Ringgit may weaken against US dollar over one year
KUALA LUMPUR: The ringgit may trend lower to RM4.60 against the US dollar over the next 12 months, cautioned Rabobank head of financial markets research for Asia Pacific Michael Every.
He said that the local currency could depreciate further moving forward, mainly driven by the predicted weakening of yuan and possible external pressures caused by global economic uncertainties.
“Our ringgit-US dollar exchange rate estimate is predicated on yuan’s forecast. Thus, if the yuan does not weaken too much over the next one year, the ringgit will not depreciate to as low as RM4.60 per US dollar.
“However, if pressure on yuan increases and Malaysia’s economic fundamentals do not improve significantly to offset the external economic pressures, the ringgit could weaken going forward.
...
The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.
Comments