The Ringgit closed the week at 3.3215 to the Dollar on Friday, making a decline of 3.7% over the week, the most since the Asian financial crisis in 1998. On Friday itself, it slid by 1.1%, slightly stronger than its weakest level at 3.3285.
Like any drastic currency movement, there will be people who are making a profit and there are people who are making a loss because of this. Analysts expect the Ringgit to trend even weaker this coming week because of the uncertainty in Wall Street and in the Yuan.
People who earn the Dollar shouldn't rejoice, I know, but I can't help thinking of the money that I lost from cashing out of PayPal earlier at the time that Ringgit was at its strongest levels in three years. It was like a gamble, you see. I was afraid that the Ringgit would continue to grow stronger like many experts have predicted.
Anyway, right now, I just wish that I have more funds in PayPal to withdraw to cash in on the weakness of Ringgit. Who knows what levels it will be at next month?
Like any drastic currency movement, there will be people who are making a profit and there are people who are making a loss because of this. Analysts expect the Ringgit to trend even weaker this coming week because of the uncertainty in Wall Street and in the Yuan.
People who earn the Dollar shouldn't rejoice, I know, but I can't help thinking of the money that I lost from cashing out of PayPal earlier at the time that Ringgit was at its strongest levels in three years. It was like a gamble, you see. I was afraid that the Ringgit would continue to grow stronger like many experts have predicted.
Anyway, right now, I just wish that I have more funds in PayPal to withdraw to cash in on the weakness of Ringgit. Who knows what levels it will be at next month?
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