Narrowing US-Malaysia rates gap to support ringgit: Bank Negara governor
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Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour stated that the ringgit is expected to remain resilient due to narrowing interest rate differentials between Malaysia and the US; the ringgit dropped to 4.487 against the US dollar; the ringgit rose 14.9% in Q3 2024 and 3.1% year-to-date as of November 13, 2024; the US Federal Reserve's cumulative 75-basis points rate cut in September and November contributed to the ringgit's performance; the Qualified Resident Investor (QRI) programme will be expanded to include corporates with RM500 million in foreign investments, with applications open until June 30, 2025.
#BankNegara #Ringgit #UsDollar #InterestRates #EconomicGrowth #Malaysia #AbdulRasheedGhaffour #QriProgramme #FinancialMarkets #UsFederalReserve
https://www.nst.com.my/business/economy/2024/11/1135146/narrowing-us-malaysia-rates-gap-support-ringgit-bank-negara
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