Author Topic: Foreign Exchange Market : The Ringgit  (Read 931 times)

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Online HIDDENTopic starter

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Foreign Exchange Market : The Ringgit
« on: November 15, 2009, 07:08:58 PM »
hi,

I've moved the couple of threads on ringgit exchange rates to this new board. It makes the main board (Fixed Deposits and the Ringgit and the Banks) clearer.

I thought that we could use this child board for our prognostications on the future direction of the ringgit. And interest rates.

I'll also put in the weekly "foreign Exchange Market" news from the Saturday StarBizWeek as it's useful for those members overseas to get some feel for the direction of the ringgit. They can see where it's been. Now if only we could see where it's going.  ;)

scott.wink

Online HIDDEN

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Re: Foreign Exchange Market : The Ringgit
« Reply #1 on: November 15, 2009, 09:59:55 PM »
I have just been instructed to sell my Kiwi dollars for Ringitts and not to buy more A$ for the time being. The reason is that both these currencies have become "toppy" and that Forex investors will be running for the hills with thier profits.

The source of this information was my son who also told me to buy Gold when it was 900 and to buy A$ & $NZ just before they lifted off.

I think I might take his advice, the track record is pretty good.

Of course if and when the $NZ falls I buy in again as the Kiwi bankers love high interest rates and will be headed back there eventually.

Bob
Don't just cut and paste, say what you think!

Offline HIDDEN

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Re: Foreign Exchange Market : The Ringgit
« Reply #2 on: June 04, 2010, 04:50:11 AM »
There is no inside source. Track record on a market as big as AUD/NZD is no indication of future performance.

If you need kiwi or if you need aussie then buy it. If not then don't. Otherwise it's just gambling wrapped up in something financial sounding so you feel a bit better about yourself.

Stick to investments in which you have a competitive advantage. Perhaps Malaysia real estate? You guys will know where the expats will feel most at home.
Why not do a City Centre Invest Pool group your money and revitalise downtown Penang with Scott's help? That's a real investment.

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Re: Foreign Exchange Market : The Ringgit
« Reply #3 on: June 04, 2010, 11:42:29 AM »
hi, riskyrisk.

Great idea. I've been planning to start a thread on "what to do with shophouses" over on the Penang board.

scott.thumb

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Re: Foreign Exchange Market : The Ringgit
« Reply #4 on: June 05, 2010, 12:46:57 AM »
A friend of mine does something similar in his retirement years in Istanbul.
He "has spent the past five years sizing up derelict property, convinced that with the right restoration what was formerly high-end residential property can be returned to its former glory."
This was done in areas around the İstiklal Avenue. He buys say 5 pieces at one time together with pooled money. Then handles all the legal and restoration coordination. Then the rent them until they can sell them on.

He can do this since he's invested some years in understanding the local legal and property complexities.

 

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