If BN has a convincing win in the next GE, ringgit will rally - at least the political risk will be gone.
USD/MYR v5
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 Feb 27 2017, 12:03 PM
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#1
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Senior Member
4,310 posts Joined: Aug 2013 
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Apr 26 2017, 06:29 PM
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#2
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Senior Member
4,310 posts Joined: Aug 2013
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please get back to 3.50 so that i can buy iphone at 2000
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Sep 8 2017, 08:23 AM
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#3
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RM4.1970
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Sep 8 2022, 07:53 PM
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#4
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QUOTE(beLIEve @ Sep 6 2022, 08:13 PM) Long term, MYR will always be down against major currencies. Everything has to do with confidence. When people don't have faith in the Ringgit and with expectation of further devaluation, it will become a self fulfilling prophecy. It's similar to a bank run. This post has been edited by Chrono-Trigger: Sep 8 2022, 08:10 PM |
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Sep 8 2022, 08:23 PM
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#5
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QUOTE(ericthai @ Sep 8 2022, 08:07 PM) A currency exchange rate is not determined by the country but by external demand. If most countries in the world see Malaysia as a country which cannot promote economic growth , high corruption (1MDB), political bickering (like what we have now), unstable govt etc . nobody wants to invest in MYR. external demand?A country can peg and try to defend a stronger exchange rate but it will lose a lot of foreign reserves defending a stronger exchange rate. Malaysia is now basically bankrupt to defend a stronger exchange rate. Everyday we see in the news , this political party court case, that political party winning or losing by-election but nobody actually wants to promote economic growth and reduce inflation. Real inflation is at more than 100% now. Retirees with no income are suffering. If I remember correctly reading one article, it says the current devaluation of ringgit isn't caused much by lack of external demand, rather - the exporters, investors holding on to their US Dollars account , and not converting back their proceeds from USD to Ringgit. It's the Malaysians themselves, the savvy ones, the richer ones (with extra money to invest and with investment to protect), that is having a bank run on Ringgit. no? |
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