Monday, 19 December 2016

Ringgit Malaysia. Bloodstream

Is the 2015 monster hit by Ed Sheeran and Rudimental.

There was a *Bloodstream* yesterday when the Ringgit sank ringgit  to 4.4805 against the U.S. dollar, the lowest level since the 1998 Asian Financial Crisis.

Societe Generale,  now says the ringgit is starting to look really cheap as Malaysia is a net oil exporter .

With oil prices  surging 15 per cent since the landmark OPEC deal in November, the French bank estimates the Ringgit is  almost three standard deviations from its historical averages when benchmarked against oil prices.

Being almost three standard deviations from its average means any further weakness relative to oil would see the ringgit trading at levels that would be likely to occur less than *ONE PERCENT* of the time .