It seems that the Malaysian Ringgit did not devalue as badly as many think it did. Apparently, from 1990, the currency did drop to a concerning RM2.34 today, but most feel that the drop is significantly worse. However, the costs of goods increasing are in lieu of the new taxes, wages, currency exchange rates and possible corporate greed.
Devaluation calculator showing Ringgit did not fall as much from 1990 to today
However, some users claim that RM1 in 1990 is actually worth as much as RM5 today. This is due to the fact that the purchasing power has relatively dropped significantly for most Malaysians. School children would bring around RM1 to school back in the day, but kids today would need at least RM5.
Some users claim to have gotten RM0.20 for “duit raya” back in the day. Regardless, inflation and rising cost of goods is not a problem mutually exclusive to Malaysia. The United States is arguably hit worse than Malaysia when it comes to inflation and costs of goods.
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