Most currencies devalued against USD lately, but Ringgit Malaysia (RM) has been the worst performing currency among South East Asia currencies. As of today, 1USD is equivalent to RM4.27 whereas in August 2014, USD/RM was 3.15; a total devalued of up to 35%. It is a good news if you are holding USD. But, as a Malaysian, our purchasing power had decreased.
While RM was strong few years back, we took the opportunity to travel overseas. Not only that, we converted RM to a basket of foreign currencies; SGD, AUD and HKD just to name a few.
We've converted our SGD back to RM and made a small profit. We are still holding our foreign currencies and not consider to add on for the time being, unless it comes to an attractive level. We will continue monitoring the basket of currencies and make decision according to market condition.
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