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Salam Pagi Melbourne
Spore $ breached 3.50
USD approaching 4.80
Both are record high against ringgit.
If Anwar doesn’t act fast, ringgit will get bashed even faster as Msians get panicked and will remit out ringgit.
Based on what’s going on, I doubt if Anwar and his team can bring back the confidence in ringgit any time soon.
As revealed in its Budget 2024, the largest in Malaysia’s history, a mind-boggling RM303.8 billion has been allocated for operating expenditure (opex), leaving only RM90 billion for development expenditure. The government has to borrow RM86.2 billion, or 21.9% of the RM393.8 billion budget.
1.71 Mil civil servants salaries RM 95.6 billion another 32.4 billion for pensioners.
from
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Dopes borrow to pay for opex. Smarts borrow to invest for returns. Wither the Ringgit
Chickens have come home to roost with isi penuh policies. What a remarkable strategist Dr M is. True clown.
Even during periods of stability and economic growth, our Shrinking Ringgit (ShRinggit) keeps declining to historic lows against the USD, making it the second-worst performing currency in Asia since the 1997/98 financial crisis. This raises concerns about our currency's resilience in a real crisis.
I'm particularly intrigued by Singapore's currency strength, despite its lack of natural resources, reaching record highs against the ShRinggit. Could anyone shed light on this phenomenon?
Concrete actions, rather than just rhetoric, are needed to regulate the free flow of the ShRinggit. Many perceive that Bank Negara isn't taking sufficient measures to curb the ShRinggit's depreciation. It's not enough to attribute the issue solely to external factors; proactive steps are essential.
Kutty & Diam WILL be the ringgit saver when finally "return" ALL their family unexplainable assets 🍻🍻🍻
During the tenure of first three Prime Ministers, one Singapore dollar equal to one Ringgit. The Ringgit value destroyed during Mahathir tenure and deteriorating further. So it's not proper to blame PMX. Hope PMX make efforts to reverse so that in time to come the value of Ringgit would like tenure of first three Prime Ministers. Wondering how this fella Mahathir praised as "Bapa Pembangunan". My left foot.