Thursday, 2 March 2017

Ringgit Pelingkup, JB Boleh Tukar Nama Jadi 'Singapore North'.

Ringgit Pelingkup, JB Boleh Tukar Nama Jadi 'Singapore North'.

Thank you to the reader who sent this in the comment.  Taxi drivers in Johore Bharu now accept Singapore Dollars for the JB - Rochor ride. The rate is SGD12.00 per person. 

It means Singapore Dollars are now legal tender in JB.

The Notice says they have the approval of SPAD.  But isnt this the responsibility of Bank Negara? Isnt it against the Law to use foreign currencies as legal tender in Malaysia?  

In the old days at Padang Besar in Perlis people will walk through the hole in the fence to cross over into Thailand.  The Malaysian Ringgit was accepted in the market and plenty of Malaysians will buy things over there.  Thailand was a poor country and they welcomed Malaysian Ringgit.

Now Malaysia is becoming a poor country and Johore Bharu is becoming a border town like Padang Besar that welcomes the Singapore Dollar.

Nasib baik ada Singapura dengan banyaknya Singapore Dollar. Boleh lah kita tumpang toi. 

The Ringgit is crashing. Here is the Straits Times Singapore :
  • Sing dollar y'day touched record high against ringgit 
  • Singdollar was RM3.173 
  • gain > 2% since start of 2017 (when rate was RM3.1065)  
  • one analyst believes rate could be headed for RM3.30. 
It looks like the Ringgit will hit RM3.30 to the SGD.

Mampu ke orang Johor pi shopping di Orchard Road? 
RM3.17 is so expensive.  
Kena kira duit betul-betul. 
If it hits RM3.30 it will be even worse.
Here is the problem. Do the people that matter understand all this? I dont think so.

Then you have the bodoh sombong who say,  our economy is strong, there is nothing wrong, everything is fine etc. 

There is that new village hack who says our car sales are booming !!   

 Can we just use the Singapore Dollar throughout Malaysia? 

If we do then we will have three countries Singapore, Brunei and Malaysia which will share the same currency  (Brunei has their own dollar but it is pegged to the Singapore dollar. Plus Singapore handles Brunei's monetary affairs, including printing their money ! !) Ada juga Melayu yang untung (I wanted to say 'pandai'.)

Here is something from the past :  

Currency Interchangeability Agreement - Brunei Notes and Coins

In order to facilitate economic and trade relations, Brunei, Malaysia and Singapore adopted a system of free interchangeability of their respective currencies, which took effect from 12 June 1967.  

This tripartite arrangement was terminated in 1973 when Malaysia opted out of it. However, Brunei and Singapore decided to continue with the arrangement, which exists until today.

Under the agreement, each country undertakes to accept the currency issued by the other and to exchange them, at par and without charge, into their own currency.  

In other words, the two currencies are "customary tender" when circulating in the country in which they are not legal tender. Banks will thus accept from the general public, including retailers, Brunei currency at par for deposit. Hence, members of the public and businesses can safely accept Brunei currency received for payment.

"  terminated in 1973 when Malaysia opted out of it  "
We have been 'tak pandai' for a long time.

No comments: