Asian Economic Growth Brings Malaysian Ringgit Higher
The Malaysian ringgit rose today as the economic growth in Asian region draws investors and causes the speculation that Asian nations will raise their interest rates to deal with the rapid growing inflation.
The Asia Dollar Index, tracking 10 Asian major currencies excluding the yen, rose 0.6 percent this week to 116.49 by 16:21 in Hong Kong. The index advanced after the Philippines and Taiwan reported faster than expected economic growth.
USD/MYR went down from 3.0460 to 3.0445 as of 9:32 GMT today.
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Earlier News About the Malaysian Ringgit:
- Malaysian Ringgit Decline with Asian Stocks (2011-01-28)
- Malaysian Ringgit Falls as Economic Growth Slows (2010-11-23)
- Malaysian Ringgit Rises Together with Other Asian Currencies (2010-09-08)
- Ringgit Goes Higher as Economy Grows & Control Relaxes (2010-08-19)
- Malaysian Ringgit Falls on Economic Concerns (2010-08-16)
