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SGD Strong, Ringgit Weak

Runifyouhaveto

Alfrescian
Loyal
20150611__Moneychangers_ST.jpg


2.79 tonight
 

singveld

Alfrescian (Inf)
Asset
the singapore dollars is strong because of PAP.
if opposition take over, i bet malaysian dollar will go back to parity.
 

Froggy

Alfrescian (InfP) + Mod
Moderator
Generous Asset
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."
 

bushtucker

Alfrescian (Inf)
Asset
i'm not much of a financial analyst, but if malaysia goes into recession, will singapore be dragged into it as well?
 

babuSingh

Alfrescian
Loyal
You can change 1 sgd to 2.77 myr at komtar, the new shopping mall beside city square. No queue no wait was there on saturday morning
 
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