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Malaysian Ringgit MYR
Central Bank: Central Bank of Malaysia
Interest Rate: 1.75%
Public Debt to GDP Ratio, 2020: 67.6%
Trade Balance, 2019: $25.1 bln.
Inflation, 2019: 0.7%
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.
The Malaysian ringgit gained today after Malaysia’s economy surprised experts, growing more than expected despite negative fundamentals. Economists remained largely pessimistic, though, arguing that the economy will likely not be able to maintain the impressive performance.
The Malaysian ringgit gained on the US dollar today thanks to the upgraded outlook for the nation’s economic growth.
The Malaysian ringgit touched the lowest level in four months today but has managed to recover by now.
The Malaysian ringgit fell against the US dollar today after the surprise outcome of the country’s general election.
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.
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.
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.
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.
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.
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.
