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Assoc. Prof. Dr. Nuradli Ridzwan Shah Mohd Dali, Academic Team, Associate Professor, Capital Market And Wealth Management, Islamic Finance, Business & Management, Associate Professor, USIM
Ringgit can either appreciate or depreciate … now, who’s that stupid?
KUALA LUMPUR, Feb 24, 2024: Universiti Sains Islam Malaysia (USIM) Faculty of Economics and Finance lecturer Associate Professor Dr Nuradli Ridzwan Shah Mohd Dali was quoted by SinarDaily as saying if the ringgit surpasses the peak level of RM4.885 from 1998, it would enter uncharted territory.
"There are two possibilities for the ringgit: it could either continue to appreciate or depreciate after reaching its peak value…
Wow! What a revelation! Malaysians must be damn stupid!
Isn’t the professor stating the obvious? Where else can the Ringgit’s value go if not “appreciate or depreciate”?
No wonder I am not a professor.
What we do not know is what the professor really said or whether he was misquoted by the reporter.
Whatever, if the reporter had misquoted or misinterpreted what the professor said, then an apology is in order for making the professor look silly.
Also, the editor/s who cleared the quote for print is obviously incompetent.
What is most unfortunate is that, if the professor had really said “"There are two possibilities for the ringgit: it could either continue to appreciate or depreciate after reaching its peak value…”, then that reflects the standard of Malaysia’s education and thinking.
If that is the quality of our university lecturers, is it any wonder that Malaysia’s education system has failed, as said by no one lesser than Malaysia’s 10th Prime Minister Anwar Ibrahim.
No News Is Bad News reproduces below the SinarDaily report that quoted the USIM professor:
Ringgit at risk of entering "uncharted territory," warns economist
Ringgit may enter new crisis zone if it breaks past 1998 peak
22 Feb 2024 10:19am
Analyst suggested for tackling ringgit weakness by reducing import dependence. - FILE PIX
SHAH ALAM - The Ringgit Malaysia (RM) could potentially fall below its 1998 Asian financial crisis low of RM4.885 against the US dollar, entering uncharted territory, warns an economist.
Universiti Sains Islam Malaysia (USIM) Lecturer at the Faculty of Economics and Finance, Associate Professor Dr Nuradli Ridzwan Shah Mohd Dali said that if the ringgit surpasses the peak level of RM4.885 from 1998, it would enter uncharted territory.
"There are two possibilities for the ringgit: it could either continue to appreciate or depreciate after reaching its peak value.
"If the ringgit surpasses RM4.885 (the value during the 1998 Asian financial crisis), it will enter uncharted territory, which signifies a completely unprecedented area.
"This situation is concerning and risky because there is no historical precedent.
"When this occurs, it's plausible that the ringgit's value will remain low compared to the US dollar," he told Sinar when contacted.
Nuradli pointed out that although the ringgit's current value hasn't yet reached RM4.885, it has approached levels similar to those during the 1998 Asian financial crisis.
"The ringgit's strength or weakness is influenced by market dynamics such as supply and demand, interest rates, and inflation. - SinarDaily
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