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Malaysian Ringgit MYR forecasts for 2020

#Forecasts #MYR

Forecasts for the Malaysian ringgit change all the time, affected by news events such as the Coronavirus and relative sentiment towards the Malaysian economy. This continually updated article reviews MYR bank forecasts and popular cross-rate trends.

The ringgit is expected to weaken further in the coming months on the back of lower economic growth. Export-dependent Malaysia is expected to struggle amid tighter trade conditions brought on by the recent escalation in US-China trade tensions. Morgan Stanley said in May that USD/MYR would rise to or above RM4.22 before the end of September.

MYR in the markets

The Malaysian ringgit is up around 2.5% against the US dollar for 2020 (in August) and is gaining favour from bank commentators such as HSBC due to the attraction of the carry trade - the ability to earn higher interest when holding MYR versus other major currencies.


 

MYREUR Trend & Alerts

MYREUR at 0.2035 is near its 90-DAY average, range 0.1991-0.2066.
🔔 MYREUR is at 30-DAY LOWS.
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Alert:30-DAY LOWS |
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What is a good MYR exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

For example, the following table looks at the change in the MYR to USD exchange rate to the present day for periods going back upto 10 years:

 
MYR/USD ratePeriod
13 Oct 2020 : 0.24141 Week
20 Sep 2020 : 0.243030 Days
22 Jul 2020 : 0.235190 Days
21 Oct 2019 : 0.23911 Year
22 Oct 2015 : 0.23435 Years
23 Oct 2010 : 0.321110 Years

MYR/USD 10 year historic rates

You can also read our full Foreign Exchange Guide to Malaysia.

 
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.