Ringgit Malaysia: Revenge of the Fallen.

RM (Ringgit Malaysia) 100 notes, displayed in all its glory. | Photo by Today Online.
RM100 notes, displayed in all its glory. RM stands for Ringgit Malaysia. | Photo by TodayOnline.com.

Pardon the line taken from the Transformers 2: Revenge of the Fallen movie title, but if you accidentally stumbled upon a stash of hundred ringgit bills somewhere along the kerb, would you pick them up? Or will you think that it is a carefully-planned trap laid out by someone who will pounce on you the moment you bend down to pocket all that cash? Or will you ask yourself whether all these available dollar bills are even worth your effort in the first place?

I suppose your answer doesn’t matter now. Whatever your response may be, it couldn’t possibly come at a worse time than what is happening now to our Malaysian currency. In case you’re wondering, no, I didn’t come across any hundred dollar bills on the sidewalk. If I did, I would probably pocket it because whoever dropped it would not have noticed it until it was too late. And yes, I’d probably look around too, to see who is crouching behind the nearby bushes, waiting to pounce on an innocent girl like me.

On my last check-in to the Foreign Currency Exchange website, the Malaysian currency has fallen to an approximate of one US dollar (US$1.00) equivalent to four ringgit and thirty-three cents (RM4.33). So if you wanted to buy that exquisite and intricately-detailed galloping-horse figurine you saw on a website in U.S., you might want to rethink and reconsider your decisions. Whatever the amount was, it isn’t worth the idea of breaking your Malaysian bank account just for that one statue.

Like I was eyeing a coffee-based designer mug on Hey Shabby Me (they really have cool designer mugs and pillows, you can check them out if you can afford it), and it costs me US$13.00 to purchase it on their website. The amount in US dollars is not a lot if you compare it dollar to dollar, but after you convert the dollars to ringgit, the idea of paying RM56.00 for a mug doesn’t sound so tempting anymore.

There are a lot of reasons, I suppose, that are linked to the falling of our currency but I won’t be going into any details of it as I may or may not be right. There are some who say that the fluctuating oil prices also have a hand in our falling ringgit. And then there are some who may disagree with you and say that the unstable political condition in the country is the bigger problem that affects our currency instability.

Whatever your comments may be, they are not up to me to decide. All I know is that the dive-into-the-deep-end of our currency is making online purchases more challenging because once you convert, you give up chasing the item of your dreams. Unless you want to spend, that’s up to you. Even planning vacations is a challenge because some hotels deal in US dollars! I guess now would be a good time to focus on local travel and tourism. After all, Malaysia is always trying to promote local tourism via their ‘Cuti-Cuti Malaysia‘ scheme.

Visit the Official Tourism of Malaysia website for more information! We do have our share of spectacular beaches and superb sightseeing locations for tourists all over the world.

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5 thoughts on “Ringgit Malaysia: Revenge of the Fallen.

  1. Haha, tell me about it. I went to Los Angeles in April this year and the rate was still at a relatively affordable RM3.5+ to 1USD. I’m glad I didn’t wait sooner or I wouldn’t have been able to make the trip at all.
    I guess we’ll all have to just tighten our belts, because the currency is gonna swimming through some murky waters for a long time (if it doesn’t sink at the end, that is)

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    1. Hi Luna,

      Oh it is a good thing that your trip wasn’t so badly affected. Now it is RM4.30+ to 1USD! It’s crazy. I have to hold back my plans on overseas vacations for the time being. Malaysian destinations aren’t all that bad either, though. There are some great places that I’ve not been to, so maybe now is a good time for it πŸ™‚

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  2. The only way I see to help the country now is to aggressively promote the growth of tourism. With the low exchange rate, people would be more than glad to come and spend til their heart desires, in turn increasing jobs and revenue growth. Speculations that ringgit will continue to fall and I am afraid to see that happens..

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    1. That was what our PM said earlier but his statements probably came at the wrong time, or the way he said it made it sound as though we were expecting the currency to drop and then use it to our local tourism advantage. But I don’t doubt that more foreign tourists will come this year. After all, they get to spend much less! πŸ˜€ I just hope they stop falling soon.

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      1. Well, they made a mistake when 1 Oct they forgot to inform China that the Chinese do not have to apply for visa to visit Malaysia. Causing all Chinese tourists being turned back and forfeit their holidays. I hope it stop falling too. For the sake of everyone working and living in Malaysia.

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