Monday 2 January 2017

Ringgit Malaysia. Broken Wings

Is the 1985 monster hit for American rockers Mr.Mister taken from the hugely successful welcome to the real world album.

If we Welcome the Ringgit To The Real World, then it will probably open tomorrow at 4.49, against the US Dollar, in line with what is reflected on the NDF market.

The Ringgit has broken wings, there is no doubt to that. The Edge's Cindy Yeap writes here :
http://www.theedgemarkets.com/my/article/state-nation-will-government-bond-redemptions-2017-weigh-ringgit

All that could go wrong with the Ringgit, IE via bond redemption, yet strangely Yeap fails to mention that in 2017, the Malaysian Government has NO US dollar denominated redemption, and that's a VERY big plus for the Ringgit .

Is this an oversight by the Edge or is the 2017 plan, is to talk the Ringgit down to 4.60 ?  We shall soon find out, won't WE!!!