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 Ringgit Rate

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Tituman
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PostSubject: Ringgit Rate   Wed Jul 31, 2013 6:45 pm

Again with the RGT at this rate around 2.55 per Sing dollar, the Money Changers again turned 'smelly'. They only offer from 2.49 to 2.50 last checked. Any body managed to get better rate above 2.50 ??? My best was 2.4980 when the spot was 2.54.
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youming
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PostSubject: Re: Ringgit Rate   Wed Jul 31, 2013 7:50 pm

Today afternoon at China Town all showed at 2.4920.
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wtapz
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PostSubject: Re: Ringgit Rate   Wed Jul 31, 2013 9:17 pm

Was told 2.49 this afternoon too... Heard over the 93.3 FM that the rate has drop to more than 2.52...
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entity
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PostSubject: Re: Ringgit Rate   Wed Jul 31, 2013 9:33 pm

They are all collaborating not to follow the official exchange rate as they bought their ringgit at a much higher price.  Selling at 2.50+ they will be making a loss.
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nomic76
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PostSubject: Re: Ringgit Rate   Wed Jul 31, 2013 9:50 pm

Even Arcade centre....at CBD area...where there are lots of monetary transaction ran out of ringgit to change.

Rumour is that the supplier for Ringgit has no stock for "sale" and even a few companies doing TT transfer of ringgit into Malaysia had suspended their business for malaysia ringgit transaction.

Basically, the market is deprieved of ringgit as of now.
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vinjess
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PostSubject: Re: Ringgit Rate   Wed Jul 31, 2013 10:13 pm

at jurong point when the rate is 2.495, no ppl want. Now 2.490 and is freaking long q.
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outlander
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PostSubject: Re: Ringgit Rate   Wed Jul 31, 2013 10:36 pm

2.48 at Harbourfront Centre. 2.49 at the Indian mama store in vivocity.
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Tituman
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PostSubject: Re: Ringgit Rate   Wed Jul 31, 2013 11:51 pm

wtapz wrote:
Was told 2.49 this afternoon too... Heard over the 93.3 FM that the rate has drop to more than 2.52...

 Don't rely on them. They know nuts. Today's range was 2.5371-2.5571 in the spot. Right now is around 2.5450. Its just price cartel and no authorities can control them as they are not regulated. All of them holding physical stocks at rates detrimental to them if they were to sell it off at current prices. Simple as that. Their excuses for those in the know will be like what DGMan always said "NO STOCK" !!!!!!
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bogeyman72
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PostSubject: Re: Ringgit Rate   Thu Aug 01, 2013 10:14 am

Tituman wrote:
wtapz wrote:
Was told 2.49 this afternoon too... Heard over the 93.3 FM that the rate has drop to more than 2.52...

 Don't rely on them. They know nuts. Today's range was 2.5371-2.5571 in the spot. Right now is around 2.5450. Its just price cartel and no authorities can control them as they are not regulated. All of them holding physical stocks at rates detrimental to them if they were to sell it off at current prices. Simple as that. Their excuses for those in the know will be like what DGMan always said "NO STOCK" !!!!!!

Bro,

Any idea wat is the rate if you wanna sell SGD buy MYR with the moneychangers onshore in Malaysia? is it close to the interbank spot rate as you listed?

Just curious as MYR is non-deliverable outside Malaysia.

Many thanks.

Cheers.
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Botak88
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PostSubject: Re: Ringgit Rate   Thu Aug 01, 2013 10:45 am

was at malaysia rest pt yesterday, $2.45 nia so never change Sad Sad
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jurongtiger
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PostSubject: Re: Ringgit Rate   Thu Aug 01, 2013 12:28 pm

Wah Pat wants to convert all his SGD into RInggit!
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Tituman
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PostSubject: Re: Ringgit Rate   Thu Aug 01, 2013 12:40 pm

bogeyman72 wrote:
Tituman wrote:
wtapz wrote:
Was told 2.49 this afternoon too... Heard over the 93.3 FM that the rate has drop to more than 2.52...

 Don't rely on them. They know nuts. Today's range was 2.5371-2.5571 in the spot. Right now is around 2.5450. Its just price cartel and no authorities can control them as they are not regulated. All of them holding physical stocks at rates detrimental to them if they were to sell it off at current prices. Simple as that. Their excuses for those in the know will be like what DGMan always said "NO STOCK" !!!!!!

Bro,

Any idea wat is the rate if you wanna sell SGD buy MYR with the moneychangers onshore in Malaysia? is it close to the interbank spot rate as you listed?

Just curious as MYR is non-deliverable outside Malaysia.

Many thanks.

Cheers.

Sorry bro, no idea. Only knows there is a interbank market which deals on spot. One of my ex colleague went into Money Changer business after he left the dealing room. He must know there are money to be made. 
If you are in Malaysia and the rates are same as in Singapore around 2.49, or even worst, you think the Money Changers there short of RGT Currency?? Its a lame excuse as its the time for them to hit the hammer on nail.
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bogeyman72
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PostSubject: Re: Ringgit Rate   Thu Aug 01, 2013 1:51 pm

jurongtiger wrote:
Wah Pat wants to convert all his SGD into RInggit!

 wah lau eh, cannot spread rumours like this, bro Wil!

Embarassed
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bogeyman72
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PostSubject: Re: Ringgit Rate   Thu Aug 01, 2013 1:54 pm

Botak88 wrote:
was at malaysia rest pt yesterday, $2.45 nia so never change Sad Sad

 wah.... MYR245 nia....
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bogeyman72
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PostSubject: Re: Ringgit Rate   Thu Aug 01, 2013 1:57 pm

Tituman wrote:
bogeyman72 wrote:
Tituman wrote:
wtapz wrote:
Was told 2.49 this afternoon too... Heard over the 93.3 FM that the rate has drop to more than 2.52...

 Don't rely on them. They know nuts. Today's range was 2.5371-2.5571 in the spot. Right now is around 2.5450. Its just price cartel and no authorities can control them as they are not regulated. All of them holding physical stocks at rates detrimental to them if they were to sell it off at current prices. Simple as that. Their excuses for those in the know will be like what DGMan always said "NO STOCK" !!!!!!

Bro,

Any idea wat is the rate if you wanna sell SGD buy MYR with the moneychangers onshore in Malaysia? is it close to the interbank spot rate as you listed?

Just curious as MYR is non-deliverable outside Malaysia.

Many thanks.

Cheers.

Sorry bro, no idea. Only knows there is a interbank market which deals on spot. One of my ex colleague went into Money Changer business after he left the dealing room. He must know there are money to be made. 
If you are in Malaysia and the rates are same as in Singapore around 2.49, or even worst, you think the Money Changers there short of RGT Currency?? Its a lame excuse as its the time for them to hit the hammer on nail.

Well, I managed to secure 2.498 when the interbank spot was in the region of 2.52-53....

my guess is this is the same situation as prior to the Lunar New Year.... interbank was 2.50+ but local SGP money changers only willing to deal at 2.42 thereabouts... 

Unless one of them spoil market by earning a thinner spread through volume, which is unlikely since they share the same supply of currencies....

chill bro...
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outlander
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PostSubject: Re: Ringgit Rate   Thu Aug 01, 2013 2:05 pm

Think a lot of people changing for the upcoming long weekend, that's why money changers can still afford to keep the exchange rate low.
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zhenxua
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PostSubject: Re: Ringgit Rate   Mon Aug 05, 2013 5:15 pm

last weekend, JB money changers are offering 2.49 while MayBank's rate is 2.50
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Tituman
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PostSubject: Re: Ringgit Rate   Fri Aug 16, 2013 12:25 am

Today managed to get rate at 2.53 besides the Esso opposite Pelangi. Anybody manged to get improved rates lately. Couple of days ago, still was 2.49.
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Lipp
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PostSubject: Re: Ringgit Rate   Fri Aug 16, 2013 7:26 am

Two days back I saw at amk hub 2.52
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Technospaz
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PostSubject: Re: Ringgit Rate   Fri Aug 16, 2013 9:26 am

Got 2.52 at Suntec yesterday.

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jeffman88
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PostSubject: Re: Ringgit Rate   Fri Aug 16, 2013 9:43 am

2.525 at city plaza 4th floor yesterday
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hkhamateur
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PostSubject: Re: Ringgit Rate   Fri Aug 16, 2013 10:00 am

Wow...SGD re strong now whereas RM weaken so much. cyclops 
izzit gotta do w their high crime level beside their weak economy? Question
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jeffman88
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PostSubject: Re: Ringgit Rate   Fri Aug 16, 2013 10:21 am

me suspect they (the ringgit wholesalers not the money changers) bought rinngit @2.56-2.56 n hoarded over the Hari Raya weekend to sell n then now no demand quickly let go to cut loss Razz
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TDO
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PostSubject: Re: Ringgit Rate   Fri Aug 16, 2013 11:34 am

Will banks offer a better rate than the money changers? I wonder.
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nomic76
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PostSubject: Re: Ringgit Rate   Fri Aug 16, 2013 12:13 pm

Got 2.535 at JB money changers yest.
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