There have been plenty of reasons for the riskier Asian currencies to drop including concerns about the eurozone and Greece in particular, the rally of the US dollar and the decline of Asian bonds. The Malaysian ringgit has led the drop.
Malaysian Ringgit MYR
Central Bank: Central Bank of Malaysia
Interest Rate: 3.25%
Public Debt to GDP Ratio, 2014: 54.2%
Trade Balance, 2014: -$37.7 bln.
Inflation, 2014: 3.1%
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
June 05th, 2015 at 21:38
January 02nd, 2015 at 14:43
The Malaysian ringgit dropped against the US dollar today as a drop of crude oil prices should reduce trading revenue of Malaysia — a net oil exporter. Additionally, the greenback was strong on its own right.
December 26th, 2014 at 10:51
The Malaysian ringgit gained today, demonstrating the biggest gain in a week, following its previous losses. The most likely reason for the rally is that the market considered the previous decline excessive.
December 23rd, 2014 at 10:50
The Malaysian ringgit dropped for the third straight session today on concerns that the drop of oil prices will hurt the trade balance of the oil-exporting country.
December 08th, 2014 at 16:01
The Malaysian ringgit fell today, touching the lowest level since September 2009 against the US dollar, as the huge increase of US employment fueled speculations that the Federal Reserve will increase interest rates in the near future.
November 07th, 2014 at 9:48
The Malaysian ringgit dipped today as falling crude oil prices threatened the nation’s economy. Strength of the US dollar also had a negative impact on the currency’s performance. The ringgit headed to the biggest weekly decline since September 2013.
October 09th, 2014 at 11:23
The Malaysian ringgit, as well as most other currencies, continued to gain against the US dollar at today’s trading session after yesterday’s policy minutes from the Federal Reserve hurt the appeal of the greenback.
September 19th, 2014 at 12:25
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.
September 05th, 2014 at 11:36
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.
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.