Aussie Dollars Falls

Posted by Kris | Wednesday, October 29, 2008 | | 0 comments »

My brother called me up to tell me about this breaking news. The moneychangers refused to sell any amount of  Australian dollar to him and his friends. .Then i saw the posting at on the AUS dollar. What a coincident? Thus, i would like to highlight this incident.

I am proud of my brother as he is able to quickly grab new opportunities to pocket some side income "speculating on currency" albeit on a smaller scale. :) . Although they don't really make much as they are buying/selling through a money changer. Don't think they are ready to do forex though.. Still along way to go in this path. One small step at a time.

USD is on the rise. A good thing i did not convert my USD to RM or else I will suffer a significant amount currency losses as time goes by. RM is falling to ~3.50 per 1 USD from its high of 3.20. Political uncertainty and global financial crisis is the main cause.

Our Ministers still think that the Msian economy is immune to the global crisis. Retrenchment is on the rise on our closest neighbour , Singapore. Not a good time to change jobs.