If we reach 1:3 this year, it would probably means that there is a major recession.
If that day comes, might as well make SGD the de-facto currency for malaysian man-on-the-street.
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SGD Strong, Ringgit Weak
- Thread starter Runifyouhaveto
- Start date
If we reach 1:3 this year, it would probably means that there is a major recession.
If that day comes, might as well make SGD the de-facto currency for malaysian man-on-the-street.
2.79 tonight
maximum boleh
Despite slump, ministry claims ringgit is region’s TOP PERFORMER
http://www.themalaymailonline.com/m...istry-claims-ringgit-is-regions-top-performer
Despite slump, ministry claims ringgit is region’s TOP PERFORMER
http://www.themalaymailonline.com/m...istry-claims-ringgit-is-regions-top-performer
Just saw this, frightening isn't it?
KUALA LUMPUR (BLOOMBERG) - Malaysia's ringgit is sliding toward its fixed exchange rate of a decade ago and central bank assurances the weakness will prove temporary aren't convincing everyone.
Macquarie Bank Ltd. is reviewing its year-end forecast of 3.75 per dollar after the currency sank last week to within 0.7 per cent of a 3.80 peg imposed by former Prime Minister Mahathir Mohamad during the 1998 Asian financial crisis. Westpac Banking Corp. and Macquarie say it's just a matter of time before that threshold is tested, given waning demand for emerging-market currencies as the U.S. moves closer to raising interest rates.
The decline prompted Bank Negara Malaysia Governor Zeti Akhtar Aziz to say last week that the exchange rate wasn't consistent with the nation's economic fundamentals, which are "markedly different" from those at the time of the crisis. While a weaker currency will help revive exports, it also threatens to add to inflationary pressure following the implementation of a new goods and services tax in April.
"There are still levels to look at higher than 3.8," said Nizam Idris, head of currency and fixed-income strategy at Macquarie in Singapore, who's been covering the foreign-exchange market for two decades including a stint at UBS AG. "How much is enough is the big question."
KUALA LUMPUR (BLOOMBERG) - Malaysia's ringgit is sliding toward its fixed exchange rate of a decade ago and central bank assurances the weakness will prove temporary aren't convincing everyone.
Macquarie Bank Ltd. is reviewing its year-end forecast of 3.75 per dollar after the currency sank last week to within 0.7 per cent of a 3.80 peg imposed by former Prime Minister Mahathir Mohamad during the 1998 Asian financial crisis. Westpac Banking Corp. and Macquarie say it's just a matter of time before that threshold is tested, given waning demand for emerging-market currencies as the U.S. moves closer to raising interest rates.
The decline prompted Bank Negara Malaysia Governor Zeti Akhtar Aziz to say last week that the exchange rate wasn't consistent with the nation's economic fundamentals, which are "markedly different" from those at the time of the crisis. While a weaker currency will help revive exports, it also threatens to add to inflationary pressure following the implementation of a new goods and services tax in April.
"There are still levels to look at higher than 3.8," said Nizam Idris, head of currency and fixed-income strategy at Macquarie in Singapore, who's been covering the foreign-exchange market for two decades including a stint at UBS AG. "How much is enough is the big question."
Malaysian opposition alliance falls apart
http://www.businesstimes.com.sg/gov...ric-malaysian-opposition-alliance-falls-apart
Democratic Action Party (DAP) chief Lim Guan Eng said his party would no longer work with its former partner, the Pan-Malaysian Islamic Party (PAS), with whom the DAP has clashed over the latter's calls for strict Islamic law.
"Pakatan Rakyat (People's Pact) therefore ceases to exist," Mr Lim said in a statement.
http://www.businesstimes.com.sg/gov...ric-malaysian-opposition-alliance-falls-apart
Democratic Action Party (DAP) chief Lim Guan Eng said his party would no longer work with its former partner, the Pan-Malaysian Islamic Party (PAS), with whom the DAP has clashed over the latter's calls for strict Islamic law.
"Pakatan Rakyat (People's Pact) therefore ceases to exist," Mr Lim said in a statement.
In denial, or living in Mars ...kns, this kind of media play can bluff?
I changed some ringgit today at the money changer.
Rate was 2.78!!!
Rate was 2.78!!!
i'm not much of a financial analyst, but if malaysia goes into recession, will singapore be dragged into it as well?
well, 1:3 lai liao.
We don't have bank financial analyst here, only bank customers
Things are relative in FX
Bushtucker get E for his English but RUN gets F
We both fail English but you are still better than me.
In denial, or living in Mars ...kns, this kind of media play can bluff?
Chinese night paper says long queues at moneychangers, mainly locals buying Ringgit and Aussie dollars for vacation use.
Go towards the end of the week sure long queue. Today queue ok. I went Arcade before 12 noon, avoiding the lunch crowd.
good rate.
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