Friday 6 January 2017

Othman Aziz. Broken Record

Is the 2010 hit for the Plain White T's, taken from the album Wonders of the Younger.

Othman Aziz is meanwhile the deputy finance minister 1, who said this week that the Ringgit will be 4.10 against the US Dollar, come September.

We, don’t know what Othman Aziz smokes, but the Asian Development Bank shoots back, to curtail this Broken Record.

The Malay Mail, has the story. Read Below :

KUALA LUMPUR, Jan 7 ― It would be a long shot to predict that the ringgit would recover by the third quarter of 2017 ― let alone at a value of RM4.10 against the US dollar ― market observers said.

According to Asian Development Bank’s lead economist on trade and regional cooperation Dr Jayant Menon, the US dollar is currently appreciating against most Asian currencies and it would be over-ambitious to expect the ringgit to buck this trend.

“An improvement in commodity prices in general, and oil in particular, could stem the decline [of the ringgit to a certain extent].

“But domestic uncertainties relating to fiscal and other conditions especially related to the stronger US dollar will likely limit the strengthening of the ringgit,” he told Malay Mail Online.

Socio-Economic Research Centre executive director Lee Heng Guie shared the same view, saying that the ringgit would remain under pressure throughout the year.