Ringgit Likely To Hover Around 3.05-3.07 | Ramblings of an e-trader

Tuesday, 11 January 2011

Ringgit Likely To Hover Around 3.05-3.07

The Ringgit dropped a little from a 13-year high against the US Dollar yesterday but it is still worrisome that the Ringgit is so strong. I'm saying so from the perspective of someone who earns more USD than spend.

Of course, if I were to buy my lingerie stocks from the US, I would be laughing but this is no laughing matter since I have stopped my lingerie business for the time being.

According to dealers, the Ringgit is like to trade at around 3.05 to 3.07 against the USD, which means that for anyone who is converting their USD to MYR, they wouldn't even be getting three times the amount after paying service fee and what not.


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