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Malaysia's Ministry of Finance said the ringgit's recent depreciation was mainly driven by a stronger US dollar and uncertainty over China's economic growth. It said the Fed's aggressive rate hikes widened the rate gap, which pushed investors to move capital out of Malaysia.
A persistently weak ringgit raises the ringgit cost of imported feed ingredients and adds to domestic inflation. The outlook depends on US rate expectations and China's recovery.
sinarharian.com.myWartawan Sinar HarianMar 18, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
