The ringgit is projected to remain steady in financial year 2023 (FY23) and could strengthen to RM4.15 against the greenback. theSun theSundaily Ringgit economy finance greenback
Malatysia’s economic expansion will have the biggest influence over how the country’s currency fares this year, says Tengku Zafrul. – Bernamapic: Malaysia’s ringgit is expected to hold steady throughout the year with the US Federal Reserve signalling a slowdown in interest rate increases, according to analysts.
“In other words, we should be bracing for interest rate hike stability by the Fed which is aiming or hoping for a soft landing,” he added. At 6pm on Jan 20, the ringgit was higher at 4.2830/4.2875 against the US dollar from the previous day’s close of 4.3050/4.3100. “The ringgit is expected to float around RM4.40 in Q1’23 before moving to 4.25 and 4.15 levels in Q2 and Q3 and to end the year at RM4.05,“ he told a press conference during Maybank IB’s 2023 market outlook.
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