Photo credit: stardex / Foter / CC BY-NC-SA
The ringgit has declined for a fifth consecutive day to hit yet another 17-year low, and looks to be heading for its biggest quarterly loss since 1997. According to Bloomberg TV Malaysia’s report, the US dollar to the Malaysian ringgit has hit over 4.42 for the first time since 1998.
As of 10.01 am in KL, the currency was down 0.9% at 4.4650 a dollar, according to prices from local bank compiled by Bloomberg. Earlier, it dropped to 4.4690, which is the weakest level since January 1998, and has almost dropped 16% since 30 June.
According to UOB, there are several factors that could signal a rebound of USDMYR 4.2 for the Ringgit by the end of the year. These include stabilization of commodity prices, improved confidence on China, fed policy’s normalization and abating political risks in Malaysia.
Watch the short report below by Bloomberg TV Malaysia to learn more.
Read More:
- Six Key Factors Affecting Malaysia’s Economy
- Malaysian Ringgit and Other Emerging Currencies Vs the US Dollar
Source: Bloomberg TV Malaysia
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This will definitely and confirmed hikes in everything that we buy and I hope their supporters will also bear the brunt that we felt on top of the gst.
Menteri cakap ini perkara baik okay la…. lolz
Our ringgit is like the duit pisang during the Japanese occupation….??
Yesterday’s news
Usd 6 here we come
There will says its global faults not only MY effected bah !! Am I smart like them ???
Remember it will ’97. Somewhere around 7.4 to the pound (sterling). My parents thought everything in Malaysia was so reasonable back then. Lol.
Ah well…as they say what goes up must come down.
Coz by PM n DPM
Thumbs up ….. Must thank the blind supporters
Oh no!!! ??
When will it stop?
And our government will come up with some stupid remark in regards to this…… Lets see which minister says someting utterly ridiculous…..
Going for 4.80 to $1
On the way to olympikos…..greece!….
Bloody hell…. and nothing’s being done.
Oh boy 🙁
🙁
Not cool.
Cool