Ringgit Under Pressure, Seen Trading Between RM4.03 and RM4.05
Translated from Malay and summarized by DistantNews. Read the original for the full story.
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- Malaysia’s ringgit is expected to trade between RM4.03 and RM4.05 against the US dollar in the near term.
- Economist Mohd Afzanizam Abdul Rashid said external factors, particularly changing expectations for US Federal Reserve rate increases, are influencing the currency.
The ringgit is expected to remain under pressure, with trading forecast between RM4.03 and RM4.05 against the US dollar in the near term.
The pressure follows a strengthening US currency, driven by expectations that the US Federal Reserve may raise interest rates.
Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd., said the ringgit’s movement is heavily influenced by external factors, especially shifts in expectations surrounding the Federal Reserve’s policy.
About this summary
Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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