With uncertainties looming in the world financial market and the recent developments in US, Malaysia is once again been urged to consider re-pegging the Ringgit in the hope of stabilising the economy in the wake of falling US dollar against other currencies. Back in 1997/1998, the Ringgit was pegged to the US dollar at RM3.80. Since the unpegging, we have been floating at a rate of RM3.459 against the US dollar. It is said that the pegging of the Ringgit will help to sustain the economy amidsts the global economic crisis.
Will it? I’m not sure how it’ll work but if the pegging is to be anywhere near the RM3.80 some ten years back, then it’s definitely not helping much. It was mentioned that a revaluation of 10% should be looked into and if that’s the case, then we are going to be pegging the Ringgit almost at RM3.80 to a US dollar again. Is that going to help?
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Nice site. There?s some good information on here. I?ll be checking back regularly.
Thanks, Stacey!
It makes sense to me lol