SAVE RINGGIT! SAVE RINGGIT! SAVE RINGGIT!
Monday, March 2, 2009
1 US Dollar = 3.76577 Malaysian Ringgit
1 Malaysian Ringgit (MYR) = 0.26555 US Dollar (USD)
Interbank rate +/- 0%
Monday, March 2, 1998
1 US Dollar = 3.64000 Malaysian Ringgit
1 Malaysian Ringgit (MYR) = 0.27473 US Dollar (USD)
Interbank rate +/- 0%
Oh my, I could not help but shaking my head analyzing the currency between Ringgit Malaysia and US Dollar.
It indicated that our economy situation right now is much more in deep trouble than during the Asian Financial Crisis 1997.
If the Ringgit trend of depreciating continues, very soon we will see the Ringgit breaking the benchmark of 1 US Dollar = 3.80020 Malaysian Ringgit that being pegged from September 1998 until July 2005. When it break the benchmark, it could run wild and this could spell disaster.
Lower Ringgit will counter the deflation while maintaining a certain degree of inflation and this could burden the people during this recession.
Save the Ringgit now! The Ringgit must move along the same value of Thai Baht, Taiwan Dollar, Russian Rouble, Polish Zloty and Argentine Peso. Any major depreciation from the above mentioned currencies will bury the Ringgit deeper.
2 responses so far ↓
By Passer // March 3, 2009 at 11:54 am |
Nice post,
Although your blog may not be one of those with highest hit stats, but I thinks it’s best to write on things of your self interest. Keep it up.
I have some questions.
1) What will happen to the prices of necessities like food, water, petrol, education and health care if recessasion does strike badly in Malaysia?
oystercove // March 3, 2009 at 4:37 pm |
Thanks By Passer for your comment.
To answer to your question:
When bad recession strike Malaysia from 2009 to 2013, my predictions to the below price of necessities are:-
1) Food will not getting any cheaper. More restaurants will close down. The surviving restaurants will take the opportunity to charge higher on food prices.
2) Water will remain at the current rate.
3) Petrol will be influenced by global oil prices.
4) Education will cost higher each year since education industry is recession proof.
5) Healthcare will be more expensive since the imported drugs will cost more due to weakening of Ringgit.