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Ski
15-11-2005, 04:02 PM
Good news for us who have children in Australia studying.
The Oz $1 = Rm2.75.today, it used to be $1 to Rm 3 in the beginning of the year.

Would you think it will go down further? Any economists out there.

TQ

USJ27Resident
15-11-2005, 04:18 PM
Whatever... if the ringgit strengthen... means, probably the interest rates will be going up some time real soon... meaning, house repayments going up too... :(

Ski
15-11-2005, 04:21 PM
Whatever... if the ringgit strengthen... means, probably the interest rates will be going up some time real soon... meaning, house repayments going up too... :(

Hello
I am interested in the excahange rates.

Tq

kress
15-11-2005, 04:58 PM
Bank Negara is trying to keep it the way it is. To prevent "hot" money so they say... i wouldn't hope too much... but US has put pressure on china to evaluate their currency further and if china evaluates then i guess malaysia should follow suit.

Ski
15-11-2005, 05:07 PM
Bank Negara is trying to keep it the way it is. To prevent "hot" money so they say... i wouldn't hope too much... but US has put pressure on china to evaluate their currency further and if china evaluates then i guess malaysia should follow suit.


Thanks Kress.

isarahim
15-11-2005, 09:07 PM
Good news for us who have children in Australia studying.
The Oz $1 = Rm2.75.today, it used to be $1 to Rm 3 in the beginning of the year. Would you think it will go down further? Any economists out there.

This has very little to do with the RM.

The RM is following the US$. The US$ fell to record low levels against the Euro during early 2005. And the AU$ tends to follow the Euro rather than the US$. That's why you had the 1:3 ratio in early 2005.

But in recent months, the US$ has recovered against the Euro. The RM is still following the US$ and the AU$ is still following the Euro.

Hence, the net effect will be RM recovering against the AU$. And it will likely continue to do so at least until the US$ reaches 1.1:1 against the Euro.

Of course, if Bush does something stupid again so the oil price shoots up, or if there's another major hurricane, the US$ will start to fall again.

pucman
15-11-2005, 09:34 PM
Good news for us who have children in Australia studying.
The Oz $1 = Rm2.75.today, it used to be $1 to Rm 3 in the beginning of the year.

Would you think it will go down further? Any economists out there.

TQ

Some people has said that the ringgit will strengthen to 3.50 at year's end. It is nearly year's end, and it is still very close to 3.80. So not much difference,

I think the malaysian economy is weak, so strengtehning against the american dollar is highly unlikely soon unless china revaluates again.