Malaysian Ringgit MYR

 

Detailed information and fundamental factors

Central Bank: Central Bank of Malaysia

Interest Rate: 3.00%

Public Debt to GDP Ratio, 2011: 53.2%

Trade Balance, 2011: $48.5 bln.

Inflation, 2011: 3.2%

Sovereign Credit Ratings:

Fitch
A
Stable
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

Ringgit Suffers from Anticipation of Fed’s QE End

The Malaysian ringgit fell today as speculations about an end to US Federal Reserve’s quantitative easing continued to eat away risk appetite, spooking investors from riskier currencies.

Slower Malaysia’s Growth Weakens Ringgit

The Malaysian ringgit weakened today, heading to a weekly decline that will end the eight-week streak of gains, as country’s economic growth slowed last quarter.

Ringgit Rallies Most Since 2010 After Elections

The Malaysian ringgit advanced today, posting the biggest gain since 2010, after the elections resulted in the government party securing a clear majority in the parliament. It should allow Prime Minister Najib Razak to continue with his reforms unhindered.

Malaysian Ringgit Rallies on Hopes Elections Will Stop Capital Outflows

The Malaysian ringgit gained today as Prime Minister Najib Razak dissolved the parliament and announced the national elections. Investors think that outflows from the country will reverse after the vote.

Ringgit Gains, Still Heads to Weekly Loss

The Malaysian ringgit rose somewhat today, but was still heading to weekly loss as the risk aversion sentiment on the market deterred Forex traders from buying risky currencies.

Ringgit Falls on Concern over Currency War

The Malaysian ringgit fell along with other Asian currencies today amid worries that the intervention of Japan to weaken the yen will intensify the ”currency war” as other nations may also attempt to push their currencies down.

Malaysian Ringgit Gets Boost from Global Growth

The Malaysian ringgit strengthened today as investors felt optimistic about the global economy amid signs that growth is picking up and the worse has already passed. Other Asian currency also gained.

Ringgit Lifted Along with Market Sentiment by Talks Among US Politicians

The Malaysian ringgit climbed today as negotiations continued in the United States about ways to avoid the fiscal cliff and that gives hopes for investors that a crisis can be avoided. Such hopes lifted the traders’ mood.

Ringgit Retreats as US Fiscal Cliff Spooks Investors

The Malaysian ringgit fell today as fears of the fiscal cliff in the United States and its impact on the US and global economies deterred investors from buying riskier assets.

Ringgit Drops on Fears of Recession

The Malaysian ringgit fell today, following other Asian currencies in losses, as fears of recession in the United States and the European Union deterred investors from buying riskier assets of emerging economies.

FxNet Forex Brokers - Up to 50% bonus on all deposits

Archives

SUBSCRIBE

Subscribe to Forex News by E-mail: