KUALA LUMPUR, June 14 — The ringgit extended its downtrend to open lower against the stronger US dollar today on cautious sentiment over a potential interest rate hike in the US, as well as Federal Reserve’s latest quarterly forecast, a dealer said.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index rose to 105.078 points, the highest since 2002. “The economic projection made during the Fed’s March meeting saw the Fed Fund Rate forecast for 2022 was revised from 0.9 per cent to 1.9 per cent. Mohd Afzanizam said in a way, the neutral rate — a rate that is neither contractionary nor expansionary — lies within 2.5 per cent to 3.0 per cent.
Tun Dr Mahathir should have 'pegged' the Ringgit to the S'pore $ back in the day.. M'sia is a 'price taker', not a 'price setter' in international trade. Depreciation of the Ringgit will increase cost of imports & cause domestic inflation to rise. tzafrul_aziz
alamak
4.50 sooooon by monkey Gomen.. WTF !🤬🤬🦁🦁🦁
It will come to a point when International Investors realized Malaysia isn’t worth investing in!
Wohooo!
Finance Minister and Bank Negara Governor must go
🤣🤣
5.00 soon.. to the moon
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