Ringgit gains against most major, Asean currencies despite weaker US dollar
KUALA LUMPUR, Sept 14 — The ringgit appreciated against most major and Asean currencies at Monday’s close, a...
On September 14, the Malaysian ringgit gained against most major and Asean currencies, despite weakening against the US dollar. This price shift occurred as markets awaited the Federal Open Market Committee (FOMC) and Bank of Japan (BOJ) meetings and anticipated rising Brent crude prices, according to Dr Mohd Afzanizam Abdul Rashid, chief economist of Bank Muamalat Malaysia Bhd.
Brent crude prices are currently around US$107 (RM435) per barrel, contributing to inflationary pressures and strengthening the ringgit in the near term, he told Bernama. The ringgit closed stronger against the euro, Japanese yen, and British pound compared to last Friday, and also increased against its Asean counterparts, such as the Singapore dollar, Thai baht, Indonesian rupiah, and Philippine peso.
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- Ringgit ends lower against US dollar, higher against major peers freemalaysiatoday.com
- Ringgit ends higher against most major, Asean currencies nst.com.my
