Good News for Consumers as Ringgit hits 13-year High @ 2.9960

PETALING JAYA: Malaysians can look forward to paying less for imported goods with the ringgit strengthening to its highest level in 13 years.

Economists expect the ringgit to steadily appreciate against the US dollar with several predicting the local currency would strengthen to between 2.95 and 2.90 against the greenback in the coming months.

RAM Holdings Bhd chief economist Dr Yeah Kim Leng said the ringgit was projected to hit 2.93 against US$1.

As of the last trading day, the exchange rate stood at RM3.01 to US$1. It reached a 13-year high of 3.0290 on Feb 4.

This is the strongest level the ringgit has been at since the 1997/98 Asian financial crisis, when it was pegged to the US dollar. Dr Yeah said the strengthening of the ringgit went hand-in-hand with the weakening US dollar.

A stronger ringgit, he said, meant imported goods would be cheaper while boosting overseas purchasing power and savings on overseas education and travelling.

pagi ni dah break 3.000 level pun..cepat sungguh ~ 2.9960

Ringgit Dijangka Cecah RM2.20 Berbanding Dolar AS Menjelang 2012: MIA

KUALA LUMPUR: Ringgit dijangka mencecah RM2.20 berbanding dolar AS menjelang 2012, berikutan pengukuhan berterusan mata wang tempatan itu, kata Presiden Persatuan Pelabur Malaysia (MIA), Datuk Dr P.H.S. Lim.

"Ringgit, serta mata wang Asia yang lain, semakin menarik dan laris disebabkan oleh masalah kewangan selanjutnya dalam kesatuan Eropah dan memomentum ekonomi AS yang semakin perlahan," katanya kepada Bernama di sini hari ini. Lim berkata keluaran dalam negara kasar Asia dijangka mencecah 7.1 peratus berbanding purata global iaitu 4.8 peratus bagi 2011. Beliau berkata Rizab Persekutuan AS sedang menyerap bil Perbendaharaan bernilai AS$600 bilion dan pada masa yang sama, mencetak lebih banyak wang kertas baru.

"Ini menyebabkan beberapa kerajaan menyarankan emas digunakan sebagai rizab, sekali gus menyebabkan harga emas melonjak ke paras tertinggi dalam sejarah pada AS$1,364 bagi seauns," katanya.

Lim berkata, kerajaan AS terus memberikan tekanan kepada China untuk memperkukuh renminbi agar barangan China kurang berdaya saing.

Bagaimanapun, kata Lim, mata wang bukan satu-satunya faktor dalam pengeluaran dan perkhidmatan.

"Upah AS terlalu tinggi dan merupakan 60 peratus daripada keseluruhan kos pengeluaran dan perkhidmatan," katanya sambil menambah bahawa perang perdagangan dan mata wang saling berkait.

"Kita telah melihat perang perdagangan AS-Jepun dalam tahun-tahun 80-an dan sejarah sentiasa berulang. Sesetengah negara mencadangkan agar mata wang Amerika digantikan sebagai mata wang dan rizab antarabangsa," katanya.

Malah, banyak bank pusat meletakkan rizab di bawah nilai mata wang lain dan emas, katanya.

Beliau berkata pengurus dana, pelabur antarabangsa terus membeli emas dan wang panas memburu aset Asian dan Brazil, Russia, India dan China, hingga mencetuskan kebimbangan tentang inflasi.

Lim berkata, EU menghadapi satu lagi pusingan krisis kewangan dan memerlukan 440 bilion (1 Euro=RM4.14) bagi langkah-langkah menyelamat anggota-anggotanya yang dibelenggu hutang.

EU dan tabung Kewangan Antarabangsa telah menubuhkan dana bernilai 750 bilion untuk membantu Greece pada Mei, katanya.

"Kini Sepanyol menghadapi kemungkinan berlakunya krisis kewangan. Beberapa negara anggota tidak begitu gembira untuk menyediakan dana tambahan bagi kestabilan kewangan Eropah.

"Keadaan ini mungkin mendorong mata wang dan harga emas di Asia meningkat lagi," katanya. - BERNAMA 

waa dasat tu 2.20..kalau ikut fundamental mungkin ya..tapi macam2 faktor la forex nih..baru nak perang kat korea..abis investor lari balik US..dah ringgit weaken balik sampai 3.15 dari 3.09

Re-peg The Ringgit: Dr M

should we repeg our ringgit? kali ni kalau repeg maybe at lower level la kan compared to last time at 3.8000 aku tak sure lah how it works bila repeg ni ..tapi kalau tak peg jenuh jugak bank negara asyik nak intervene kalau ringgit weaken kan..dah berapa byk tuu

ALOR STAR: Former Prime Minister Tun Dr Mahathir Mohamad said Malaysia should re-peg the ringgit to relieve pressure from the global economic crisis. Stabilising the exchange rate would be one measure the Government could take immediately, suggested Dr Mahathir, also a former finance minister.

Malaysia has the capacity to determine the value of the ringgit because it has sufficient foreign currency and substantial savings, with the Employees Providence Fund alone holding more than RM200bil in its coffers.

“We shouldn’t float the currency. The country would lose money if the currency is vulnerable to external forces,” he said at a press conference after presenting a keynote address at a national-level seminar on Development of Higher Learning Institute on Saturday.

He was asked on what advice he had for newly appointed Finance Minister Datuk Seri Najib Tun Razak to cushion the impact of the economic slowdown in developed countries on Malaysia.

He said if Malaysia could strengthen the value of the ringgit by 10% (by pegging the ringgit to the US dollar), the import value should depreciate by 10%. Full Article