Loading...

Home pages - full list (A-Z)

Malaysian Ringgit news and forecasts

#Forecasts #MYR
Email share     Facebook     LinkedIn    Twitter
  Malaysian Ringgit forecast

MYR in the markets

The period between April and November 2018 was a tough one for the ringgit, as it lost value against the dollar on a near-weekly basis. Fortunately, losses in that period only amounted to 8 percent and only took the currency to a 1-year low of RM4.2 — it could have been much worse.

Since then, the ringgit has turned a corner; in late February it was trading at RM4.06, near 6-month highs.

MYR/USD – 6 month chart

MYR Forecasts

Among factors contributing to the ringgit’s weakness over the past year has been political uncertainty relating to Malaysia’s ruling Pakatan Harapan coalition, late-2018’s crash in oil prices, global trade tensions and higher US interest rates. There are positive factors though.

“With good GDP data and strong economic fundamentals coupled with positive external factors, I believe the ringgit can go higher to RM4.02 [per USD],” a dealer said in February.

The team at TradingEconomics.com believes the ringgit weakens to RM4.14 by year-end.

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

 

MYR/USD – Historical Rates

PeriodMYR/USDDate
1 Day0.239518 May 2019
1 Week0.240512 May 2019
1 Month0.242019 Apr 2019
6 Months0.238620 Nov 2018
1 Year0.251819 May 2018
5 Years0.310820 May 2014
10 Years0.283421 May 2009

 

Related Articles

SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection

What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.

Last update: 18 Apr, 2019

Petro-Currencies Struggle Amid Oil Market Plunge

Undoubtedly, the speed at which the oil market has reversed has shocked foreign exchange traders as much as it has those in the commodities space. Currencies from economies that depend on oil exports can only do so much amid what is now an energy market rout. With Tuesday bringing a twelfth consecutive day of losses for oil, the Canadian dollar, Norwegian krone, Malaysian ringgit and Mexican peso all fell to multi-month lows.

Last update: 8 Dec, 2018

US Dollar on the March; Markets Yet to Price in Full Extent of Fed Hikes, Says SEB

The US dollar made inroads against most of the world’s currencies on Thursday as trade fears forced investors into safer assets.

Last update: 2 Aug, 2018

Ruble and Rand Best Performers During Busy Week for Emerging Market FX

It was a busy week for financial markets; one in which central banks disappointed, entire countries were in crisis, new leaders were elected, commodities thrived and Trump reimposed sanctions on Iran. With that said, emerging market currencies were erratic last week, and generally lost value, none more so than the Argentine peso which fell on […]

Last update: 2 Jun, 2018

 

Posted to: Forecasts

 
   

Get a Better FX Deal when you Send and Spend Abroad.

 

Do NOT follow this link or you will be banned from the site!