Ringgit seen strengthening further to 3.43-3.45 against Singapore dollar by year-end
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The ringgit is projected to stabilize further by year-end, ranging between 3.43 to 3.45 against the Singapore dollar. Factors boosting demand for the ringgit include foreign direct investments flowing into Malaysia, particularly the Johor-Singapore Special Economic Zone (JS-SEZ). The Malaysian ringgit peaked at RM3.5682 versus the Singapore dollar on Feb 20, 2024, and currently fluctuates around RM3.4868, reflecting a 2.3% gain. The economist also highlighted the synergistic efforts between the government, government-linked companies, and government-linked investment companies in fostering an environment conducive to greater conversion of foreign currencies into the Malaysian ringgit. However, the sustainability of the ringgit's surge might depend on external factors, particularly decisions by the US Federal Reserve regarding interest rates.

#Ringgit #SingaporeDollar #ForeignDirectInvestments #JohorsingaporeSpecialEconomicZone #MalaysianEconomy #UsFederalReserve #InterestRates

https://theedgemalaysia.com/node/714966