Anwar and the Ringgit - a Photo collage by LatestMalaysia.com
The ringgit surged by 2.3% on Monday, marking its largest gain since October 2015, driven by optimism about Malaysia’s economy and expectations of foreign capital inflows.
The currency outperformed its developing market peers, including the Chinese yuan, after a prolonged period of decline. This boost comes as the Malaysian government focuses on attracting foreign investments and scaling back subsidies to reduce the budget deficit.
Read More Business News
Analysts suggest the ringgit’s recent performance is partly due to the anticipated Federal Reserve interest rate cuts, starting next month, which have eased pressure on the currency. On Monday, the ringgit strengthened to 4.3945 per dollar, its strongest level since April 2023, before easing slightly.
Efforts by Malaysian policymakers to encourage repatriation of overseas income and a recovery in global technology exports have helped stabilize the ringgit, which fell to a 26-year low in February. Analysts are hopeful that the currency’s undervaluation could be unwinding, with future external events and structural reforms potentially influencing its trajectory.
More Malaysian women in finance are pursuing entrepreneurship, strengthening SME growth, innovation, leadership diversity, and…
Partnership integrates Sandoz biosimilars into Alpro Pharmacy’s OncoHelp programme to support patients from government hospitals…
Dayang Enterprise's 1QFY26 net profit soared 140.8% year-on-year to RM22.2 million, driven by improved margins…
Telekom Malaysia's 1QFY26 net profit fell short of expectations, impacted by a 5G-related write-down and…
MM Computer Systems Bhd offers customized IT solutions and outsourcing services, serving diverse clients including…
Malaysian organizations are struggling with AI-driven cyber threats, fragmented systems and alert overload, accelerating demand…
This website uses cookies.
