A year ago, US$1 was equivalent to RM4.20. The local currency has depreciated about 6% in a period of one year. The comparison is made with the most recent set of data available as at January 2022.Īt present, the exchange rate is 4.45 ringgit to the greenback. It also means that the ringgit will get you fewer things if you were to go to the US for a holiday, or purchase an item online in US dollars. In other words, the ringgit is undervalued by 58.9% compared to the greenback, according to The Economist’s Big Mac Index. Well, it is only considered a discount if you’re earning an income in US dollars. THE next time you take a bite out of a McDonald’s Big Mac in Malaysia, which costs RM10, remember that you are getting it at a discount of 58.9% compared with someone who purchased the fast food chain’s iconic burger in the US for US$5.81.
0 kommentar(er)
