De Pegging Ringgit Malaysia

I try to refrain myself from blogging about this, as I want to conserve my "mental stamina" to write a post after this on what I have promised yesterday and also an email to Mya, but , hmm.. it's quite important too.

Malaysian Government has finally decided to depeg Ringgit Malaysia against US Dollar! I can't verify the rate as s@k has just called to inform me the news! Does it have any effect on us? Not sure.. Me? YES!

You see, I have deposited a USD384.54 check into our bank account last week. Usually it takes about 30 days to clear. But after the depegging we can simply lost hudreds of RM just like that!

Before: USD1=3.8
USD384.54=RM1461.52

(No exact rates, s@k anticipate anything from 3.50 to 3.00)

-IF-

Now: USD1=3.6
USD384.54=RM1384.34
We lost RM77.17

Now: USD1=3.5
USD384.54=RM1345.89
We lost RM115.63

Now: USD1=3.4
USD384.54=RM1307.43
We lost RM154.09

Now: USD1=3.3
USD384.54=RM1268.98
We lost RM192.54

Now: USD1=3.2
USD384.54=RM1230.52
We lost RM231

Now: USD1=3.1
USD384.54=RM1192.07
We lost RM269.45

Imagine, we are just petty trader. How much the big boys are losing? ;)

So, my message here, listen to news. It change your life! hehe.. oh, if we are a few days earlier.. ;) btw, it's not all bad. This will also mean that we will get better price from international seller compared than before.

Added later: I researched more about this, and I found out that this depegging took effect immediately. Before I wrote this post, USD1=RM3.799 and now, it is USD1=RM3.800 , and I keep praying the range will hover around that range at least until my check clears...hehe