# Maybank IB expects ringgit to rise to 4.60 versus USD by year-end | Scoop

> Maybank Investment Bank expects the ringgit to end 2024 at 4.60 per US dollar, citing expected Fed rate cuts totalling 75 basis points this year and Bank Negara Malaysia holding its overnight rate at 3%. The bank also cited positive real GDP growth and political stability as supports.

- Date: 2024-07-23 · published 2024-07-23T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/29554-maybank-ib-expects-ringgit-to-rise-to-4-60-versus-usd-by-year-end-scoop
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A forecast of ringgit appreciation reflects a weaker dollar outlook that can modestly support commodity prices priced in USD, though palm oil supply drivers remain dominant.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- scoop.my: https://www.scoop.my/news/218703/maybank-ib-expects-ringgit-to-rise-to-4-60-versus-usd-by-year-end/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.