I wouldn't know this if I didn't come across this letter from Goh Wei Liang on the Malaysian Ringgit here. Because people keep on bashing the government for the RM4.00 over a dollar thingy, I keep on asking myself, as a Malaysian who won't even go to the States or use their currency any time soon, will I be affected?
Taken from the letter :
Taken from the letter :
" Of course, when you have a narrow, myopic view,you will tend to miss out the fact that over the 5-year period :
- Russian Roubles lost 114% against USD
- Indonesian Rupiah lost 51% against USD
- Indian Rupees lost 38% against USD
- Norwegian Krone lost 37% against USD
- Australian Dollars lost 24% against USD
- Euro lost 20% against USD
- Thai Baht lost 10% against USDAlso, US is not our only trading partner and the performance of our Ringgit is not measured against US dollars alone. When we look at the Ringgit,
- we strengthened against Canadian Dollars (2%) ✮
- we strengthened against Indian Rupees (10%) ✮
- we strengthened against Japanese Yen (14%) ✮
- we strengthened against Indonesian Rupiah (18%) ✮
But the next time before you get upset and share your anger on Facebook or Twitter, ask yourself whether or not the Ringgit-Dollar exchange rate affects you, and how :
- Do you shop online from US websites?
- Are you planning to fly over to US for a holiday?
- Are you a Malaysian studying in the US?
- Do you import goods to be resold in Malaysia?
- Do you buy necessities and food from the US to use here?
- Do you at all use the US dollar in your daily life?
Because, my dear, only if you answer yes to the above, are you affected. Otherwise, what are you shouting and so worried about?
Your salary is still denominated in Ringgit and you don’t buy necessities in US dollars. There are no economists out there who are saying that Malaysia’s economy will collapse. Only the politicians are saying this.
On the bright side,
1. I do sell things online on Etsy so converting to Ringgit has been great so far.
2. I'm going to Japan, the rate is a bit lower now, great enough for me. Ditto Indonesia.
3. I don't buy things from the States.4. Even though people are saying that they don't have money, everyone is buying and selling more high-rise properties crazier than years before. So I don't trust your complains, guys.
5. We are not the only country losing to USD, there are also : Russian, Indonesia, India, Norway, Australia and so many more. And we are rising at the same time, yes?
PS : I don't know lah. I'm just trying to look at the bright side, too many people complaining on their social media sides, I feel like I'm bloating with hatred and complains from you guys. Come on. If you don't like the PM or the government or anything, be respectful and have some thoughts like a civilized people, you know where your manner should be. We are better than this. Or maybe we are not even close?
Image from Pinteretst