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Malaysian Ringgit (MYR) forecasts for 2019

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Malaysian Ringgit forecast

MYR in the markets

Malaysia was added to a US watchlist of suspected currency manipulators in May. Though that means little right now in terms of economic implications, it added to negative sentiment, which then spurred a rise in USD/MYR to a 6-month high (MYR low) of RM4.2.

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.

MYR/USD – 6 month chart

MYR Forecasts

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.

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

 

MYR/USD – Historical Rates

PeriodMYR/USDDate
1 Day0.239916 Sep 2019
7 Day0.240010 Sep 2019
30 Day0.239418 Aug 2019
3 Month0.239619 Jun 2019
1 Year0.241617 Sep 2018
5 Year0.310118 Sep 2014
10 Year0.287419 Sep 2009

 

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