Saturday, 20 March 2010

Ringgit Hits 19-Month High

That's certainly bad news for many of us who are making foreign money but for those of us who are spending money overseas, that's good news.

After an amazing run that saw the Ringgit being traded at 3.2920 to the Dollar on March 12th, 2010, it slipped a little on concerns that China will tighten lending curbs to stem inflation. This move will temper the growth in Asian exports. China is Malaysia's biggest export market since January this year, overtaking Singapore.

Is a stronger Ringgit good news or bad news for you? Personally, I have funds moving both ways but I still prefer the Dollar to be stronger since I spend less overseas than I earn!

Posted by CyberPartyGal at 11:35 am