The US Dollar to the Malaysian Ringgit Hits Over 4.42 for the First Time Since 1998

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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.

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Source: Bloomberg TV Malaysia

Comments

Fadzil Bastun

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.

Keigo Heng

Menteri cakap ini perkara baik okay la…. lolz

Chan Yim Mei

Our ringgit is like the duit pisang during the Japanese occupation….??

Arnold Peng Chuan Kong

There will says its global faults not only MY effected bah !! Am I smart like them ???

Karen Barnes

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.

Aasha Blickle Panicker

Thumbs up ….. Must thank the blind supporters

Kamaljit Singh

And our government will come up with some stupid remark in regards to this…… Lets see which minister says someting utterly ridiculous…..

Charlie Chew

On the way to olympikos…..greece!….

SaSa Meow

Bloody hell…. and nothing’s being done.

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