I am wondering, should we change our USD to MYR at this moment? Or should we keep and wait for the price to go up?
If you think USD will appreciate later, then just keep it. If you think USD will depreciate later, then sell it off now and you can buy it cheap later. I speculate that the dollar will appreciate in value somewhere near the future.
My view: Since it is 3.6 now, it isn’t a good idea to sell it off. For currency, it will never drop to zero because a country can never go bankrupt compared to buying shares. It depends on how much you bought your USD for. So, for now, just wait patiently for inflation to settle.
You are saying, the less advanced is a country’s finance, the less affected they will be to this credit crunch crisis. Malaysia being less advanced than US will be less affected by this crisis either.
Where Can Check Latest Foreign Currency?
Normally I like to check it out at The Star online business section as the rates are issued and updated daily by Malaysia Banking.
Comparing All Types of Currency
As we can see now, MYR, Sterling Pound, Australian and NZD are all down. USD is up because of its unique position. They print a lot because the whole world uses USD as their trading currency.
My view: AUD dollar will be continue to rise. Even they suffer from current economic crisis but remember that their economy is still much stronger than US or Europe. Their currency drops so much last October & reach its historical low. Expect it to be bounced back soon. If you want to buy then better do it slowly & buy during dip.