Malaysian ringgit has been strengthening against the US$ since May.
During the Asian Financial Crisis (July 1997 - December 1998), Malaysian ringgit dropped to as low as Rm4.8848 to US$1.00 on January 1998. Since then the USD/MYR chart has formed a 5-wave wave A that ended on July 2011. It took another 5 years to complete a 3-wave wave B by December 2016.
From December 2016 to May 2020, wave 1-2 of its wave C.
From May's Rm4.3475 to US$1.00, ringgit has started to form the wave 3 of C and has strengthened to the current Rm4.1725 to US$1.00 level.
Within the next 10 years, by the time the wave C is completed, ringgit is expected to return to those good old days of Rm2.50 to US$1.00 before the Asian Financial Crisis.
Most probably the strengthening of the ringgit in the next 10 years is due to the long term weakening of the US dollars caused by the US Federal Reserve continuous printing of dollars to finance the ever expanding National Debts.
At this very moment the reading on the US Debt Clock is $26,658,296,540,245.00
Click 'US Debt Clock' to check the current reading.
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