The MYR to INR exchange rate shows a bullish bias, reflecting recent positive sentiments around the Malaysian Ringgit.
Key drivers include the interest rate differential, where expected U.S. rate cuts could support the MYR's strength against the INR. Additionally, strong economic fundamentals in Malaysia, like robust GDP growth and fiscal reforms, provide a solid backdrop for MYR appreciation. The INR, facing pressure, is forecasted to weaken due to a potential depreciation trend toward 90 per USD, affecting its value against the MYR.
Near-term, the MYR to INR is expected to trade within a stable range, benefiting from its recent highs. The current level of 22.21 is about 3.3% higher than the 3-month average, maintaining an overall stable range over the past months. Possible changes include an upside risk from stronger-than-expected global economic recovery and a downside risk if oil prices remain volatile, influencing the MYR negatively as they recently hit seven-day lows.