May 30, 2024

USD/MYR: S&P Predicts 9% Rebound in Malaysian Ringgit by End of 2024

S&P Global Ratings forecast a 9% rebound in the Malaysian ringgit by the end of the year, and said the weak currency doesn’t pose a risk to the sovereign rating.

“We do not see the depreciating ringgit as a risk to the sovereign rating,” said YeeFarn Phua, sovereign analyst at S&P in Singapore. “Malaysia’s external position remains strong, augmented by adequate foreign reserves and consistent current-account surpluses.”

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