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2 clusters · 8 sources · 13 days · First seen · Last updated

Malaysian ringgit market volatility

Overview

The Malaysian ringgit has experienced fluctuations against the US dollar influenced by global economic indicators and geopolitical tensions.

Initially, the ringgit was projected to trade within a narrow range of RM4.06 to RM4.08. This cautious outlook was driven by investor anticipation of interest rate decisions from the US Federal Open Market Committee and the Bank of Japan, alongside monitoring of US economic projections. Rising crude oil prices, fueled by geopolitical tensions involving the US, Israel, and Iran, also impacted market sentiment.

By late September, the ringgit opened higher against the US dollar and other major currencies. While the US Dollar Index rose as markets anticipated tight monetary policy from the Federal Reserve, the ringgit strengthened against several ASEAN currencies. Analysts noted that rising US Treasury yields, reaching a two-decade high, suggested an increasing inflation risk premium linked to geopolitical risks in West Asia.

Entities

Bank Muamalat Malaysia Bhd · Dr Mohd Afzanizam Abdul Rashid · Ringgit · US Federal Reserve · Malaysian Ringgit

Timeline

  1. [BUSINESS] 3 sources
    Ringgit opens higher against US dollar and major currencies

    The Malaysian ringgit opened higher against the US dollar and major global currencies amid rising US Treasury yields and expectations of continued US Federal Reserve monetary tightening.

  2. [BUSINESS] 6 sources
    Malaysian ringgit projected to trade in narrow range against US dollar

    The Malaysian ringgit is expected to trade between RM4.06 and RM4.08 against the US dollar amid caution surrounding upcoming US Federal Reserve and Bank of Japan interest rate decisions.

Sources

berita.rtm.gov.my · cnbcindonesia.com · malay.news · medcom.id · rri.co.id · thesun.my · tvsarawak.my · viva.co.id