KUALA LUMPUR: Maybank Research sees the ringgit ending this year firmer at RM4.60 versus the US dollar on the expectation of 50 basis points cuts in t...
Maybank says the pressure on the ringgit due to the interest rate differential factor that contributed to the US dollar strength since 2022 will ease. – Bernamapic
“The ringgit has stabilised against the US dollar after coming under pressure due to shifting expectations on the timing and quantum of US interest rate cuts. It traded within the RM4.68 to RM4.71 range versus US dollar from May 15 to May 31, 2024 after weakening to the low of RM4.80 twice this year on Feb 20 and April 16 ,” it said in a report called “Asean Frontiers: The New Trailblazers”.
On the OPR, the research firm said the “key domestic wildcard is inflation” following the introduction of the Account 3 by the Employees Provident Fund as consumer spending surge from Account 3 withdrawals.
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