16 March 2008

Dollar depreciates against Ringgit

After I heard the news about gold price will soon be hitting US$1,200 an ounce in the later 3 months time, I went to check the currency converter at Maybank. USD currency had dropped USD0.1 .... Our Ringgit is appreciating right after leaving the long term contract between USA and Malaysia for holding the currency RM 3.80 = US$1.

Now our conversion is RM 3.09 = US$1

Seems like holding the USD currency notes will be causing more losses. If Ringgit keeps on appreciates, I will have a less burden in exchanging Ringgit to Sterling Pound. Right now converter shows that 1 sterling pound = RM 6.30 I would say it is getting way better than the last conversion I've made which was 1 sterling pound = RM 6.72 on September 2007.

If I am not wrong, the Ringgit appreciates and petrol price(US$) per barrel rising are happening at once, which means the burden to buy petrol per barrel is not cheaper than before....

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