As the dollar rises, the ringgit falls to a lowest record among this two-year.
The US dollar is rising, the ringgit falls to a lowest rate among this two-year!
According to Bank Negara data as of 9 a.m. on April 25, RM4.335 was equal to one US dollar, falling from RM4.325 the previous week and the lowest level since June 2020. A currency exchange company in Kuala Lumpur likewise introduced an RM4.31 to US$1 exchange rate.
In terms of SGD, according to Bank Negara data, 1 SGD is about RM3.1577, whereas a money changer in Kuala Lumpur provides 1 SGD for RM3.13.
At the Federal Open Market Committee meeting on May 3 and 4, the Fed is widely expected to announce two rate rises, totaling 0.50 percent. The dollar began to rise as the dollar accelerated its withdrawal from emerging economies and returned to the United States.
According to our country’s 2.20 percent inflation rate in March, the National Bank is not in a hurry to raise interest rates, so the existing policy rate of 1.75 percent may be maintained in May. In the second part of the year, Bank Negara may only hike interest rates by one yard, or 0.25 percent.
In fact, not only is the ringgit falling in value, but the yen is also falling, marking a 20-year lowest rate.
