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A few of us were having a discussion about the strength of the Pound Sterling over the weekend. I have been keeping loose tabs on the British currency, checking up on it every other week, and it’s been steadily rising through the months. The Monthly Statistical Bulletin for June 2006 published by Bank Negara Malaysia (BNM) showed a steady growth from RM6.59 on the 1st up to RM6.73 at the month’s close. The same is true of July where it closed around the RM6.85 mark. I haven’t checked the currency in a fortnite but we were speculating that it was probably dropping due to the recent foiled bomb plot at Heathrow and subsequent police probes. It turns out that the reverse is true.

BNM cites an exchange of RM6.98 while Public Bank Berhad were selling the currency for RM7.06. The terrorist threat also affected other areas of the world economy as oil prices came under pressure and stock prices were decidedly marked down. Lock downs and increased security measures at airports across the globe have turned into logistical nightmares for passengers and aircraft carriers. Although the United Kingdom’s terror threat level has been downgraded from critical to severe, strict guidelines are still in place for hand luggage that can be brought onto flights.

With all the trouble going on, it is strange that the British Pound is actually growing against the Malaysian Ringgit. But then again, stranger things have happened.