it really really makes me mad. for years and years the ringgit was pegged to the dollar at 3.8,
never changed. and the year that i finally start working in the US, making US dollars, the ringgit is at 3.4 now!
its so unfair.
when will this stop? when will it stop? at 3.2? at 2.8?
what is the malaysian goverments aim?
at the least i can start calculating how much i'll lose now instead of watching it inching higher and higer against the dollar.
will it ever go back up to pre october 2006 levels or 3.7?
somebody help me please.
2007-02-06 14:35:55 · 7 answers · asked by Anonymous in Travel ➔ Asia Pacific ➔ Malaysia
oops. i mean go down against the dollar.
i want the ringgit to go back to 3.8,
or at least tell me when the slide will stop.
its 3.4 now, i need the dollar to be stronger again.
2007-02-06 14:41:03 · update #1
unlikely it will go up agian to 3.8. I think it will stay somewhere between 3.3 to 3.6 for a year
2007-02-07 20:27:27 · answer #1 · answered by anderson 6 · 0⤊ 0⤋
it was 3.8 because the govt controlled it before, but now not anymore. They let the MYR 'floating' like any other currency and the market will 'decide'
when USD high against MYR, it's good for exporter but very bad for importers
you feel this unfair because you're an 'exporter'
'ideally' it's at 2.5 to be 'fair' for everybody
the currency exchange is a dynamic thing and will never stop unless the govt wants to control it. it will keep floating
i don't know what's the govt aim but normally they'll make the MYR even stronger. stronger MYR 'indicates' stonger economy for the country (one of many indications actually). It's good for politicians/govt to face the next general election
personally i would say it won't touch 3.6 again this year and will grow stronger at least 3.2 in Dec'07. Wanna bet?
It's kinda complicated thing to explain here in YA. Pls do some research make yourself updated regularly - newspaper, TV, internet
good luck
-edit-
anomaly,
if you earn MYR and paying in USD for the school fee, you should be happy with this development (stronger MYR) as you're paying less. You're an 'importer', my friend
2007-02-06 15:25:25 · answer #2 · answered by ¥op 6 · 1⤊ 0⤋
Ringgit appreciation against usd really make me headache. It seems like every month I got salary deduction about rm500 without any reason. I hope US can do something with their economy so that their currency won't drop so sharply against other currencies.
2007-02-06 20:24:12 · answer #3 · answered by Jedi K 4 · 1⤊ 0⤋
hope ringgit will move up to its glorious days..1 riyal = 70 msian cents..
2007-02-06 16:09:34 · answer #4 · answered by Anonymous · 0⤊ 0⤋
agree with BO$$. it's unfair for malaysian if the thing go up to RM3.8 or further. RM2.5 is the fair rate.
2007-02-06 15:39:20 · answer #5 · answered by mick 2 · 1⤊ 0⤋
The US economy will crash soon, then the Ringgit will gain strength again!
2007-02-06 14:39:48 · answer #6 · answered by Effendi R 5 · 2⤊ 1⤋
I hope so too. It was a pain to pay for my uni fees in Australia and still is for my brother's.
2007-02-06 14:42:04 · answer #7 · answered by anomaly 2 · 0⤊ 0⤋