KUALA LUMPUR: The Malaysian ringgit’s performance will improve when uncertainties from global market developments subside, reflecting Malaysia’s sound economic fundamentals, Bank Negara Malaysia said.
the movements in the ringgit would continue to be market-determined and Bank Negara would continue to manage the risks. Its market operations will ensure sufficient liquidity and the orderly functioning of financial markets, it told Bernama.
This has led to an increase in demand for safe-haven assets such as the US dollar and outflows from most emerging market economies as investors seek to protect their investments. This has led to the US dollar strengthening against most currencies. Last year, the aggressive interest rate hike by the US Federal Reserve was the main factor in the weakening of the currency market, including the ringgit, as the US dollar is seen to be giving better returns from an interest rate differential point of view.
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