If we look at the big picture, the ringgit has been badly affected by confirmed as well as expected macroeconomic decisions in two of our major trading partners.

The possible increase in US interest rates around September will strengthen the dollar further - theoretically investors will pull money out of other countries and invest in US securities with higher returns now.

And on Tuesday when China devalued yuan against the dollar, the ringgit went down further.

But our ringgit to dollar exchange rate has been declining since the good days in 2010/11.

Commodities prices do contribute to the strength of our currency, especially when a significant percentage of our industries are either directly or indirectly linked to oil, palm oil and rubber.

Since 2010/11, the prices of the most important commodities that we produce and export crashed. These commodities are crude oil, palm oil and rubber.

Price of crude palm oil fell 47 percent since 2011. Palm oil peaked and was traded at RM3,811 per tonne in February 2011. In August this year, it is traded at RM2,034 per tonne.

Price of SMR20 rubber fell 69 percent since 2011. At its peak, SMR20 rubber was traded at RM16.89 per kilo in February 2011. In August this year, it is at RM5.16 per kilo.

As we all know by now, price of crude oil (Tapis Blend) crashed as well. For the period 2011-2014, crude oil was traded at above US$100 per barrel, peaked at US$119 per barrel in 2012. In July this year, it was US$59 per barrel, which represents a 50 percent drop in crude oil prices.

Notice how the change in prices of our commodities relate to the exchange rate.

In 2011 when crude palm oil price was trading at a high of RM3,811 per tonne and rubber was RM16.89 per kilo, the value of exports from these two commodities alone were RM74 billion.

Again, today, the prices of both commodities - palm oil and rubber - are 47 percent and 69 percent lower.

When crude oil was above US$100 per barrel in years 2008, 2011, 2012, 2013 and 2014, the value of our crude oil and condensates export were between RM32 billion to RM 44billion.

Again, the price of crude oil per barrel in July has halved from the previous years, and should come in a few percentage lower in August.

The above does not include export value of derivatives and value added products as well as supporting and related industries that supply goods and services to other commodities-producing countries also.

Not the sole factor

Prices of commodities are not the sole factor for the fall in the ringgit value against the US$ but it is a contributing factor.

You may continue to read and believe emotional posts on social media and the politicians that by removing Najib Abdul Razak or Barisan Nasional, things will be better. That is your democratic right.

But the next time you see such posts online, why not ask yourself, your Facebook friend or the politicians a few questions?

If you are sworn in as prime minister tomorrow, will the ringgit strengthen by itself, will commodities prices swing upwards or what exactly are your plans to strengthen the ringgit?

Discuss or have a good laugh.

GOH WEI LIANG is a public sector and government consultant, a Malaysiakini subscriber and blogs at http://manifestogwl. blogspot.com