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.
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%
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
May 26, 2017 at 10:19 Malaysian Ringgit
Ringgit Falls vs. Dollar Despite Favorable Market Sentiment
February 13, 2017 at 8:35 Malaysian Ringgit
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
November 28, 2016 at 11:36 Malaysian Ringgit
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
January 21, 2016 at 10:58 Malaysian Ringgit
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
September 2, 2015 at 10:30 Malaysian Ringgit
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
June 5, 2015 at 21:38 Malaysian Ringgit
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
January 2, 2015 at 14:43 Malaysian Ringgit
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
December 26, 2014 at 10:51 Malaysian Ringgit
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
December 23, 2014 at 10:50 Malaysian Ringgit
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
December 8, 2014 at 16:01 Malaysian Ringgit
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.