The Malaysian ringgit fell today, followed by other Asian currencies, on concerns that rising energy prices may deter economic growth in the region and, as a result, decrease capital inflow from foreign investors.
China increased prices for gasoline and diesel, following the increase of fuel prices in other parts of the world. China is the biggest consumer of oil. Analysts say that Malaysian central bank may keep its interest rates unchanged to mitigate the negative impact of rising energy prices. The MSCI Asia-Pacific Excluding Japan Index of shares declined for a fourth session.
USD/MYR went up from 3.0573 to 3.0773 as of 12:50 GMT today.
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