One of the many reasons why ringgit is weakening is that our exporters do not bring back their revenue into Malaysia! Instead they squat it overseas in US dollar! Hence the superficial outflow of ringgit when in reality if exporters convert back to ringgit should see true reflection of ringgit value! I guess this is Rafizi job to punish this exporters! Forget PM Anwar! He is clueless and busy attention seeking from rakyat!
yup, most export business are their cronies and once they make banks, they use their monies to buy land and stuff overseas. Just raise the OPR already, country's gonna burn either way.. might as well make everyone feel the pinch
Why should I bring back my USD if I am an exporter? I get better return parking my USD overseas with higher interest rate and avoid depreciation of MYR.
The free flow of capital encouraged by US means that local monetary policies is no longer effective. You can keep raising your interest rates but your currency keeps dropping. But US with its huge commodity markets will see huge inflow of money as the world pour money to gamble there.
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Posted by FortuneBull777 > 2023-07-03 14:04 | Report Abuse
Investment!