappeared after he accidentally left his wallet in the laundry. Yeoh Jit Shiong, 25, was shocked to find that the damaged notes were almost unrecognisable on Saturday evening. What remained were the security threads and watermarks.

Faded notes: The four new RM50 notes that were decolourised after they were left in the washing machine by mistake.

“The printing was completely washed off, including the serial number. …

“With the serial numbers washed off, how am I going to take the notes back to the bank for an exchange?”

(http://www.thestar.com.my/story.aspx/?file=%2f2010%2f2%2f8%2fnation%2f5634765&sec=nation)

WHAT DO YOU DO WHEN IT HAPPENS TO YOU?

Star

Sunday October 21, 2012

Exchange badly damaged banknotes at BNM, public advised …

The public are allowed to exchange or deposit the unfit Malaysian notes at any branch of commercial banks and Bank Negara Malaysia’s regional offices and branches nationwide. Unfit banknotes that are damaged through use will be replaced with the equivalent value, subject to meeting specific conditions and criteria as described in the guidelines. In some cases, commercial banks may not be able to assess banknotes which are badly damaged due to fire, water, chemical or other causes. This may require further examination and valuation by the Central Bank. The public are advised to exchange these badly damaged banknotes for new ones at BNM’s headquarters and any of its regional offices in Penang and Johor Baru and branches in Kuala Terengganu, Kuching and Kota Kinabalu. The public can also send a request for exchange to BNM by attaching the unfit or mutilated banknotes to the following address: Jabatan Pengurusan dan Operasi Matawang, Bank Negara Malaysia, Jalan Dato’ Onn, 50480 Kuala Lumpur (u.p. Seksyen Perbankan dan Perkhidmatan Pelanggan).

http://www.thestar.com.my/story.aspx/?file=%2f2012%2f10%2f21%2ffocus%2f12205467

HAVE YOU GOT USED TO THE NEW COINS YET?

THESE COINS WERE ISSUED IN 2012.

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(http://www.nbc.com.my/blog/third-series-of-malaysian-new-coins-banknotes-in-2012/)

THE MAIN COMPLAINT was that they were so small compared to the existing coins, particularly the 59 sen coin.

Still, I am glad that the coins are smaller and thus, are lighter and take up less space in the pocket.

WHAT IF THE 50 SEN COIN IS EASILY MISTAKEN FOR THE 20 SEN COIN? You have only yourself to blame! LOOK before you hand it over.

—–

ARE YOU AWARE THAT MALAYSIA DID NOT ALWAYS USE THE RINGGIT? MALAYSIA’S CURRENCY WAS THE DOLLAR UNTIL THE RINGGIT WAS INTRODUCED TO REPLACE IT.

—–

REMEMBER THIS, THE ONE RINGGIT COIN?

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Coin: 1 Ringgit – Ringgit type (Malaysia) (1967~Today …colnect.com

This was Malaysia’s first and only one ringgit coin. It was introduced on 14 November 1993.We called it a ‘gold coin’ because of the yellow colour.

Counterfeiting of the coin was widespread.

On 7 December 2005, the 1 ringgit coin was demonetised and withdrawn from circulation.

…..

THIS WAS THE FIRST ONE DOLLAR COIN. See the $1 on the face? Note the year, 1971.

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Malaysia 1 Ringgit Coin dated 1971 (aUNC) (Penang, end time 7/27 …www.lelong.com.m …..

It was introduced on 1 May 1971. Several million of them were minted and put in circulation.

On 4 September 1989, the second one dollar coin was introduced. It still had $1 on the face but was smaller’.

The coin below was issued in 1992.

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1 Ringgit Malaysia 1989 Copper Nickel Coins « (H) Malaysia (1963 …blog.slcollectors.com

—–

Issuance of Commemorative Coins in Conjunction with the 50th Anniversary of the Formation of Malaysia

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Ref No : 09/13/07
Embargo : For immediate release
Issuance of Commemorative Coins in Conjunction with the 50th Anniversary of the Formation of Malaysia

Bank Negara Malaysia is issuing commemorative coins in conjunction with the 50th Anniversary of the Formation of Malaysia. Malaysia Day is celebrated on 16 September every year to commemorate the establishment of the Malaysian federation which comprises 11 states in Malaya and two states in Borneo, namely Sabah and Sarawak. Specifications of the commemorative coins are as follows: 1. Gold Commemorative Coin (proof) This proof coin is made of gold with 999.9 purity and weighs 7.96 grams. It has a face value of RM100 and will be sold at RM 1,800 a piece. The mintage quantity is 750 pieces. 2. Coloured Silver Commemorative Coin (proof) This is the first coloured coin issued by Bank Negara Malaysia. The coloured Jalur Gemilang is placed on the obverse side of this coin. This proof coloured coin is made of Fine Silver with 999 purity and weighs 31.10 grams. It has a face value of RM10 and will be sold at RM200 a piece. The mintage quantity is 10,000 pieces. 3. Nordic Gold Brilliant Uncirculated (B.U) Commemorative Coin The Nordic Gold (B.U) coin has a face value of RM1 and will be sold at RM10 each. The mintage quantity is 25,000 pieces. These commemorative coins are also available in a set of three (3) and a set of two (2). The set of three (3) consists of the gold, coloured silver and Nordic gold proof coins. It will be sold at RM2,100 per set with 500 sets available. The set of two (2) consists the coloured silver and nordic gold proof coins. This set will be sold at RM250 per set with 1,000 sets available. Detailed specifications of the coins are as per Appendix I.

Bank Negara Malaysia 16 September 2013

Bank…

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BNM negara telah mengeluarkan duit syiling sbg tnda memperingati hari mlysia..

Bangkok Post Logo

Warning over fake ringgit in South

b The Malaysian ringgit is the most commonly faked currency in Southern Thailand. (Bloomberg file photo)

The Thai Association of Foreign Exchange is warning the public about the widespread of use of fake foreign currencies in Thailand, particularly in the southern provinces, where Malaysian ringgit is the most commonly faked note.

Chanaporn Poonsuphirun, the association’s president said the counterfeit ringgit notes are very realistic, so difficult to differentiate from the real thing. She said fake ringgit notes are being discovered from Chumphon down to the border with Malaysia, due to high numbers of Malaysian visitors to Southern Thailand. http://www.bangkokpost.com/news/local/368332/the-thai-association-of-foreign-exchange-cautions-over-fake-notes

bMORE COUNTERFEIT RM100 NOTES: IN SARAWAK Star

Thursday January 3, 2013 MYT 3:30:05 PM

Police warn of fake RM100 notes in circulation in Miri

MIRI: The police Thursday warned of the circulation of fake new RM100 notes in the city following three reports made on the matter, including one by a bank. Miri police chief ACP Mun Kock Keong said the two other reports were made by individuals who also found the notes to be fake due to the poor paper quality and lack of security features. “Based on our initial investigation, all the three fake notes have the same serial number, AA7825588,” he said. Mun warned members of the public to be extra cautious when receiving new RM100 notes. “They can check the quality of the paper by touching it because the new notes will not wrinkle easily compared to poor quality paper. “If unsure, please refer to the nearest Bank Negara office,” he said. – Bernama

Police warn of fake RM100 notes in circulation in Miri —————————————————————————————– Sundaily

Woman charged with possession of counterfeit notes

Wednesday, November 28, 2012 – 14:24
Location:
KUALA LUMPUR

A 58-YEAR-OLD unemployed woman was charged in the Sessions Court yesterday with possessing counterfeit money. Mariam Ling Abdullah, of Pandan Indah, is accused of carrying 10 pieces of fake RM100 notes at the Cheras police headquarters on Nov 1 at 7.05pm. She pleaded not guilty to the charge under Section 489 (c) of the Penal Code… Woman charged with possession of counterfeit notes ————————————————————————— A senior police officer, who requested anonymity, said that people could detect the fake notes by using UV (ultraviolet) money detectors, which are usually utilised by the banks and commercial centres. Star

  • 9 Nov 2012
  • The Star Malaysia
  • By R.S.N. MURALI murali@thestar.com.my

Fake RM50 and RM100 notes circulating in Malacca

MALACCA: Counterfeit ringgit notes are making the rounds in the state and have made victims of many traders here. They have reportedly been duped into accepting counterfeit RM100 and RM50 notes. Apparently, they have incurred losses of up to RM20,000 each since early this year when the fake notes first surfaced. In a recent case, a businessman in his late 40s from Masjid Tanah here had a police report lodged against him by his bank after he deposited RM13,000 into his account. The report on Nov 8 revealed that RM1,000 of the amount, which is in RM100 denominations, had the same serial numbers. Police found that the businessman was a loyal customer of the bank for many years, and this was the first time that he had inadvertently deposited counterfeit currency. Scores of convenience shops owners and staff in the state have also lodged reports after they received the notes from locals and tourists. Fake RM50 and RM100 notes circulating in Malacca —————————————————————————————- From Jeyasingam Veluppillai Bank Negara offers you a chance to look at some of the security features found in the currency of the country, and a quick view of how to detect a forged banknote.

Currency-Education-Program.pdf Currency-Education-Program.pdf 3738K   View   Download

———————————————————————————————————– —– NST 17 July 2012 | last updated at 10:53AM

New banknotes now in circulation

SUBANG JAYA: The new Malaysian banknotes went into circulation yesterday and shoppers at Mydin USJ were the first to get their change in the new notes.

.Mydin USJ cashier Norizan Abd Kadir with the new banknotes in Subang Jaya yesterday. Pic by S. Sugumaran

Beginning today, other supermarkets would have their cash machines filled with new banknotes, said a Bank Negara Malaysia officer here yesterday. The officer said the new banknotes would co-circulate with the existing ones, which remained as legal tender. The public will be able to obtain new banknotes through normal transactions. The new series come in denominations of RM1, RM5, RM10, RM20 and RM100, while the RM50 note has been issued since December 2007. The RM20 banknote is reintroduced and polymer substrate is used for the RM1 and RM5 notes. Read more: New banknotes now in circulation – General – New Straits Times http://www.nst.com.my/nation/general/new-banknotes-now-in-circulation-1.108582#ixzz20yer7J7I ———————————————————————————————————– The visually impaired can also identify and distinguish the different denominations by touch. NST 6 July 2012 | last updated at 08:50PM

Thumbs up for new banknotes

PETALING JAYA — Malaysians who saw the new banknotes unveiled by Bank Negara Malaysia (BNM) today have given their thumbs up, saying the design, colours, printing and artwork make them good-looking.”I really like their colours, they are attractive and reflect our country’s identity,” housewife Norlida Alwi told Bernama.Norlida, of Subang Jaya, was one of the first Malaysians to see the new banknotes when shopping at the Mydin hypermarket in Subang Jaya today.She said the orange RM20 notes are particularly attractive, besides being more convenient and saving space in her wallet.The depiction of Malaysia’s cultural, traditional and natural elements could also help foreigners know our country better, she added…………. Themed “Distinctively Malaysia”, the latest banknotes series draws its inspiration from the country’s diverse culture, heritage and nature, and uses the latest technology to enhance security features.These include shadow image, clear window, watermark portrait with pixel and highlighted numerals, colour shifting security thread, micro lens thread, perfect see-through register and coloured glossy patch.The visually impaired can also identify and distinguish the different denominations by touch.The new banknotes series comprises denominations of RM1, RM5, RM10, RM20 and RM100. The RM20 note is reintroduced in this new series, and polymer substrate is used for the RM1 and RM5 notes.

———————————————————————————————————-

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One Response to The Ringgit, Malaysia’s Currency…

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