It was reported in Business papers on 21st March, 2007, that Malaysia has eased foreign exchange rules and the Ringgit strengthen more from that. Well, that may be good news to people who have to remit money out of the country, either for purchases or for their children's tertiary education overseas, but for etraders who do more international business than local, this is not so good.
Of course, on the whole, it is better to have a stronger Ringgit and having the Ringgit at 3.47 to a Dollar currently compared to 3.8 to a Dollar is better when we are sourcing for our products overseas.
On the other hand, people who sell local products to overseas of course would prefer the Ringgit at 3.8 to a Dollar. I would too. But I guess to be able to gain from the exchange, we can't complain too much. At least it is better than ten years ago when the Ringgit was only 2.6 to a Dollar!
Of course, on the whole, it is better to have a stronger Ringgit and having the Ringgit at 3.47 to a Dollar currently compared to 3.8 to a Dollar is better when we are sourcing for our products overseas.
On the other hand, people who sell local products to overseas of course would prefer the Ringgit at 3.8 to a Dollar. I would too. But I guess to be able to gain from the exchange, we can't complain too much. At least it is better than ten years ago when the Ringgit was only 2.6 to a Dollar!
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