Ringgit Advances As Domestic Optimism Offsets Us Rate Concerns

KUALA LUMPUR: The ringgit extended its gains on Monday, buoyed by optimism over Malaysia’s domestic outlook, which offset concerns about the direction of US interest rates.
At 8.03am, the local currency rose to 4.4680/4.4780 against the US dollar, up from Friday’s close of 4.4715/4780.Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said Malaysia’s third-quarter economic data indicated the economy was on track for stronger growth this year.
He added that political stability and unwavering appetite for reforms bolstered the nation’s appeal as an investment destination.
“At the same time, traders and investors are wary about whether Trump will proceed with his significant tariff and tax cut agenda. Such policies appear inflationary, which could explain why the Fed chairman raised doubts last week about the monetary easing measures.
“As such, we foresee the dollar-ringgit trading in a narrow range as markets navigate the uncertainties until the US President-elect is inaugurated on Jan 20 next year,” he said.
Nevertheless, Afzanizam noted the ringgit could see a correction, given its oversold position.
On Friday, Bank Negara Malaysia governor Abdul Rasheed Ghaffour announced a 5.3% gross domestic product growth for the third quarter.
He also welcomed Malaysia’s removal from the US currency manipulation watch list, reaffirming the ringgit’s market-driven status.
The ringgit traded mostly higher against a basket of major currencies.
It strengthened against the British pound to 5.6368/5.6494 from 5.6573/5.6656 at Friday’s close and rose vis-a-vis the euro to 4.7066/4.7171 from 4.7224/4.7292.
However, it weakened against the Japanese yen to 2.8936/2.9003 from 2.8774/2.8818.
The local unit showed mixed performance against Asean currencies.
It strengthened against the Philippine peso to 7.60/7.63 from 7.61/7.63, rose against the Indonesian rupiah to 281.4/282.2 from 281.6/282.2, and gained vis-à-vis the Singapore dollar to 3.3284/3.3361 from 3.3330/3.3381.
Conversely, it slipped against the Thai baht to 12.8383/12.8789 from 12.8307/12.8541. - FMT

Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2024/11/ringgit-advances-as-domestic-optimism.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini

Ringgit Strengthens Amid Anticipation Of Us Fed Rate Cut

papar berkaitan - pada 6/11/2024 - jumlah : 207 hits
KUALA LUMPUR The ringgit continued to be on a stronger footing against the US dollar today after recent weakness as the markets anticipate a rate cut by the US Federal Reserve said an economist Bank Muamalat Malaysia Bhd chief economist Afz...

Ringgit Ends Stronger On Market Optimism

papar berkaitan - pada 9/11/2024 - jumlah : 239 hits
KUALA LUMPUR The ringgit closed stronger against the US dollar today driven by broad market optimism Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Federal Reserve s decision to cut the Fed Funds Rate by 25 basis po...

Govt Targets Domestic Ree Processing Within 3 Years

papar berkaitan - pada 18/11/2024 - jumlah : 143 hits
Economy minister Rafizi Ramli said if rare earth elements can be processed domestically it will make it easier for states to regulate and license the mining of REE PETALING JAYA The government expects rare earth elements to be processed in ...

Ringgit Opens Higher Amid Cautious Global Sentiments

papar berkaitan - pada 20/11/2024 - jumlah : 124 hits
KUALA LUMPUR The ringgit opened higher against the US dollar on Wednesday amid cautious sentiments due to the current global economic development said an analyst At 8am the local currency strengthened to 4 4675 4 4755 against the greenback ...

The Significance Of A 9 5 Interest Rate

papar berkaitan - pada 22/11/2024 - jumlah : 140 hits
The Significance of a 9 5 Interest Rate Interest rates play a crucial role in the financial landscape impacting everything from borrowing costs to investment returns A 9 5 interest rate whether applied to loans savings or investments carrie...

Landscape Of An 8 5 Interest Rate Borrowing Saving And Investing

papar berkaitan - pada 16/11/2024 - jumlah : 178 hits
8 5 Interest Rate Borrowing Saving and Investing nbsp Interest rates are a fundamental component of financial transactions affecting how we borrow save and invest money An interest rate of 8 5 holds implications for various financial activi...

Govt Mulls Committee To Address Unity Issues 3r Concerns Says Aaron

papar berkaitan - pada 15/11/2024 - jumlah : 220 hits
National unity minister Aaron Ago Dagang said several programmes to promote unity including World Interfaith Harmony Week will be observed annually from next February KUALA LUMPUR The national unity ministry plans to establish a unity issue...

Ringgit Ends Lower As Us Election Results Unfold

papar berkaitan - pada 7/11/2024 - jumlah : 143 hits
KUALA LUMPUR The ringgit closed lower against the US dollar today snapping two days of gains as the US presidential election results poured in said an economist Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said Donald T...