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Malaysia's finance ministry said it expects the ringgit to appreciate in 2024 and ruled out a currency peg or monetary policy changes to support it. The ringgit has fallen about 3.7% so far this year.
The ministry attributed the weakness mainly to US dollar strength and economic uncertainty in China.
The government's rejection of a peg or rate action means the currency is likely to be driven by external factors, so import costs will continue to track the dollar and China's economy.
straitstimes.comFeb 29, 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.
