At the height of the 1997/98 Asian financial crisis, the ringgit hit a high of 4.7125 against the US dollar on Sept 1, 1998

Malaysia must resolve 1Malaysia Development Berhad's (1MDB) debt issue or risk a negative chain of events, second finance minister Datuk Seri Ahmad Husni Hanadzlah had said on Wednesday.

If the country has to find RM42bn to pay back the troubled company's debt in addition to the budgeted RM52bn of development expenditure for next year, then the fiscal deficit will shoot up to 4% from the target of 3.2%, according to the minister.

The ringgit could fall to Asian crisis levels when the USD/MYR pair had risen above 4.0 and the country could face rating downgrades if the debt issue is not solved, he added.

The Malaysian currency has fallen 1.37% so far this month, adding to the 2.8% loss happened in May.

In April, the unit had made a good reversal, moving off the 6-year low in March, and had hit a 3-month high of 3.5315, but now these gains have been erased almost entirely.

Technically, the USD/MYR pair has strong resistance near the 3.75 area which it failed to break through in March. In 2009 too, the attempt to break above that region failed at 3.7550. So breaking that level will push the ringgit to its lowest since early 2006.

Charts also show that the chances for the ringgit plunging to a nine-year low remain technically strong as long as the USD/MYR pair holds above the 3.65 region.
http://www.ibtimes.co.uk/malaysian-ringgit...aunting-1504560

At the height of the 1997/98 Asian financial crisis, the ringgit hit a high of 4.7125 against the US dollar on Sept 1, 1998

At the height of the 1997/98 Asian financial crisis, the ringgit hit a high of 4.7125 against the US dollar on Sept 1, 1998

The Malaysian ringgit hit a nine-year low against the dollar on Monday after strong US employment data bolstered expectations for an interest rate hike by the Federal Reserve before year-end.

The ringgit hit 3.7510 versus the dollar, its lowest level since February 2006 according to Thomson Reuters data. The ringgit last stood at 3.7500, down about 0.8 percent on the day.

At the height of the 1997/98 Asian financial crisis, the ringgit hit a high of 4.7125 against the US dollar on Sept 1, 1998

MYR 3.7673 now 

http://www.bloomberg.com/quote/USDMYR:CUR

End of the month rm3.80

who knows end of the week reach that level 

who knows end of the week reach that level 

no point worrying too much.

nothing u and i can do.

even our powerful politicians and bankers can do nothing but watch now.

better prepare for 4.0 by year end.

this week, better go buy yr fav imported food, imported phones, etc. fast.

i better go change my 4 botak tyres tmrw.

these prices will go up 10% + GST very soon.

i better go change my 4 botak tyres tmrw.
these prices will go up 10% + GST very soon.

and buy more stocks of exporters with massive USD revenue

U use Continental?

no point worrying too much.

nothing u and i can do.

even our powerful politicians and bankers can do nothing but watch now.

better prepare for 4.0 by year end.

this week, better go buy yr fav imported food, imported phones, etc. fast.

i better go change my 4 botak tyres tmrw.

these prices will go up 10% + GST very soon.

and buy more stocks of exporters with massive USD revenue