Ringgit Expected to Hit 4.20-4.40 Against US Dollar by Year-End

The ringgit is expected to hit 4.20-4.40 against the US dollar by year-end in view of the United States (US) Federal Reserve’s (Fed) likely interest rate cut decision in anticipation of an economic recession in the US this year, said Capital Dynamics Asset Management Sdn Bhd managing director Tan Teng Boo.

He said the interest rate decision would have a positive impact on the ringgit and other currencies, such as the Thai baht and the Indonesian rupiah, as well as on currencies of the developed countries, namely the Japanese yen."The recent (world currencies depreciation) was not just felt by the ringgit, but other currencies as well, including the Japanese yen which plunged by 50 per cent -- a currency that was supposed to be the strongest currency once upon a time,” he said. Tan was speaking at a media briefing on the stock market titled"Is Investing in Malaysia Still Attractive Now?” here, toda

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank Negara Malaysia Governor: Ringgit does not reflect positive prospects of Malaysian economyBank Negara Malaysia Governor, Datuk Abdul Rasheed Ghaffour, stated that the current level of the ringgit does not accurately represent the positive outlook of the Malaysian economy. He attributed the recent performance of the ringgit to external factors such as changing US interest rate expectations, geopolitical concerns, and uncertainty surrounding China's economic prospects. Abdul Rasheed emphasized that growth in 2024 will be driven by improved external demand and strong domestic spending.
Source: theSundaily - 🏆 25. / 51 Read more »