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Malaysian Ringgit MYR

 

Detailed information and fundamental factors

Central Bank: Central Bank of Malaysia

Public Debt to GDP Ratio, 2016: 55.1%

Trade Balance, 2016: $27.8 bln.

Inflation, 2016: 2%

Sovereign Credit Ratings:

Fitch
A-
Stable
Moody's
A3
Stable
S&P
A
Stable

Supporting Factors

High-yielding interest rates

weak

Fast-growing strong economy

The Malaysian ringgit is the currency of Malaysia. It was previously called “Malaysian dollar” and was introduced in 1967. The currency was pegged to the US dollar, but Malaysia ended the dollar-peg after China had made the same move.



Malaysian Ringgit News Archive

Malaysian Ringgit Gains Following Oil Production Cuts Extension

The Malaysian ringgit logged gains today following the announcement of an oil production cuts extension from the members of the Organization of Petroleum Exporting Countries and some non-OPEC producers, including Russia.

Ringgit Falls vs. Dollar Despite Favorable Market Sentiment

The Malaysian ringgit fell against the US dollar together with most other Asian currencies (with the exception of the Taiwan dollar) even though the market sentiment was favorable to riskier assets.

Malaysian Policy Makers Fail to Prevent Ringgit Sell-Off

The Malaysian ringgit slipped against the US dollar today as efforts of Malaysian policy makers to limit currency speculation failed to prevent a downfall of the ringgit.

Ringgit Higher After Malaysian Central Bank Decreases SRR

The Malaysian ringgit gained against the US dollar today after the nation’s central bank kept interest rates steady and decreased its reserve requirements ratio.

Malaysian Ringgit Suffers from Risk-Negative Sentiment on FX Market

The Malaysian ringgit fell against the US dollar today as concerns about the slowing global growth drove Forex market participants away from risk-geared currencies.

Malaysian Ringgit Leads Drop of Asian Currencies

There have been plenty of reasons for the riskier Asian currencies to drop including concerns about the eurozone and Greece in particular, the rally of the US dollar and the decline of Asian bonds. The Malaysian ringgit has led the drop.

Malaysian Ringgit Dragged Down by Oil Prices & Strong Dollar

The Malaysian ringgit dropped against the US dollar today as a drop of crude oil prices should reduce trading revenue of Malaysia — a net oil exporter. Additionally, the greenback was strong on its own right.

Malaysian Ringgit Gains After Excessive Losses

The Malaysian ringgit gained today, demonstrating the biggest gain in a week, following its previous losses. The most likely reason for the rally is that the market considered the previous decline excessive.

Malaysian Ringgit Suffers from Lower Oil Prices

The Malaysian ringgit dropped for the third straight session today on concerns that the drop of oil prices will hurt the trade balance of the oil-exporting country.

Malaysian Ringgit Drops as US Jobs Growth Fuels Rate Hike Speculations

The Malaysian ringgit fell today, touching the lowest level since September 2009 against the US dollar, as the huge increase of US employment fueled speculations that the Federal Reserve will increase interest rates in the near future.

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