Did Ur remember The Asian Financial crisis in 1997? Our rm currency was being beaten up by Soros and our ex-PM that time imposed the Rinngit pegging to RM 3.80. Did you remember the famous word of Soros to ex-PM ' see you at 5.00.'
What does this all meant?
It meant at that time , the higher the quantity of rm being traded the less value the of the ringgit Ur will get if Ur exchange to every 1 us dollar.
Now the bear market of RM is over after the new PM has lifted up the pegging . It has relentlessly creeping up today's of rm 3.1985 meaning that Ur need rm 3.1985 to buy 1 us dollar compare previously Ur need 3.80 to get 1 us dollar.
The main reason why our currency is up is mainly due to weak us dollar and with good governance by our pretty Bank Negara Govenor. Why usd is weak Ur may ask ? Its mainly due its Triple Deficit problem they are having. Want to know what triple Deficit are?
Back to ringgit Malaysia, please klik to chart.All the details are there. The trend line up of RM is up but with little sign of fatigue for the short term. So enjoy the ride while Ur can ?But watch carefully like a hawk the internals and trendline.
Thanks for reading.
