Six Ringgit to the Pound ?
 

Fancy Six Ringgit to the Pound ?

The exchange is about MYR 5.96 to GBP 1 today, the highest Sterling has been for 3 months.

JC3

Re: Six Ringgit to the Pound ?
 

So...is this Sterling strong, or Ringgit weak? To do with Brexit?

Re: Six Ringgit to the Pound ?
 

On May 18, a poll released by Ipsos MORI suggested an 18 point lead to the 'In' campaign, with the UK public significantly favouring to remain in the EU, with 55% of those polled voting 'remain' compared to only 37% voting 'leave'. Following the announcement GBP strengthened significantly with cable rallying over 200 pips to break above 1.46.

Although economic data will continue to influence GBP, news and developments regarding the UK's EU referendum is likely to remain the primary driver of price action and sentiment leading into the referendum on June 23.

At least so says FXStreet - #GBP Analysis - 20th of May

JC3

Re: Six Ringgit to the Pound ?
 

The MYR has slipped about 5% against the USD in the last month.

Re: Six Ringgit to the Pound ?
 

(In my opinion) US Federal Reserve will most likely raise Interest Rates in June. This should raise the value of the US Dollar. Also slowing economic data from China has impact. Will China devalue it's Yuan to make it exports more appealing ???
Not sure about the Brexit, but if anyone is planing on making Large purchase's in the near future, it couldn't hurt to do a little research on what the "Experts" are predicting.
It certainly makes doing the conversion math easier.

Re: Six Ringgit to the Pound ?
 

The MYR seems to have had a strongest point in April and is since then sliding somewhat, for GBP, USD and EUR:
1 GBP: from 5.5 to 5.94 MYR (up 8%)
1 USD: from 3.84 to 4.10 MYR (up 7%)
1 EUR: from 4.39 to 4.57 MYR (up 4%)
I am not sure whether Brexit has any influence.
I was under the impression that the MYR is more or less coupled to the price of crude oil, and thus to the USD as oil is paid in USD. Oil price increased from 40 USD in early April to almost 48 USD now. However, that 20% increase is not visible in the above exchange rate changes. So probably I'm wrong about this.

Re: Six Ringgit to the Pound ?
 

SushiFan, don´t forget 1MDB, that was maybe even more important than the oil price when we saw these wonderful 1€ - 5,0 MYR last autumn ;)

At the moment it is mainly about the economic figures for 2015, that were published last week. They were not good with overall revenue going down and debts raise more than expected.

But I would not be too optimistic that we see the 5 for 1 again, 1MDB is mainly "solved", oil and palm oil price stabilizes, Najib successfully turned down the Dr. M. Movement and BN had landslide victory at the Sarawak election last week.

I don´t think the "Brexit" has any influence.

Re: Six Ringgit to the Pound ?
 

I was just updating my finances today and noticed on Coinmill that it was 6.1. I hope all you Sterling-watchers have noticed :sneaky: