Ringgit and your wealth

THE ringgit performance against the US dollar and some other major currencies is weakening and its effects are felt across the different groups and sectors of the economy, including our purchasing power if we continuously buy in the foreign currency.

Last Friday, the ringgit was hovering around RM4.70 to US$1. On the same day, the local currency set a new record low against the Singapore dollar at RM3.30 to S$1.