British Pound and Malaysian Ringgit Exchange Rate

February 11th, 2009 stephen.wong

You can click HERE to calculate the latest Malaysian Ringgit CURRENCY EXCHANGE RATE.

Editor’s Note: This article is contributed from a reader who does not want to disclose his identity. Article is edited.
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I read with interest your post regarding Malaysian Ringgit sliding against the US dollar here:
http://www.limsimi.com/johor-bahru-business-and-investment/malaysian-ringgit-slide-against-us-sing-dollar/

I am a Malaysian currently residing and working in London, UK. I graduated 3 years ago in UK and currently work as a Civil Engineer.

When I departed for college education in 2003, the British Pound exchange rate against the Malaysian Ringgit was high, at about RM$7.2 against each Sterling Pound. Naturally, the cost of education in UK is a heavy financial burden but the idea back then is to work in UK after graduation, earn in pounds and save up sufficiently (after paying college loans) before returning to work in Malaysia one day.

When I last checked, the exchange rate of British Pounds to Malaysian Ringgit is now RM$5.2 = 1 Pounds. This means that my savings in pounds has effectively shed 1/3 of its value in Malaysian Ringgit. Likewise, my future earnings in pounds are equivalent to a “pay cut” in Malaysian Ringgit terms.

Some of my Malaysian friends here are fortunate to have converted their Pounds to Ringgit before the financial crisis struck late last year. I am intending to convert half of my British Pounds into Malaysian Ringgit just to lock in the value (in case British Pounds further depreciates).

So while the Ringgit has slide against the US Dollar, British Pound has fared much worse.

Anyway, thanks for the photographs in your website. Images of the Johor Zoo and City Square makes me feel like buying an air-ticket back home!

- Malaysian in UK

Editor:
Please refer to here for latest currency exchange rate.

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Entry Filed under: Business and Investment