KUALA LUMPUR, July 5 — The ringgit is expected to fare better in the fourth quarter (Q4) of the year due to improving growth in China as well as in anticipation of a pause in the...
KUALA LUMPUR, July 5 — The ringgit is expected to fare better in the fourth quarter of the year due to improving growth in China as well as in anticipation of a pause in the United States Federal Reserve’s rate hike and strong recovery of the Malaysian economy.
Despite its depreciation against the greenback, the ringgit performed better than other major currencies during the first five months of the year 2022. UOB Malaysia senior economist Julia Goh gave a weaker projection for the ringgit at RM4.46 to the dollar by end of the third quarter and RM4.48 by end of Q4 of this year amid the downside risks due to skepticism on China’s economic recovery coupled with a weakening yuan.
‘‘We expect the Fed to change course and commence quantitative easing next year as advanced economies can’t take the pressure of higher interest rates post-Covid-19 situation,’’ he told Bernama.
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