Apalagi anda mau:Ada rakyat Malaysia tak puashati ringgit naik

YgBenar

The recent rise in Malaysia’s currency, the ringgit, has sparked mixed reactions among Malaysians, with some celebrating the currency’s recovery after nearing historic lows, while others are concerned about the diminishing purchasing power of their income.

The ringgit is on track for its best quarter since 1973, having appreciated more than 12 per cent against the US dollar, making it the best-performing emerging market currency, according to a Bloomberg report.

Trading at 4.12 ringgit to the US dollar on Wednesday afternoon, it has already surpassed economists’ expectations of closing the year at 4.43.

For Malaysians, the exchange rate of the ringgit against the US dollar, as well as regional currencies like the Singapore dollar, and the Thai baht serves as an indicator for how well the economy is doing and reflects confidence in the government.

Supporters of Prime Minister Anwar Ibrahim see this as evidence of his financial acumen which is pivoting from relative political stability after years of turmoil.

Speaking to This Week in Asia, Mohd Afzanizam Abdul Rashid, the chief economist at Bank Muamalat Malaysia, said the stability has facilitated more effective policymaking and implementation, boosting confidence in the ringgit.

“This has created better reviews by the credit rating agencies and global investment banks,” Afzanizam said.

This follows a turbulent time in Malaysia, which saw the country embroiled in the 1MDB corruption scandal involving the embezzlement of billions under Prime Minister Najib Razak, which dented the country’s reputation worldwide.

Najib’s election defeat in 2018 triggered a period of chaos as three prime ministers came and went over five years, damaging economic planning and continuity.

In the current context, Afzanizam said that while the sharp appreciation of the ringgit represents a vote of confidence in the Malaysian economic prospects, the main trigger has been the US Federal Reserve’s recent rate cut of a larger-than-usual half-percentage point.

China’s central bank similarly cut its medium-term loan rate a day after Beijing’s broad policy easing measures to boost a weak economy, further bolstering the ringgit and other currencies.

While many Malaysians are rejoicing in the ringgit’s appreciation, economist Aimi Zulhazmi at the University of Kuala Lumpur warned that the currency’s rapid appreciation might adversely affect the economy.

“What is important is the economy’s stability,” Aimi said.

However, the stronger ringgit has negatively impacted individuals whose income is derived from foreign sources.

“This is a blow to my monthly income as a gig worker who relies on multiple projects in foreign currency to make a decent income,” freelance writer Amelia Anjali Menon, 27, told This Week in Asia

Malaysian workers in Johor Bahru are also cautiously watching the situation. The ringgit is up 6 per cent against the Singapore dollar, from 3.47 on June 28 to 3.25 on September 20.

Singapore’s stronger currency has been a prime motivator for more than 300,000 Malaysians who cross the border into the island city state daily for work, making it one of the busiest transnational land crossings in the world.

Across the region, the rise of the Thai baht, in line with the ringgit, has posed challenges for Thai exporters, prompting calls for the central bank to intervene and cut interest rates to protect exports and tourism, crucial components of Thailand’s US$500 billion economy.

Malaysia, which similarly relies on tourism for almost 9 per cent of its GDP, has yet to see any impact of the strong ringgit.

Nigel Wong at the Malaysian Association of Tour and Travel Agents (MATTA) said there have been no complaints yet.

“There is not much we can say about this yet,” Wong said. “Tourism numbers and effect usually take time to reflect.”

Source: https://www.scmp.com/week-asia/economics/ar...ome-blow-others

snowflakes

Biasalah tu. Sekarang ni dok bising ringgit mengukuh bukan boleh turun harga barang pun.

white_musk

Sebab gaji depa dalam usd atau sgd kot

green~tea

Syukur alhamdulillah... sapa plak marah?

hyie

sebelum ni kan acik2 dok memekak kata bila RM nak naik? siap jadi bahan lawak lagi RM menjunam berbanding USD. Ujung2 bila RM dah makin mengukuh, terus kata jangan naikla apa la yadayada...kes ni sama macam kes ibu bapa yang memekak suruh mansuhkan UPSR lepas tu sekarang ni memekak balik suruh buat balik UPSR sebab anak2 dia makin bodoh. Itulah perangai caprut rakyat Malaysia. Bercakap tak fikir kesan jangka panjang. Lepas tu suka palatao. Adan uke..

cicicumel

Baca ulasan Isham Jalil...mcm risau plak risiko kenaikan mendadak RM ni.. silap perhitungan, RM crash.. hopefully x la

Apoo

hyie replied at 3-10-2024 10:54 PM
sebelum ni kan acik2 dok memekak kata bila RM nak naik? siap jadi bahan lawak lagi RM menjunam berba ...

Geng2 buta ekonomi mcm tu la. Paling penting, kuatkan fundamental ekonomi & kekalkan stability negara, yg lain biar kuasa pasaran yg tentukan.

Decaffeinated

Terserlah sifat munafiq sekor2. Lepas ni kalau nampak mengelupor lagi abaikan sahaja.

yenil95

yang tak puas hati ni sebab ada harta kat US kot. atau ada share saham kat sana.
Bila nak jual dapat duit rm rendah sikit.

Kitty_catz

ok la apa.. esp utk  mak pak yg ada anak kat oberseas sana