Serious Singdollar rises to 3.09 ringgit: cheong JB now, huat ah!

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Serious Singdollar rises to 3.09 ringgit: cheong JB now, huat ah!

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11-11-2016, 03:30 PM

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Serious Singdollar rises to 3.09 ringgit: cheong JB now, huat ah!

An honorable member of the Coffee Shop Has Just Posted the Following:

SINGAPORE-JAKARTA - The Malaysian and Indonesian currencies plunged to multi-year lows on Friday on fears that higher US interest rates under President-elect Donald Trump would spark capital outflows from the region.

With the ringgit hitting its lowest in more than 12 years in offshore markets and the rupiah plunging the most in five years, the Malaysia and Indonesian central banks intervened to try to stem the flow of money out of stocks and bonds.

The ringgit's one-month non-deliverable forwards (NDFs) lost 3.7 percent from the previous close to 4.5395 per US dollar, its weakest since at least September 2004, according to Thomson Reuters data.

http://www.todayonline.com/business/...ump-presidency

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