By now, many of us know that the MYR has fallen painfully for out Malaysian friends against the Sing dollar and the USD.
Further away, the Indian govt has just made 500 and 1000 rupee noted illegal tender.
Share what you think? And where will all this turmoil lead to? Is this the Trump effect?
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Terence Seah
When the rupee dropped to 67 yo 1 USD, my friends in India cried because they pay with US dollars.
A few days ago, I found out my 500 and 10000 rupee notes are no long legal tender
And our Malaysian friends are feeling down and disappointed, coming to Singapore.
What has happened?
Terence Seah
You can call the Trump effect if you like for some upheavals especially in the currency market. Since the America’s presidential election, the dollar has appreciated against a basket of rich-country currencies.
The greenback has rallied so much and what its strength might portend for the world economy. A strong dollar will expose the
vulnerabilities of many major currencies.
Currently the effect seems to be rather benign. For the past few weeks the major stock market indices have risen especially the Dow Jones, S&P, the Cac40, DAX and others.
Already quite a number have already congratulated the president-elect before his inauguration on January 20, 2017 thereby breaking the protocol.
It remains to be seen whether his presidential term of office will be plain sailing for impeaching of presidents can happen as we can see on President Richard Nixon and President Park Guen Hye.
No one is above the law.
We hope that for the sake of America and the world at large that Trump will be wise enough not to be involved in any illegal entanglement
Robert Ong
Hi Terence
Plse include me in this WhatsApp group.
I’m interested in financial news and it’s impact on my pocket.
I also had some Indian rupees which became valueless overnight. At first, I calmly waited to see how the Indian govt will handle my situation. After all, I’m just a tourist and not a money launderer.
But it looks like I have to kiss my rupees goodbye. Luckily I don’t have much but it is still painful to see my rupees become trash overnight
I have spoken to some of my Indian friends and they are also not confident that they will be able to change their old notes.