Ringgit DE-Pegged! Thank you China!
Glorious news. Glorious.
After 7 years of being under the RM3.80 to US$1 peg, Bank Negara announces that the Ringgit will be depegged and it value will be determined by a basket of currencies instead.
The news came soon after China announced the Yuan revaluation.
As a student abroad, depending on support from my family, this is very good news, as most definitely the Ringgit will strengthen as a result. Thanks to Jeff for the quick update.
I think mom and dad will be sleeping sounder tonight. As for me, I am treating myself with good friends in Singapore. Holiday, holiday. =)