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Ringgit 3.69 soon

J

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The Singapore dollar continued its ascent against the Malaysian currency to reach a 13-month high against the ringgit on Wednesday (Dec 19).
The Singapore dollar rose to an intraday high of RM3.0650 today.
https://www.todayonline.com/singapore/singapore-dollar-hits-13-month-high-against-malaysian-ringgit

Oil price skids on oversupply fears and weak world economy and Malaysia continues to fuck Singapore. Singapore will retaliate in FX market.
https://www.channelnewsasia.com/new...rsupply-fears-and-weak-world-economy-11044118

wti-1-1024x544.png


Looks like Ringgit will be due for 15-25% correction in 2019
 
J

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Speculations about Mahathir garnering support from UMNO and PAS members
- Another Mahathir's child poised to join PPBM in 2019 (Mahathir's party in PH Alliance)
- Mahathir raising stakes with PAS and UMNO members willing to defect to PPBM. Opposition PAS likely to support Mahathir in a split from PH to retain existing members.
- Mahathir unlikely to seat power within 2 years. Conflict with Singapore will consolidate his grip over the state.


Dr M: Ex-Umno members can bring in more Malay votes for PPBM
https://www.nst.com.my/news/politic...-umno-members-can-bring-more-malay-votes-ppbm
PAS leaders send confused signals after its MPs meet Mahathir
https://www.malaysiakini.com/news/456448
 
syed putra

syed putra

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AhMeng said:
Which means if you own a property in JB, your money invested in the property also devalue. :biggrin:

How? More firecrackers soon...:biggrin:
Click to expand...
That means homes in jb are cheaper than last year and affordable. Good for those who needs cash by selling sinkie homes.
After all, it was najib that destroyed development in jb by increasing minimum price foreigners can buy from RM500k to RM1 mil.
 
Hypocrite-The

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I hope it goes up to 5RM. But sanctions n restrictions need to be in place. For example discouraged employers from hiring m&ds. Stop all scholarships to mudland students. And remove mudland from the traditional employment source garbage. Need to stop all these twins BS. Singkieland is a country that has stood on its own 2 feet. It's high time m&ds stop getting a free ride.
 
Hypocrite-The

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Singapore dollar hits 13-month high against Malaysian ringgit




BusinessSingapore dollar hits 13-month high against Malaysian ringgit
image: data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==
(Photo: AFP)
19 Dec 2018 05:18PM(Updated: 19 Dec 2018 05:20PM)
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SINGAPORE: The Singapore dollar continued its ascent against the Malaysian currency to reach a 13-month high against the ringgit on Wednesday (Dec 19).
The Singapore dollar rose to an intraday high of RM3.0650 on Wednesday before easing back to RM3.0546, in what some dealers attributed to reduced demand for the Malaysian currency amid weaker oil prices.

This is the highest since the Singapore dollar touched RM3.0724 on Nov 20 last year.

Oil prices are under pressure as traders fret over a global supply glut, higher production and the outlook for demand.
“Doubts over the impact of planned production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) are also pressuring prices,” one dealer told Bernama.
Global benchmark Brent crude futures ranged between US$56.27 and US$56.85 per barrel on Wednesday. Prices had dropped 5.6 per cent on Tuesday, at one point hitting a 14-month low.

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Malaysia's Deputy Finance Minister Amiruddin Hamzah said on Wednesday that the Malaysian central bank would always make sure that the ringgit is stable, by using proactive measures to ensure sufficient liquidity and a resilient market.
"In the long term, the ringgit value would be driven particularly by the strength of the country’s economic fundamentals. Hence, Malaysia needs to focus efforts on increasing its economic resilience by diversifying revenue sources and strengthen its fiscal position,” he said.
On how far the government is monitoring the ringgit value following a possible move by the US to increase its interest rate soon, Amiruddin said the central bank’s current policy had and will continue to help Malaysia in times of uncertainty and volatility, without affecting the country’s economy.
"This policy including a flexible ringgit exchange rate will play an important role as an external shock absorber without affecting the domestic economic activities.

"Secondly, by ensuring the financial markets function in an orderly manner by taking proactive measures to make sure liquidity are sufficient, reduce speculation to avoid significant volatility in the ringgit, and lastly, using international reserves in accordance to the needs to stabilise the market,” he explained.
Source: Agencies/aj(gs)
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image: https://rp.gwallet.com/r1/cm/p46

p46





Read more at https://www.channelnewsasia.com/new...month-high-against-malaysian-ringgit-11046272
 
J

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Dr Mahathir’s rating dropping, public losing patience, warns Rafizi
https://www.todayonline.com/world/dr-mahathirs-rating-dropping-public-losing-patience-warns-rafizi

The approval rating of Prime Minister Dr Mahathir Mohamad and his government has dropped rapidly, largely due to the people’s disappointment with the government’s failure to reduce higher cost of living and fulfilling election promises, said Parti Keadilan Rakyat (PKR)’s Rafizi Ramli.

According to opinion polls cited by Mr Rafizi, Dr Mahathir’s approval rating as the prime minister has plunged to 53 per cent in the past six months, down 19 per cent from the 72 per cent approval rating in June.
 
Asterix

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The recent Malaysian Budget was based on oil price of USD 70 per barrel. Oil price has since dropped to below USD 50. Means government will run a bigger deficit than expected dragging MYR down. Huat arh!
 
J

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Asterix said:
The recent Malaysian Budget was based on oil price of USD 70 per barrel. Oil price has since dropped to below USD 50. Means government will run a bigger deficit than expected dragging MYR down. Huat arh!
Click to expand...

Ringgit's woes are also polticial. Even Saudi Riyal appreciated for six consecutive months against Ringgit.
(Saudi Arabia is more dependent on oil)

myr-sar-180-day-exchange-rates-history-chart.png


As the year is coming to an end, we can expect corporations in Malaysia to channel their excess ringgits to other currencies offshore.
 
glockman

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JustLikeThis said:
Dr Mahathir’s rating dropping, public losing patience, warns Rafizi
https://www.todayonline.com/world/dr-mahathirs-rating-dropping-public-losing-patience-warns-rafizi

The approval rating of Prime Minister Dr Mahathir Mohamad and his government has dropped rapidly, largely due to the people’s disappointment with the government’s failure to reduce higher cost of living and fulfilling election promises, said Parti Keadilan Rakyat (PKR)’s Rafizi Ramli.

According to opinion polls cited by Mr Rafizi, Dr Mahathir’s approval rating as the prime minister has plunged to 53 per cent in the past six months, down 19 per cent from the 72 per cent approval rating in June.
Click to expand...
He was supposed to help mudlanders, their messiah. But instead, he focused on picking a fight with sinkieland. Senile old man. Anwar should replace him now.
 
Hypocrite-The

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JustLikeThis said:
Speculations about Mahathir garnering support from UMNO and PAS members
- Another Mahathir's child poised to join PPBM in 2019 (Mahathir's party in PH Alliance)
- Mahathir raising stakes with PAS and UMNO members willing to defect to PPBM. Opposition PAS likely to support Mahathir in a split from PH to retain existing members.
- Mahathir unlikely to seat power within 2 years. Conflict with Singapore will consolidate his grip over the state.


Dr M: Ex-Umno members can bring in more Malay votes for PPBM
https://www.nst.com.my/news/politic...-umno-members-can-bring-more-malay-votes-ppbm
PAS leaders send confused signals after its MPs meet Mahathir
https://www.malaysiakini.com/news/456448
Click to expand...
Sounds like madhatter will play out Anwar
 
J

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Hypocrite-The said:
Sounds like madhatter will play out Anwar
Click to expand...

Reasons for the ringgit's decline include political uncertainty and falling oil prices, analysts said.
https://www.straitstimes.com/business/malaysian-ringgit-continues-to-fall-against-singdollar

Mr Chua Han Teng, head of Asia Country Risk at Fitch Solutions, said the ringgit's decline could be attributed to weakness in oil prices seen since October.

Mr Chua expects the ringgit to depreciate further against the Singdollar next year.

He said: "The ringgit will weaken due to continued political and policy uncertainty in Malaysia brought about by the ruling Pakatan Harapan coalition."
 
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