Since Bloomberg TV Asia deems it proper to monitor the exchange rate for USD/HKD, why doesn't it do the same for USD/MYR? After all, the Malaysian ringgit is back to its free-floating self after so long. The same could be said for the Chinese yuan, although it's nowhere near being a widely-traded currency. In time, perhaps, but for now, it would be highly informative if the ringgit could be monitored as it's the currency of a Southeast Asian economic power. In fact, it seems to be gaining strength even with the implied threat of Malaysian central bank intervention which has so far limited revaluation to 1.3%. Which, of course, is less than the yuan's 2.1% revaluation.
Posted by Emmanuel |