KUALA LUMPUR: The ringgit was one of the best-performing currencies globally in the third quarter of this year (Q3’24), strengthening 14.4% against th...
The ringgit’s performance in the third quarter was primarily driven by the US Federal Reserves rate cut and greater clarity on the trajectory for further reductions, the FMC says. – Bernama filepicThe ringgit was one of the best-performing currencies globally in the third quarter of this year , strengthening 14.4% against the US dollar and 11.4 % on a year-to-date basis, said Bank Negara Malaysia’s Financial Markets Committee .
“They have contributed to ample domestic foreign exchange market liquidity, which recorded an average daily volume of US$17.6 billion,” it said. “Significant foreign portfolio inflows were observed in Q3’24 amidst the strong KLCI performance and normalising Malaysian Government Securities-US Treasury spread,” it said.
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