Malaysian Ringgit MYR

 

Detailed information and fundamental factors

Central Bank: Central Bank of Malaysia

Interest Rate: 3.25%

Public Debt to GDP Ratio, 2013: 54.6%

Trade Balance, 2013: $37.8 bln.

Inflation, 2013: 2.2%

Sovereign Credit Ratings:

Fitch
A
Negative
Moody's
A3
Stable
S&P
A
Stable

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 Central Bank Keeps Rates on Hold, Ringgit Drops

The Malaysian ringgit fell today, heading to the biggest weekly drop since August, after the nation’s central bank refrained from changing its monetary policy and kept the benchmark Overnight Policy Rate unchanged.

Malaysian Ringgit Retains Losses After ECB Surprise

Most risky currencies fell yesterday after the surprise interest rate cut from the European Central Bank, and the Malaysian ringgit was among them. Today, the Forex market is still shaken, meaning that the yesterday’s trends remain in place.

Ringgit Retreats vs. Dollar, Retains Optimistic Prospects

The Malaysian ringgit retreated a bit against the US dollar today after the initial rally, but analysts still have a positive outlook for the currency due to Malaysia’s accelerating economic growth and expectations of an interest rate hike.

Market Sentiment Doesn’t Favor Risk, Ringgit Suffers

The Malaysian ringgit fell today as risk aversion eroded the appeal of higher-yielding currencies associated with risk. The market sentiment was hurt by prospects of early monetary tightening from the Federal Reserve.

Malaysian Ringgit Suffers from Geopolitical Risks

The Malaysian ringgit dropped today, leading other Asian currencies in decline, as geopolitical tensions made Forex market traders reluctant to buy riskier assets of emerging markets.

Ringgit Struggles Even After Central Bank Raises OPR

The Malaysian ringgit climbed against the euro today after the central bank lifted its benchmark Overnight Policy Rate for the first time in more than three years, signaling about optimistic outlook for the nation’s economy. The currency struggles to maintain the rally and remained below the opening level against the US dollar.

Malaysian Ringgit Profits from Signs of Growth in USA & China

The Malaysian ringgit rallied together with other Asian currencies today as signs of economic growth in the United States and China, two biggest world economies, increased risk appetite among Forex market participants.

Conflict in Iraq Results in Risk Aversion, Ringgit Falls

The Malaysian ringgit dropped today, reaching the lowest level in a week, as the escalating conflict in Iraq resulted in the risk aversion sentiment on the Forex market and made investors less willing to buy riskier assets of emerging markets.

Ringgit Drops on Fed Stimulus Reduction Bets

The Malaysian ringgit fell today on concerns that probable stimulus reduction by the US Federal Reserve will spur investors to pull their money from emerging markets.

Malaysian Ringgit Rallies Ahead of ECB Decision

The Malaysian ringgit advanced today, snapping its three-day decline, as Forex market participants expect that the European Central Bank will cut its interest rates at today’s meeting, and this may increase capital inflows into emerging markets.

Archives

SUBSCRIBE

Follow Top Forex News on Twitter T