I read on Business Times yesterday that due to a new Cabinet line up, investors may now have a renewed confidence in the Malaysian economy that they will be taking up new positions on Ringgit, strengthening the currency.
According to analysts, the Ringgit may test 3.56 level next week. It closed at 3.6135/6185 on Friday.
Now, this is certainly not the news that I want to read about concerning the Ringgit. For me, the weaker the Ringgit, the better. Of course, while I do spend Dollar when shopping overseas, I really have to take into account if I am spending or earning more to benefit from the stronger Dollar, or stronger Ringgit. And at this point, I really would like to see a weaker Ringgit. And I know that many of my friends feel the same too!
And oh, by the way, I see no fresh faces in the new Cabinet. So, what renewed confidence? Maybe there is something wrong with my eyes.
According to analysts, the Ringgit may test 3.56 level next week. It closed at 3.6135/6185 on Friday.
Now, this is certainly not the news that I want to read about concerning the Ringgit. For me, the weaker the Ringgit, the better. Of course, while I do spend Dollar when shopping overseas, I really have to take into account if I am spending or earning more to benefit from the stronger Dollar, or stronger Ringgit. And at this point, I really would like to see a weaker Ringgit. And I know that many of my friends feel the same too!
And oh, by the way, I see no fresh faces in the new Cabinet. So, what renewed confidence? Maybe there is something wrong with my eyes.
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