The ringgit of 'performs' is over, rising from the lowest position of 25 years!


 The Malaysian Ringgit (RM) currency is now seen to rise for the third consecutive day due to the decline in US NFP data deterioration and the monetary policy that will take place earlier than expected.

Previously, the ringgit was seen trading low for the past few weeks.

The NFP also saw a relatively slow increase in October, only 150,000 jobs were recorded. Meanwhile, the unemployment rate increased to 3.9%.

At 6pm yesterday, the ringgit was seen jumping to RM4.6340/6400 compared to RM4.7265/7320 on Friday.

Bank Muamalat Malaysia chief economy, Mohd Afzanizam Abdul Rashid, reported a monthly profit of 2.28% in the ringgit and made it the second best currency after Won, South Korea.

Won led another Asian currency on Monday as the stock jumped during the USD.

He added that any further improvement predictions depend on the Fed Meeting in mid -December.

The Singapore dollar currency was also seen rising from 3.4713/4756 to 3.4341/4388. Meanwhile, the Indonesian Rupiah increased from 300.5/300.9 to 298.1/298.7 last Friday.

Many think that this increase is due to mass boycotts and that the community is switching to local products.