Great time to visit Malaysia :)

Hi Friends! Thank God it's FRIDAY! Woohoo! Really looking forward to the weekend. Apart from a talk I need to conduct on Saturday afternoon, and a simple assignment I need to complete by Monday, I AM FREE! This has got to be the most relaxed period in time in recent weeks. Sigh... time to catch up on my lost sleep... :)

Anyways, for my friends in the United States, this is a great time to visit Malaysia! The dollar is continuing its meteoric rise against the ringgit, in spite of the terrible crisis. It's amazing that our newly crowned Finance Minister thinks that there's nothing wrong with Malaysia's economy... LOL what a joke...

News: Malaysian Ringgit Slides To 21-month Low Against Dollar

Yesterday, the dollar peak at 3.52 against the ringgit. Woohoo!



So it's really a great time to travel to Malaysia. Alternatively, you may want to change your dollars to ringgit, and wait for the ringgit to rise. Is that how they make money on foreign currency exchange? Of course, there will be some lost in the process of conversion, but the loss is minimal compared to the PROFIT...



Let's say there's no loss in the conversion:



At yesterday's exchange rate, USD 10,000 = RM 35,200.



At April 23, 2008's exchange rate (3.13), USD 10,000 = RM 31,300.



A difference of RM 3,900 or USD 1,107.95, just like that. Like I said, there will be some loss, but the loss is minimal, as compared to the PROFIT. And the example above only involve USD 10K. What if it is 100K? A profit of RM 39,000 or USD 11,079.55, in just 6 months. That's almost the same as my 1 year basic salary! Crazy huh?



Of course, the exchange rates will not always turn out like the instance above. But those who are smart will be able to make tonnes of profit from the volatilability of the exchange rates.



Hmmm..... easy money? Probably...