The big news of the day is the ringgit un-peg. Or de-peg. Or no-peg. Read it here.
So what’s the new exchange rate gonna be?
It used to be this:
USD$1 = RM3.80
So what’s the new, ‘stable’ rate going to be like?
The talk on the street is somewhere between RM3.20 to RM4.00.
According to our central bank:
Since Jan 1, the ringgit has appreciated by 11.3% against the euro, 7.29% against the yen, 9.82% versus the pound sterling, 6.35% against the baht and 1.5% compared with the Singapore dollar.
So if we calculate using my RM9.90 Snoopy calculator I bought at the SS2 pasar malam:
Based on the rise against the euro, the new value should be RM3.41;
Based on the rise against the yen, the new value should be RM3.54;
Based on the rise against the pound sterling, the new value should be RM3.57;
Based on the rise against the euro, the new value should be RM3.74.
(Feel free to make fun Simon’s understanding of the money market. He failed his SRP)
So, feeling confused, Simon called his bookie, Ah Fatt. (Not to be confused with Ah Keong, his mechanic or Ah Long, his friendly loan-shark)
According to Ah Fatt, there is already a betting odds are already out! The odds are as follows:
(Based on exchange rate of USD$1 on September 1st, 2005)
Below RM3.00 = 25 to 1
RM3.00 to RM3.19 = 10 to 1
RM3.20 to RM3.49 = 5 to 1
RM3.50 to 3.79 = 2 to 1
Maintain at RM3.80 = 7 to 1
More than RM3.81 = 15 to 1
Special buy :
RM3.88 = 8 to 1
(Minimum bet RM100, please check odds daily before booking. Money up front, Maybank2u)
12 Comments
ka-soons
err… why ringgit become riggit already ar?? I thought de-pegged only. Changed named also? wah. I heard it hear 1st!
Simon
wah lau eh! you people damm fast one aa? :PPP
Wingz
eh! i buy [RM3.50 to 3.79 = 2 to 1] RM100 big RM100 small, and RM100 on spesel buy also [RM3.88 = 8 to 1] ….. i send u a cek after i kena ok ? tenkiu!
Jason
I am buying between RM3.20 to RM3.49!
RM200. 😀
keng å‘
This post has been removed by the author.
keng å‘
there is another betting pool of whether KLCI can top the 1000pts by end of year.. you can buy “Yes” or “No”, easier… just like buying “dai”(big) “sai”(small).
Today the CI boost 17+ pts!!
wildcharm
It’ll be 3.5-3.79…bet 1000 Big 1000 Small *winks*
Golf Addix
what a beautiful to start with. with the recent repegging , nothing much willl change except the govt is trying very hard to lure more foreign investors to come into the country and actually bring in more funds. you wont see the currency going more than RM 3 or go beyond RM 4 per dollar. Reasons , it is managed float and not total float. In other woods , it is as usual , politicians , say one word means thousand outcries…I sincerely hope not.
Simon
wingz – win oredi must belanja aa?
jason – we’ll wait and see the results on sept 1, ok? 🙂
keng – i say ‘no’. maybe b4 chniese new year,la.
wildcharm – pls transfer RM2000 to Ah Fatt’s account, aa?
golf addix – i believe the gomen still has some degree of control over the price of the ringgit. after the 90’s debacle, we have to be more careful now.
5xmom
Oi, dun curse ha? I want it to go up to RM5 (for my google mah).
Out of topic – WAS it you? I think so. *grin*
Another out of topic – PPS finalists! Go, Simon, go!
Simon
if go up RM5, then a lot of ppl sure cry one man.
P/s yes, its me. 🙂
Maggie Fisher
nice site