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.
Malaysian Ringgit MYR
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%
High-yielding interest rates
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
September 05th, 2014 at 11:36
August 28th, 2014 at 15:05
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.
August 25th, 2014 at 12:29
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.
July 18th, 2014 at 10:18
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.
July 10th, 2014 at 19:34
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.
July 04th, 2014 at 14:51
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.
June 25th, 2014 at 10:47
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.
June 18th, 2014 at 12:37
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.
June 05th, 2014 at 11:07
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.
March 21st, 2014 at 17:36
The Malaysian ringgit fell today along with other Asian currencies as concerns about probability of tighter monetary policy in the United States were bothering investors, making them reluctant to invest in riskier assets of emerging markets.