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Friday, March 27, 2015

Malaysian Ringgit weakens


The Star reported a week ago that:

The ringgit is expected to weaken to the 4.00-level versus the US dollar in the next six months as investors anticipate a hike in the benchmark US federal funds rate.

The hike may come earlier than anticipated after recent indicators show growth has visibly strengthened in the world’s largest economy.

The ringgit has fallen to the lowest level in the last six years and closed at 3.73 to the US dollar yesterday as concerns mount over the Malaysian economy’s exposure to commodities following the drop in crude oil, palm oil and rubber prices.

Full article..

3 comments:

Irvine Chin said...

what a shame. hope myr gets better soon!

but of course, happy for malaysian working overseas :D

HappySurfer said...

Right, or for those earning western currencies online here. Ahem..

Irvine Chin said...

haha yeah. but still, it always feels saddening seeing myr going down too. either it hurts lol

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