The exchange rate from the US Dollar to the Malaysian Ringgit this morning is below the RM4 level for the first time since July 2015. Early this morning, the value of $1 was equal to RM3.96 and at the time of writing the article has increased all the way to around RM3.971. In June 2015, the value of $1 was equal to RM3.823 with the value of the Malaysian Ringgit increasing again over the past few weeks. The increase in the value of the Ringgit is good for consumers with the last time this happened, the selling prices of some products have become more affordable.
This is driven by political instability in the United States. President Trump wants to seize Greenland by force, causing the European Union (EU) country to send troops to defend it and begin discussing reducing trade with America.
Canada is strengthening trade with China with the Prime Minister of Canada saying "Canada does not live because of the United States. Canada thrives because we are Canadians". Trump threatened a 100% tariff on Canada if the deal with China continues.
In addition to causing turmoil in the US stock market, Trump's actions and threats also caused the value of Bitcoin to drop sharply below $87,000 last weekend.
