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#1
30-07-2013, 07:00 PM
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Sing Dollar vs Ringgit M'sia... new lows
An honorable member of the Coffee Shop Has Just Posted the Following:
 Ringgit climb hill eat grass liau..... SINGAPORE: The Malaysian ringgit has weakened to a 15-year-low against the Singapore dollar. It has been on the steady decline against the Singapore dollar and the US dollar since May when the US Federal Reserve mentioned it could start tapering quantitative easing by the end of the year. Experts said the currency should be bottoming out soon but in the meantime, it might be a good time to invest in Malaysia. On Monday, the ringgit hit 2.5485 against the Singapore dollar, its weakest point in 15 years. Experts said the ringgit could be testing a new low and that it reflects Malaysia's slowing growth and Singapore's upside surprises. Philip Wee, a currency economist at DBS, said: “I think against the Singapore dollar, we are probably near the bottom of our price channel. In the past couple of times when it tested an all-time low, it dropped about 50 pips or 1.3 per cent below the last low. Given the last low from what we have seen last year, it should be around or just below the 39 cents level against the Singapore dollar.” Experts said Malaysia's growth over the next six to 12 months is likely to be more domestically focused which could provide some resilience to the currency. In the meantime, analysts said now could be a good time to invest in Malaysia. cna http://www.channelnewsasia.com/news/...ar/759982.html Click here to view the whole thread at www.sammyboy.com. 
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