Saturday, December 3, 2011

Malaysia’s Credit Rating and Ringgit Foreign Exchange Rates

Malaysian Ringgit

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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1 comment:

  1. 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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