Malaysian ringgit foreseen to average MYR 4.26 against USD this year

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Malaysian ringgit foreseen to average MYR 4.26 against USD this year

STORY: Malaysian ringgit foreseen to average MYR 4.26 against USD this year DATELINE: June 14, 2023 LENGTH: 00:02:09 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of Malaysia's national flag and Kuala Lumpur street views 2. various of bank notes counting 3. various of customers shopping at a supermarket 4. various of people shopping STORYLINE: The Malaysian Industrial Development Finance (MIDF) Research has revised its foreign exchange outlook for Malaysian ringgit (MYR) to average at MYR 4.26 against U.S. dollar this year, from a previous forecast of MYR 4.20. The research house said on Monday in a note that although this points to a slower appreciation than previously forecasted, it will still be stronger than an average MYR 4.40 recorded last year. Taking into account U.S. Federal Reserve (Fed) pausing rate hikes later this year and no rate cuts despite the United States experiencing below-trend growth, it foresees fund flows to return to emerging markets. Despite the robust

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