Ringgit Poised for Continued Strength Amid Economic Gains
The Malaysian ringgit is expected to continue appreciating, potentially reaching the 4.250–4.200 level against the U.S. dollar.
Category: Currency
Ringgit on upward trend reaches 4.37 against the US dollar
The ringgit also declined against ASEAN currencies: weakening to 3.3466/3522 against the Singapore dollar from 3.3424/3461, to 7.74/7.75 against the Philippine peso from 7.73/7.74, to 283.5/284.2
Ringgit edged higher against US dollar
Meanwhile, the ringgit traded mostly lower against a basket of major currencies, falling against the Japanese yen it gained against the British pound to 5.6968/7056 from 5.7122/7199 at Wednesday’s close.
Bursa Malaysia Falls Amid Global Recession Fears; Ringgit Surges
At the close, the FBM KLCI fell 74.57 points or 4.62% to 1,536.48, down from Friday’s 1,611.05. The market experienced a severe downturn
The Malaysian currency reached 4.3945 per dollar today
The ringgit surged 2.3% on optimism over Malaysia’s economy and foreign capital inflows, marking its biggest gain since October 2015
Ringgit Outperformed Regional Currencies in 1HCY24
MIDF Trade-Weighted Ringgit Index (TWRI) rose by +0.2%mom to 86.25 in Jun-24 signalling ringgit’s outperformance against regional currencies
Ringgit Ends Higher Against US Dollar Amid Rising Inflation Expectations
The ringgit rose against the US dollar due to higher-than-expected May CPI, suggesting BNM may keep the OPR steady at 3.00%.
Ringgit opens steady vs US dollar
The ringgit versus the greenback is likely to remain in a narrow range as market participants await the FOMC outcome on 12 June, Bernama reported