Benefits of managed float

I read this on 23 July 2005, the Star newspaper.

"Quick Take: Benefits of managed float

• Foreign-denominated debts commitments reduced
  
• Cheaper to raise funds abroad (risks remain the same)
  
• Expectations of an appreciation in Ringgit may lead to higher foreign fund inflow
  
• Lowers imported price pressure; eases inflationary pressure
  
• More control over monetary policy
• Companies with costs in US dollar will see the cost reduced
• A flexible currency regime is good for economic management. Create a clearer investment atmosphere (I have my reservation on this.)
• Exporters may be worse off in short to medium term but will regain price competitiveness through lower price of imports
• Positive wealth effect and stronger purchasing power. Private consumption biggest winner"

What translated into personal financial planning are:

• Keep ringgit assets, reduce assets in foreign currency
• Weight more in good stock that will grow with economy, particularly those that would benefited from consumer spending

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