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Columns Breaking through the 4.50 barrier, the Ringgit became the best emerging currency of the week.
$USD/MYR (USDMYR.FX)$
The rising trend of the ringgit is unstoppable, with another surge of over 1.7% today, breaking through the 4.50 level. The entire week saw a rise of 3.6%!
As of 5 p.m., the exchange rate of the ringgit was 4.4908 to the US dollar, with a daily increase of 1.72%. This is another important level that the ringgit has surpassed within 3 days after breaking through the 4.60 level on Wednesday, July 31.
Looking at the entire week, the exchange rate of the ringgit has increased by 3.59%, making it the best-performing emerging market currency this week.
The outlook for Malaysia's economic growth is optimistic, coupled with continuous inflow of foreign funds, which has led to a 10-day continuous increase in the ringgit, the longest streak in 14 years.
According to Bloomberg, after three years of decline, the performance of the ringgit this year has been better than other Asian currencies, especially after the government introduced policies to promote foreign investment and reduced subsidies to narrow the budget deficit.
With the support of these policies, the Malaysian stock market has regained the interest of global funds. These funds have bought $0.112 billion (approximately 0.508 billion ringgit) of Malaysian stocks so far this year.
At the same time, Malaysia's economic recovery is also accelerating. The improvement in export conditions has provided support for economic growth. In addition, the statistics bureau's earlier forecast for the second quarter's economic growth rate reached 5.8%, exceeding market expectations.
According to the report by Bernama, Second Finance Minister Datuk Seri Amir Hanza believes that the forecast of Malaysia's economic growth of 4% to 5% this year can be achieved, and it may even reach a higher level. The trend of the ringgit will also enter a...
The rising trend of the ringgit is unstoppable, with another surge of over 1.7% today, breaking through the 4.50 level. The entire week saw a rise of 3.6%!
As of 5 p.m., the exchange rate of the ringgit was 4.4908 to the US dollar, with a daily increase of 1.72%. This is another important level that the ringgit has surpassed within 3 days after breaking through the 4.60 level on Wednesday, July 31.
Looking at the entire week, the exchange rate of the ringgit has increased by 3.59%, making it the best-performing emerging market currency this week.
The outlook for Malaysia's economic growth is optimistic, coupled with continuous inflow of foreign funds, which has led to a 10-day continuous increase in the ringgit, the longest streak in 14 years.
According to Bloomberg, after three years of decline, the performance of the ringgit this year has been better than other Asian currencies, especially after the government introduced policies to promote foreign investment and reduced subsidies to narrow the budget deficit.
With the support of these policies, the Malaysian stock market has regained the interest of global funds. These funds have bought $0.112 billion (approximately 0.508 billion ringgit) of Malaysian stocks so far this year.
At the same time, Malaysia's economic recovery is also accelerating. The improvement in export conditions has provided support for economic growth. In addition, the statistics bureau's earlier forecast for the second quarter's economic growth rate reached 5.8%, exceeding market expectations.
According to the report by Bernama, Second Finance Minister Datuk Seri Amir Hanza believes that the forecast of Malaysia's economic growth of 4% to 5% this year can be achieved, and it may even reach a higher level. The trend of the ringgit will also enter a...
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$SNS (0259.MY)$
$CABNET (0191.MY)$
$OMESTI (9008.MY)$
$JCY (5161.MY)$
$KTI (0308.MY)$
$ATAIMS (8176.MY)$
$ZANTAT (0301.MY)$
$MCLEAN (0167.MY)$
Hold![]()
last time SNS, CABNET 100% I also hold no possible now I can't wait another bullish ![]()
$CABNET (0191.MY)$
$OMESTI (9008.MY)$
$JCY (5161.MY)$
$KTI (0308.MY)$
$ATAIMS (8176.MY)$
$ZANTAT (0301.MY)$
$MCLEAN (0167.MY)$
Hold
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