According to Standard & Poor, the long-term local-currency rating for Malaysia was cut to A from A+, with a stable outlook, while the foreign-currency rating was affirmed at A-. The downgrade has impacted negatively the exchange rate against other major currencies.
A weak Ringgit stimulates expert but discourages import. It will cost you more when your children are studying abroad or when you purchase items online at Amazon.
FOREIGN CURRENCY
|
*18/07/2011
|
28/09/2011
|
26/11/2011
|
US DOLLAR
|
3.00
|
3.18
|
3.22
|
STERING POUND
|
4.82
|
4.96
|
4.98
|
SINGAPORE DOLLAR
|
2.47
|
2.48
|
2.47
|
100 JAPANESE YEN
|
3.80
|
4.15
|
4.18
|
100 THAI BAHT
|
10.04
|
11.03
|
11.05
|
*http://www.exchange-rates.org/HistoricalRates/E/MYR/7-18-2011
You can view Standard & Poor's Credit Rating for each country here.
The following is the Standard & Poor’s ABCs of rating scales:
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I think this is good news to Malaysia's exporters. They will be able to price their goods more competitively in the world market because of it's weak currency.
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