The nation rejoices that the Malaysian Ringgit is strengthening against the US dollar and that Malaysians can look forward to paying less for imported goods. It is also good news for parents with children studying in the US as well as for travellers.
Today, The Star says Economists expect the ringgit to steadily appreciate against the US dollar with several predicting the local currency would strengthen to between 2.95 and 2.90 against the greenback in the coming months. The ringgit was valued at RM2.50 per US$1 prior to the Asian financial crisis and was later pegged at RM3.80 to the US dollar.
What does this mean to you if you earn in US dollars or hold US stocks bought when the exchange rate was above 3.5?