Ringgit Rate

Anybody managed to buy RGT at fair rates this past few days when Spot RGT shoot up above 2.50? Best i got was 2.45 and one A*****LE from Amex at HV Circle Line Station even quoted me 2.40 &%$#%#*&^%(&^!!

titu

Now it's abt this price, CNY. Wait until cny over the rate will come back down

enwee wrote:

Now it's abt this price, CNY. Wait until cny over the rate will come back down

By right RGT should be somewhere around 2.49. The money changers always shift the goal post when rates goes against them. Most of the time when rates fluctuate to fast, they will tell you " NO STOCK !!!!!!" @#%$##@@%$^$ Furious because can see but cannot eat. Usually at this level, i buy and keep for my acroo the border plundering. ekekekek

Ya... The rgt rate in all money changer is very bad due to cny.

If possible you can exchange with friend first or try to wait it out after cny.

Happy cny in advance

I changed rgt at 2.38 in jb holiday plaza yesterday. The week before was still at 2.44, i guess we have to wait till after CNY before it will hit above 2.45.

kenneth18 wrote:

I changed rgt at 2.38 in jb holiday plaza yesterday. The week before was still at 2.44, i guess we have to wait till after CNY before it will hit above 2.45.

Yesterday the whole JB is 238....i drove pass several exchange and saw it.

I have some ringgit that would like to change to sgd...
I also love to have the exchange in my favour leh!!

How?

Tituman wrote:

Anybody managed to buy RGT at fair rates this past few days when Spot RGT shoot up above 2.50? Best i got was 2.45 and one A*****LE from Amex at HV Circle Line Station even quoted me 2.40 &%$#%#*&^%(&^!!

titu

Titu. How much you looking at ??

2.44 now in KL for most changers in BT Bintang

RM$241.50/S$100 today at CCK Nanayam Money changer.

Last Thursday, I got RM242 / S$100 (even though they displayed RM2.40) from the first R&R Money Changer at Second Link.

chien wrote:

Tituman wrote:

Anybody managed to buy RGT at fair rates this past few days when Spot RGT shoot up above 2.50? Best i got was 2.45 and one A*****LE from Amex at HV Circle Line Station even quoted me 2.40 &%$#%#*&^%(&^!!

titu

Titu. How much you looking at ??

Hi Chien, was expecting around 2.48-49 when spot is around 2.50 but looking at situations and feedbacks, looks like the money changers are making a killing here. Normally it should be trading around 100 basis points discount to the spot but ...... they are really squeezing us. Its ok, I still have "spares" as I usually buy sufficient amounts to feed my twice weekly trip for petrol across the border. Being an ex FX dealer, I just don't like being squeezed knowing where the spot rates were. Cheers guys. Happy New Year

titu

TDO wrote:

My wife changed Rm2.45 at Boon Lay Shopping Centre last Friday evening. I think it's the shortage of Rm during the CNY period that leads to this unreasonable exchange rate.

Last week I changed S$102 for RM250 in Singapore ...

Try these 3 places Woodlands HBD shopping area, Woh Hup Complex, Peoples Park complex
these places seem to provide better x change rates.

Me too! Just 2 days ago, change at M'sia custom building at only RM$2.40!!

Not sure if it's been said, but do NOT change in JB. The rate is always worse in JB than it is in Singapore. Change in SG.

Rate in KL not good as well ... below 2.4 in the 2 shopping centers I have seen so far

I suspect that it's tightly controlled in Malaysia.

Technospaz wrote:

I suspect that it's tightly controlled in Malaysia.

Think syndicate at play here. Shortage in Singapore..er...maybe, but Malaysia ..hmmm? I doubt that. Its their home currency, how to say there is not enough cash to go around...

titu

So would it be a good time to change ringgit to sing dollar?

JonL_TK wrote:

So would it be a good time to change ringgit to sing dollar?

It was better before and I've been told that the SG is weakening.

JonL_TK wrote:

So would it be a good time to change ringgit to sing dollar?

If they quote you around 2.40 go ahead man. Opportunity knock but once. Try to do it this way. Ask them what is the rate for buying RGT. IF they quote you low, just pretend..wah so low ahh... then I sell you RGT you give what rate?? Hope one kuai lan one quote you low also then YOURRRRSSSSS.......... That day at Amex counter the girl yaya papaya. Quote me both ways at 2.40 knowing I don,t have RGT to sell to her. Damm, if have sell her cash 5 Million and go and cover spot at 2.50. Make half million RGT if thats the case. Don,t have to work for a year..kekekekke Wish during my dealing days got such stupid spread differential.

JonL_TK wrote:

So would it be a good time to change ringgit to sing dollar?

The spread is elephant Jon... heard about 300 pips between bid/offer... And the problem is after buying Sgd whether can change back...

Think we can do a deal online here... who wanna sell their ringgit to our bros here who need it ? we fix at mid rate la....


p/s: imho sgdmyr will drop back eventually...