Exchange Rate in Malaysia

Malaysia Exchange Rate (aop) | Economic News & Forecasts

Malaysia - Exchange Rate (average of period)

Ringgit falls to lowest level in over a decade

On 11 November, the ringgit traded in offshore markets dropped to its lowest level in in over a decade, following Donald Trump’s victory in the U.S. presidential elections. According to Thomson Reuters data, the ringgit’s one-month non-deliverable forwards lost 3.7% from the previous close to 4.54 MYR per USD, which was the weakest since September 2004. The sudden plunge was triggered by a large sell-off of emerging market government debt, as investors expect higher interest rates and reduced imports from Asia under Trump’s presidency. While Malaysia’s economic fundamentals remain solid—GDP accelerated to 4.3% in Q3—Trump’s proposed protectionist policies would affect investor sentiment in Asia’s export-led economies. Meanwhile, on the same day, the ringgit’s spot price settled at 4.29 MYR per USD, which weakened to a level last seen at the beginning of this year.

With the ringgit weakening, Malaysia’s Central Bank quickly intervened in the onshore market, making sure that the spot rate vis-à-vis the U.S. dollar remains stable. The Central Bank acknowledged the intervention and stated, on 11 November, that it will ensure that the markets do not price the ringgit out of sync with the economy’s underlying fundamentals, while also providing the necessary liquidity in the forex market.

FocusEconomics Consensus Forecast panelists expect the ringgit to trade at 4.12 per USD at the end of this year. For 2017, the panel projects the ringgit to trade at 4.10 per USD.

Malaysia - Exchange Rate (aop) Data

2015   2016   2017   2018   2019  
Exchange Rate (vs USD, aop)3.91  4.14  4.30  4.04  4.14  

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Malaysia Exchange Rate (aop) Chart

Malaysia Exchange Rate
Note: Malaysian ringgit (MYR) per U.S. dollar.
Source: Thomson Reuters.

Malaysia Facts

Value Change Date
Bond Yield3.320.15 %Dec 31
Exchange Rate4.090.0 %Jan 01

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