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?
it's a good thing to small normal malaysians like us, but might not be a good news for huge corporation and business mah.. :)ReplyDelete
Only good for me if I exchange foreign currency, I think.ReplyDelete
I don't think we'll get cheaper imported stuff. Easy to raise prices, not easy to lower it! XD
Good good, i am looking forward to buying my running Oakley running sunglasses,, but sad to say, i don;t think the stores will reduce the price even ringgit is up against the greenbacks lolReplyDelete
Not a good news for me. :(ReplyDelete
I guess if you are earning US dollars, then it's not good news. So bloggers with Google Adsense will not like it haha!ReplyDelete
I see malaysia has been buying EUR to strengthen MYR. Last buying was EUR300 - 400 million last night.ReplyDelete
Oh! I forgot, almost about 1 week or 2 ago. Malaysia bought 700 million in EURO also. Reason also to strengthen against the USD. Korea and Singapore are also doing it. So, everyone sells USD making it drops in value.ReplyDelete
parents with children studying in US will smile!ReplyDelete
SK, you may be right if you don't have a need for this foreign exchange.ReplyDelete
Lina, I'm with you about I don't think we'll get cheaper imported stuff. Easy to raise prices, not easy to lower it!
Eugene, I think if you buy online you might be able to realise some savings. Did you say Oakley? I remember doing a post on this brand. Here is the post. There's a site to check out.ReplyDelete
Tekkaus, I know what you mean. We can only make the most of it.ReplyDelete
Foong, it's not only for Adsense but for any earning in USD.
Ai Shiang, interesting information. Thanks for sharing.ReplyDelete
Doc, most definitely. Substantial savings there.