Thursday, February 13, 2014

RE: The Ringgit Malaysia (RM) closed lower, the lowest in 24 years against the dollar

So whats new?
The RM (Ringgit Malaysia) is dropping, thats what! 

Based on the latest report article finding, the current Ringgit Malaysia (RM) rate is the lowest as to compared  to the United States of America's currency, which is the Dollar (USD) in all of 24 years of Malaysian history

Well, this is what happens when the country's finance is not controlled and managed smartly. Well, its a good boost for tourism anyhow! we gotta count our blessings and be "syukur" (thankful) in all situations and circumstances! 

Here is an article concerning the issues:


The english translated version:

The ringgit closed lower, the lowest in 24 years against the dollar
02/10/2014 - 20:05:02 PM
KUALA LUMPUR : The ringgit closed lower against the whole of the U.S. dollar as traders buy foreign currency holdings due to constraints in the market.

At 5pm, the local unit was quoted at 3.3390/3420 against the U.S. dollar at close Friday at 3.3290/3320 . But what is more noticeable is the fall of the ringgit against the Singapore dollar .

Dealers said interbank traders initially sell dollars for local dollars , but corporate demand for dollars to limit the increase in the local currency .

Then fell to 3.3390 dollars against the U.S. dollar in December Industrial Production Data weaker than expected.

It rose just 4.8 percent from the previous year , which was below forecasts of 5.4 percent growth .

Against the Singapore dollar, trading at its lowest level in 24 years .

The ringgit traded at 2.6300 today, falling nearly 80 percent against the dollar republic since 1990 .
Singapore dollar against the ringgit was traded at 2.6300/2.6340 from 2.6277/6259 closed last week .

Against the British pound , the ringgit fell to 5.4773/4836 from 5.4396/4465 at close on Friday.

The local currency also fell against the yen to 3.2668/2710 from 3.2624/2660 last Friday and fell against the euro to 4.5551/5602 from 4.5148/5195 last week .


The original version of the article:

Ringgit ditutup lebih rendah, terendah dalam tempoh 24 tahun berbanding dolar
2014/02/10 - 20:05:02 PM

KUALA LUMPUR: Ringgit ditutup keseluruhannya lebih rendah berbanding dolar AS apabila peniaga membeli mata wang asing itu berikutan kekangan pegangan di pasaran.

Pada 5 petang, unit tempatan itu disebut harga pada 3.3390/3420 berbanding AS dolar ketika ditutup Jumaat lalu pada 3.3290/3320. Tetapi apa yang lebih ketara ialah kejatuhan besar ringgit berbanding dolar Singapura.

Peniaga berkata, pada mulanya peniaga antara bank menjual dolar untuk mendapatkan ringgit tetapi permintaan korporat tempatan ke atas dolar menghadkan kenaikan mata wang tempatan itu.

Ringgit kemudiannya susut sehingga 3.3390 berbanding dolar AS ekoran Data Pengeluaran Industri pada Disember yang lebih lemah daripada jangkaan.

Ia meningkat hanya 4.8 peratus daripada tahun sebelumnya, yang mana di bawah ramalan pertumbuhan 5.4 peratus.

Berbanding dolar Singapura, ringgit diniagakan pada tahap paling rendah dalam tempoh 24 tahun.

Ringgit diniagakan pada 2.6300 hari ini, jatuh hampir 80 peratus berbanding dolar republik itu sejak 1990.
Dolar Singapura berbanding ringgit diniagakan pada 2.6300/2.6340 daripada 2.6277/6259 ditutup minggu lalu.

Berbanding pound Britain, ringgit merosot kepada 5.4773/4836 daripada 5.4396/4465 ketika ditutup Jumaat lalu.

Mata wang tempatan itu juga menyusut berbanding yen kepada 3.2668/2710 daripada 3.2624/2660 pada Jumaat dan turun berbanding euro kepada 4.5551/5602 daripada 4.5148/5195 minggu lalu.


Should we be worried? Well what we should do is be prepared and always ready for changes in the economy. No reason to give up now...let's continue to seek solutions and opportunity in these trying times and to rise above all!

It is indeed a good time to travel to Malaysia and see the beautiful of our nation. Even in times like this, opportunity knocks on the door of others who want to change their currency to ringgit Malaysia (RM). 

Come! Malaysia welcomes you! come!


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