In December 2024, the US dollar strengthened significantly, with the DXY index rising 2.6% due to adjusted expectations of slower Fed rate cuts. The ringgit weakened 0.6% against the USD, reaching RM4.472, its lowest since November 2023. However, the Trade-Weighted Ringgit Index (TWRI) improved, reflecting ringgit strength against trading partner currencies. Analysts forecast a gradual ringgit appreciation, averaging RM4.23 in 2025, influenced by US monetary policy moveme
Ringgit to appreciate further into 2025
“We continue to foresee that the Malaysian ringgit will continue its strengthening trend against the USD, however at the slower pace on the back of the movement in the US monetary policy. We think that the ringgit will appreciate to average RM4.23 in 2025.
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