Ringgit has another forecast… RM3.80 by end of 2024. Can happen?

Ringgit has another forecast… RM3.80 by end of 2024. Can happen?

It has been a never-ending positive story for ringgit thus far, at least for the past many weeks. Every other week, we see the ringgit appreciating (actually it’s more of US$ depreciating) and then more good news come. Then, the following week, ringgit reaches a new high versus US$ and then we read more predictions / forecasts. Now, the latest one I read is that by the end of 2024, we will reach RM3.80 to US$1. This is like wow…

What would I do if we indeed will hit RM3.80 to US$1?

Let’s fly to the US? Just kidding. Haha. I flew 16 hours just to reach Los Angeles from Singapore just back in August. Yes, I do have the 10-year visa but if we indeed hit this number, then it also meant that those currencies which used to follow US$ in going up will not follow US$ in coming down versus ringgit too. In other words, a lot of other countries we could go lah. Perhaps go to Bristol with my wife and visit our university together since our graduation way back in 1998.

Okay, spending money aside, another choice is of course to buy some US stocks and just enjoy the potential price appreciation when the US$ recovers. The Federal Reserve cannot cut rates forever yeah. Currently, it is cutting to support growth, previously it increased those rates to fight inflation. So, once the US economy moves up again and inflation shows that it’s coming back, then the cycle will repeat itself. Federal Reserve will also be back to counter inflation. Economics, how interesting. Happy deciding.

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