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Economy Minister Rafizi Ramli said the ringgit's slide since February, from about 4.20 to about 4.60 per dollar, comes from US crises including Silicon Valley Bank's collapse and the debt ceiling impasse. He said the government cannot control these external factors.
The ringgit opened weaker on May 31.
The minister's comments confirm that the ringgit weakness is externally driven and unlikely to be reversed by domestic policy. This keeps import costs elevated for Malaysian buyers.
thevibes.comMay 31, 2023Not 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.
