Ringgit

2024 - 8 - 5

The Ringgit Rises: Is Our Currency the New Online Influencer?

ringgit malaysia Banking and finance - Currency exchange - Economic growth - Foreign investment - Malaysian Ringgit - US dollar - ringgit malaysia

Get ready to meet the ringgit, Malaysia's hottest currency performer that's making waves like a viral TikTok star!

The Malaysian ringgit is currently basking in the spotlight after it touched 4.4000/4150 against the US dollar, marking a significant moment for our local currency. This surge, the most substantial since 2015, has left economists and investors buzzing with excitement about the optimistic prospects of Malaysia’s economy. As foreign capital is expected to flood in, the ringgit showcases its strength, proving itself akin to that new dance trend everyone can’t stop talking about!

Not only has the ringgit climbed due to foreign investment optimism, it also found itself participating in the global currency dance-off, driven by a gradual weakening of the US dollar. The buzz around the Federal Reserve's potential rate cuts has added further fuel to the ringgit's hot streak, enhancing its appeal against the backdrop of weak US job data. Mohd Sedek Jantan, head of investment research at UOB Kay Hian Wealth Advisors, points out that we’ve witnessed a remarkable rally, with the ringgit benefiting from this changing global sentiment, much like a trending meme that captures the attention of the masses.

Interestingly, Prime Minister Datuk Seri Anwar Ibrahim recently took to the stage to attribute the ringgit's outstanding performance not merely to his leadership but to the values recommended under the Madani framework. This comes amidst an atmosphere of market chaos that ironically managed to bring some winners into the light, and Malaysia’s currency is certainly one of them! With the ringgit continuing to rise for an impressive 11 days straight, investors seem to be moving their focus to the Asia-Pacific region, ready to leverage the growing momentum.

To spice things up further, did you know that the last time the ringgit experienced such a phenomenal rise, it was 2015? That’s almost a lifetime in currency years! Also, in a parallel universe, if the ringgit were an influencer, it would surely be sponsored by “financial optimism” with the way it’s stealing the show right now. Let's keep our fingers crossed that this positivity stays as trendy as the latest online sensation!

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Image courtesy of "The Star Online"

Ringgit touches 4.40 vs US$ (The Star Online)

KUALA LUMPUR.: The Malaysian ringgit touched 4.4000/4150 against the US dollar at 11.32 am.

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Image courtesy of "The Straits Times"

Ringgit surges most since 2015 on inflows, optimism (The Straits Times)

HONG KONG - The ringgit jumped the most in nine years on bets foreign capital will flood in amid optimism surrounding Malaysia's economy.

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Image courtesy of "The Malaysian Reserve"

Ringgit poised for strong finish in... (The Malaysian Reserve)

Its broad strengthening aligns with the gradual weakening of the US dollar, driven by heightened expectations for Fed rate cuts.

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Image courtesy of "New Straits Times Online"

Ringgit on non-stop rally for 11 straight days vs US dollar (New Straits Times Online)

UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said that in the wake of the weak US jobs data, US bond yields dropped significantly ...

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Image courtesy of "The Star Online"

Ringgit's rebound makes sense (The Star Online)

What prompted the rise of the ringgit against the US dollar and consequently other currencies? There are many reasons. A currency is often tied to sentiment, ...

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Image courtesy of "Yahoo Finance"

Ringgit Rises Most Since 2015 as Market Chaos Spurs Some Winners (Yahoo Finance)

(Bloomberg) -- The ringgit jumped the most in nine years on bets foreign capital will flood in amid optimism surrounding Malaysia's economy.

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Image courtesy of "Free Malaysia Today"

Ringgit on track to RM4.40 amid increased demand (Free Malaysia Today)

The local note climbs to 4.4930/4.5010 as investors shift to the Asia-Pacific on weak US jobs data.

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Image courtesy of "Malay Mail"

PM says ringgit rising 'not because of Anwar' but Madani principles ... (Malay Mail)

KOTA KINABALU, Aug 4 — Prime Minister Datuk Seri Anwar Ibrahim today attributed the ringgit's best performance in 14 years to the collective effort of his ...

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Image courtesy of "www.bloomberg.com"

Ringgit Rises Most Since 2015 as Market Chaos Spurs Some Winners (www.bloomberg.com)

The ringgit jumped the most in nine years on bets foreign capital will flood in amid optimism surrounding Malaysia's economy.

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Image courtesy of "BusinessToday"

Ringgit Strengthens For 11th Consecutive Day Amid Shifting ... (BusinessToday)

The ringgit continued to show strong support and maintained its upward momentum for 11 consecutive days against the US dollar, as investors redirected their ...

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Image courtesy of "Free Malaysia Today"

CIMB Investment expects ringgit to appreciate below RM4.30 (Free Malaysia Today)

The investment bank says this will be supported by Malaysia's export and foreign direct investment recovery.

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Image courtesy of "New Straits Times Online"

Ringgit rally continues, rises to 4.42 against US dollar at close (New Straits Times Online)

KUALA LUMPUR: The ringgit extended its bullish momentum from last week to close higher against the US dollar today amid a weakened US Dollar Index (DXY), ...

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Image courtesy of "The Edge Markets MY"

Ringgit strengthens further outperforming Asian peers, CIMB sees ... (The Edge Markets MY)

The Malaysian ringgit continued to appreciate against the US dollar on Monday, making it one of the best performing Asian currencies year to date.

Ringgit rallies, erasing year's losses against SGD and USD (The Business Times)

THE ringgit – currently charting its longest-winning streak against the greenback in 14 years – has erased all its losses for the year to gain 3.7 per cent ...

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Image courtesy of "Nikkei Asia"

Malaysian ringgit hits 16-month high against dollar (Nikkei Asia)

TOKYO -- The Malaysian ringgit climbed to its strongest against the dollar since April 2023 in Tokyo trading on Monday, supported by a solid economy,

Ringgit rallies, erasing year's losses against SGD (The Business Times)

THE ringgit – named the worst-performing currency in emerging Asia last year – has erased all its losses for the year to gain 3.7 per cent against the ...

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Image courtesy of "New Straits Times Online"

Ringgit climbs as US rate cuts loom, up 4.1pct this year (New Straits Times Online)

So far this year, the ringgit has made impressive gains, appreciating 4.1 per cent against the US dollar, Bank Muamalat Malaysia Bhd chief economist Dr Mohd ...

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Image courtesy of "Malay Mail"

PM Anwar: Ringgit at its best in 14 years, with fastest recovery rate in ... (Malay Mail)

KUALA LUMPUR, Aug 6 — Prime Minister Datuk Seri Anwar Ibrahim has lauded ringgit's notable recovery today, saying it has reached its highest value in 14 ...

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Image courtesy of "The Malaysian Reserve"

Ringgit climbs as US rate cuts loom, up 4.1 pct this... (The Malaysian Reserve)

So far this year, the ringgit has made impressive gains, appreciating 4.1 per cent against the US dollar, Bank Muamalat Malaysia Bhd chief economist Dr Mohd ...

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Image courtesy of "New Straits Times Online"

Ringgit climbs as US rate cuts loom (New Straits Times Online)

So far this year, the ringgit has made impressive gains, appreciating 4.1 per cent against the US dollar, Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd ...

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Image courtesy of "The Star Online"

Ringgit strength bolstered by domestic measures, says Anwar (The Star Online)

PUTRAJAYA: The strength of the domestic economy and the measures taken by the Finance Ministry and its associated departments and agencies play a crucial ...

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Image courtesy of "New Straits Times Online"

PM: Strengthening of ringgit due to strength of domestic economy ... (New Straits Times Online)

PUTRAJAYA: The strength of the domestic economy and measures taken by the Finance Ministry have played a crucial role in the strengthening of the ringgit, ...

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Image courtesy of "The Star Online"

Ringgit climbs as US rate cuts loom, 4.1% this year (The Star Online)

At 8 am today, the ringgit traded slightly higher at 4.4200/4300 against the US dollar, compared to Monday's close of 4.4240/4305. So ...

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Image courtesy of "The Borneo Post"

Domestic economy and measures key to ringgit strength, says PM ... (The Borneo Post)

PUTRAJAYA (Aug 6): The strength of the domestic economy and the measures taken by the Ministry of Finance and its associated departments and agencies play a ...

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