Currencies
Beijing knew it could not make “Yuan” (Renminbi) an internationalized currency overnight, nor could it replace the U.S. dollar’s dominance in the global system with the Chinese currency. China has US$3.0549 trillion in foreign exchange reserves (end of August) – the largest in the world. About a third – US$1 trillion – of its foreign […]
... written on Oct 05 2022Before then-Foreign Secretary Liz Truss won the confidence of the ruling Conservative Party to become the United Kingdom’s next prime minister, she was vigorously campaigning on the anti-China platform. Both she and former Chancellor of the Exchequer Rishi Sunak were competing with each other to win the anti-Chinese contest. She beat Sunak by 81,326 to […]
... written on Oct 03 2022Australian Facebook users were extremely anxious and worried after the country’s central bank reported a jaw-dropping loss of A$36.7 billion for the financial year 2020-21. All hell broke loose after “Real Money”, a column owned by U.S. financial media The Street, screamed at one of its articles – “Australia’s Central Bank Says It Is Bust”. […]
... written on Sep 30 2022The Dramatic Evolution Of Digital Currencies: How Cryptocurrencies Are Changing The Future Of Money?
From Bitcoin to NFTs, and the metaverse, how cryptocurrencies are changing the future of money. Undoubtedly, we are on the path towards a new form of finance that’ll use a wide variety of tech advancements to change the way people use and manage one of the most important tools: cash. It’s obvious that we […]
... written on Sep 29 2022Ringgit officially breached the psychological RM4.50 to the U.S. dollar on Sept 13, 2022 – the lowest since the 1997-1998 Asian Financial Crisis. The Malaysian currency already plunged to its 24-year low on Sept 7 when it closed at RM4.5015 to the greenback. But for the next 3 trading days, it tried to pull back […]
... written on Sep 26 2022During the 1997-98 Asian Financial Crisis, Ringgit dropped like a rock. In fact, the crisis the swept Southeast Asian countries into currency chaos had forced the Malaysian currency to depreciate by about 80%, from RM2.50 to RM4.50 per US dollar. At its worst level, the currency plunged to a record RM4.885 per dollar in 1998, […]
... written on Sep 15 2022Ringgit has finally dropped 4.50 to a US dollar on Wednesday (Sept 7) – the lowest since January 1998, during the Asian Financial Crisis. The Malaysia currency plunged as much as 4.5038 before staging a rebound to 4.5017. As feared, once it breached the psychological 4.50 level, it would be difficult to return to previous […]
... written on Sep 08 2022Today, forex trading is very easy because accessing markets, information, and executing trades can be done through your mobile phone. If you have an internet connection and a device to access the internet through, you can trade any kind of currency from anywhere in the world. Trading, in general, is a great way to make […]
... written on Aug 01 2022Russia-Ukraine conflict has indeed wrecked havoc around the world. After Australian Prime Minister Scott Morrison and British Prime Minister Boris Johnson lost their jobs, partly due to the Ukraine war, Italian Prime Minister Mario Draghi became the third casualty who resigned on Thursday (July 14) due to a disagreement over how to respond to the […]
... written on Jul 16 2022Ringgit does not seem to be in a good position. The Malaysia currency is trading at more than 4.43 to a dollar – the lowest for the year, having plunged from 4.16 in January 1. Technically, its resistance is 4.50 – less than RM0.07 away. The last time the currency was trading at this low […]
... written on Jul 13 2022
