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Malaysian Ringgit Head to Best Week Since 1998

September 20, 2013 at 13:05 by Vladimir Vyun

A fan of Malaysian currency notesThe Malaysian ringgit fell today, but still headed to the best weekly rally since 1998 as absence of quantitative easing tampering from the Federal Reserve spurred riskier currencies of emerging markets.

The Fed’s decision led to the huge rally of higher-yielding currencies and they were able to keep the most of its gains even though some of them (including the ringgit) retreated a little. The ringgit has rallied 4 percent this week and other Asian currencies also gained. Domestic fundamentals are not particularly favorable to the Malaysian currency, but for now it pays more attention to overseas news.

USD/MYR rose from 3.1473 to 3.1658 as of 13:02 GMT today.

If you have any questions, comments, or opinions regarding the Malaysian Ringgit, feel free to post them using the commentary form below.

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