tag:blogger.com,1999:blog-416176053105107250.post9173206832994192918..comments2023-12-13T04:37:30.381-08:00Comments on tonyhiicom: Najib Tun Razak - Our Next Prime MinisterTony Hiihttp://www.blogger.com/profile/13524144958121042867noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-416176053105107250.post-5264707437423679062008-11-04T21:43:00.000-08:002008-11-04T21:43:00.000-08:00daniel, thank you for sharing.daniel, thank you for sharing.Tony Hiihttps://www.blogger.com/profile/13524144958121042867noreply@blogger.comtag:blogger.com,1999:blog-416176053105107250.post-12621521075313028502008-11-04T20:23:00.000-08:002008-11-04T20:23:00.000-08:00Bank Negara Malaysia (BNM) is estimated to have sp...Bank Negara Malaysia (BNM) is estimated to have spent US$12 billion (RM42.4 billion) during September to defend the ringgit, said Moody’s Economy.com. <BR/><BR/>Moody’s said the ringgit was among Asia-Pacific currencies that had depreciated despite current account surpluses, the others being the Singapore dollar and Philippine peso. “Sound current accounts may have created a bottom for these currencies and they have ‘only’ depreciated by 5% to 10% since June,” Moody’s Economy.com economist Tine Olsen said in her report yesterday.<BR/><BR/>She said other currencies in the middle group had fallen because of deleveraging, while those experiencing the biggest depreciation, including South Korea, Indonesia and India, also struggled with current account deficits. <BR/><BR/>Olsen said Asia-Pacific currency markets had been driven recently by the liquidity squeeze and by current accounts as risk-averse investors moved funds from high-risk markets to safe havens to avoid losses, and also to preserve liquidity.Linghttps://www.blogger.com/profile/01773937369977055685noreply@blogger.com