Sunday, 4 December 2016

Ringgit Malaysia. Breathing

Is a major 2012 hit for Jason Derulo, taken from the album future history.

The Ringgit is BREATHING against the US Dollar at 4.44, as Bank Negara's move to force exporters to hold up to 75 per cent of cash flow from that business in Ringgit, is helping ease a DOLLAR shortage in Kuala Lumpur.

Still, Credit Suisse says the Future History of the Ringgit is still to close to call. This is what Credit Suisse had to say :

"We view these measures as positive for the ringgit in the short term and should help ease the current USD shortage," .

Still, the ringgit's long-term outlook remains uncertain, as :

"The extent of ringgit recovery will likely be capped by the broader USD uptrend, restriction in NDF (non-deliverable forward) trading, and ultimately the need for BNM to rebuild reserves."