The ringgit rose to a fresh 13-year high against the ailing US dollar yesterday, tracking gains by other regional currencies, as the prospect of stronger economic growth fuelled speculation of further inflows from overseas funds.
This may be good news for the country but for Malaysian bloggers who earn US dollars, this trend spells less income in Ringgit after conversion. I'm holding some company stocks and I'm seeing my profits/dividends eroding due to the appreciating Ringgit.
Yeah! Not good for me at all. :/
ReplyDeleteSince gold is shooting higher and higher no doubt that USD has to go weaker. Although there is conspiracy theory about the government is letting (on purpose) the USD goes weaker so they can export more.
ReplyDeleteHave you heard that the USA is printing new currency called the "Amero"? Speculation: They might recall USD$2 for 1 Amero.
As a Malaysian, I'm proud to know that our currency has gained strength, despite the related associations with things like inflation, or it being a problem to exporters.
ReplyDeleteWhat you lose in exchange rate, hopefully you have gotten part of it back via appreciation of stocks.
Tekkaus, unfortunately, some things are not within our control but we can be consoled that it would not be a case of 1:1 anytime soon, if ever.
ReplyDeleteAi Shiang, I've read about it. Only time will tell if it'll materialise.
Shingo, there are pros and cons like everything else. Hopefully, the pros outweigh the cons for everyone.
ReplyDeleteYeah, bonus issues somewhat offset the forex losses.
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