Sing Dollar vs Ringgit M'sia... new lows

[Force 136]

Ringgit climb hill eat grass liau.....

SINGAPORE: The Malaysian ringgit has weakened to a 15-year-low against the Singapore dollar.

It has been on the steady decline against the Singapore dollar and the US dollar since May when the US Federal Reserve mentioned it could start tapering quantitative easing by the end of the year.

Experts said the currency should be bottoming out soon but in the meantime, it might be a good time to invest in Malaysia.

On Monday, the ringgit hit 2.5485 against the Singapore dollar, its weakest point in 15 years.

Experts said the ringgit could be testing a new low and that it reflects Malaysia's slowing growth and Singapore's upside surprises.

Philip Wee, a currency economist at DBS, said: “I think against the Singapore dollar, we are probably near the bottom of our price channel. In the past couple of times when it tested an all-time low, it dropped about 50 pips or 1.3 per cent below the last low. Given the last low from what we have seen last year, it should be around or just below the 39 cents level against the Singapore dollar.”

Experts said Malaysia's growth over the next six to 12 months is likely to be more domestically focused which could provide some resilience to the currency.

In the meantime, analysts said now could be a good time to invest in Malaysia.

cna
http://www.channelnewsasia.com/news/business/singapore/ringgit-drops-to-15-year/759982.html

 

[ilovesingapore]

We must always be proud of our own country. Happy National Day Singapore! Majulah Singapura!!!
World's best governed country with a world class governance!!!

 

[Dark Knight]

In the long run, this makes exporting for m&d land much more competitive to Sillypore.
Seems like it helps to boost their economy instead of ours.

 

[singveld]

they have land, water, natural resource, yet we beat them, so proud of singapore, beating an terrorist state.

 

[po2wq]

sinkies can now go jb n haf a bigga rubberbanded $ ...

 

[GOD IS MY DOG]

Ringgit climb hill eat grass liau.....

SINGAPORE: The Malaysian ringgit has weakened to a 15-year-low against the Singapore dollar.

It has been on the steady decline against the Singapore dollar and the US dollar since May when the US Federal Reserve mentioned it could start tapering quantitative easing by the end of the year.

Experts said the currency should be bottoming out soon but in the meantime, it might be a good time to invest in Malaysia.

On Monday, the ringgit hit 2.5485 against the Singapore dollar, its weakest point in 15 years.

Experts said the ringgit could be testing a new low and that it reflects Malaysia's slowing growth and Singapore's upside surprises.

Philip Wee, a currency economist at DBS, said: “I think against the Singapore dollar, we are probably near the bottom of our price channel. In the past couple of times when it tested an all-time low, it dropped about 50 pips or 1.3 per cent below the last low. Given the last low from what we have seen last year, it should be around or just below the 39 cents level against the Singapore dollar.”

Experts said Malaysia's growth over the next six to 12 months is likely to be more domestically focused which could provide some resilience to the currency.

In the meantime, analysts said now could be a good time to invest in Malaysia.

cna
http://www.channelnewsasia.com/news/business/singapore/ringgit-drops-to-15-year/759982.html

Ringgit was the best performing currency of 2012.....................so now drop is not surprising....................

at current levels...................it's a must buy.................prepare to average down though..............:p

 

[Ash007]

I remember when it was 1 to 1, then 1 to 1.2 , then 1 to 1.7, eventually 1 to 2, now 1 to 2.5, anyone starting to see a trend here? At this rate, 1 to 3.0.

 

[watchman8]

I remember when it was 1 to 1, then 1 to 1.2 , then 1 to 1.7, eventually 1 to 2, now 1 to 2.5, anyone starting to see a trend here? At this rate, 1 to 3.0.

Just like British pound. Used to be 1:8. Now less than 1:2

 

[syed putra]

RM and Thai baht have been stable for decades. They should merge these currencies or form a currency board just like Singapore and Brunei.

 

[Jah_rastafar_I]

RM and Thai baht have been stable for decades. They should merge these currencies or form a currency board just like Singapore and Brunei.

yucks and have the m&ds pull down the thais?

 

[laksaboy]

Singapore is now a gambling. money laundering and private wealth management hub, there isn't much of a manufacturing base nor are there worthwhile goods to export. So a strong SGD won't affect the 'grand scheme of things' much.