The rising value of Ringgit has made buying items off the Internet much more cheaper. Recently, the ringgit closed at a new 13 year high against US dollar with the exchange rate of 2.96. It has taken more than a decade to strengthen below 3.00 against US dollar. Obviously, it is fully depend on US economy which brightened the outlook for exports.
As we can see that while the ringgit has strengthened against US dollar, it has weakened against euro, Australian dollar, pound and yen. If compared to last year 2010, the Ringgit Malaysia is one of Asia’s best performing currencies as it has appreciated by 9.2% against the US dollar, 11.94% against the British pound and 15.73% against the euro.