{"id":60708,"date":"2024-01-10T15:50:58","date_gmt":"2024-01-10T07:50:58","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=60708"},"modified":"2024-01-10T15:50:58","modified_gmt":"2024-01-10T07:50:58","slug":"midf-ringgit-appreciate","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/midf-ringgit-appreciate","title":{"rendered":"MIDF Expects Ringgit To Appreciate This Year"},"content":{"rendered":"

MIDF Amanah Investment Bhd (MIDF Research), MIDF\u2019s research arm, is expecting the ringgit to perform better this year, thanks to the reversal of fund flows.<\/span><\/p>\n

According to a research note<\/a> from MIDF Reaserch, <\/span>\u00a0the US Federal Reserve is expected to start cutting interest rates, which will narrow the interest rate differentials, which in turn will drive the reversal of fund flows.<\/span><\/p>\n

This move will be beneficial to the ringgit in 2024.<\/p>\n

<\/span>Ringgit to appreciate to RM4.20<\/span><\/h2>\n

\u201cWe foresee the ringgit appreciating to RM4.20 at year-end in 2024. Despite the overall sluggish performance in 2023, we foresee the ringgit to rebound and appreciate in 2024. ,” said MIDF Research.<\/span><\/p>\n

MIDF also added that China\u2019s economic recovery will also be a boon for the ringgit, as it will be supported by a more vibrant regional trade performance.<\/span><\/p>\n

However, there are several factors that can still hamper ringgit’s recovery, such as the possible risk of recession in the USA and a continued weakness in the global trade and manufacturing activities.<\/span><\/p>\n

<\/span>Challenging year for the ringgit in 2023<\/span><\/h2>\n

Ringgit faced a very challenging year in 2023, reaching the lowest point it has ever been since the Asian financial crisis in 1998.<\/span><\/p>\n

Read More : Ringgit Falls To Lowest It\u2019s Ever Been In 25 Years<\/a><\/strong><\/p>\n

In 2023, the Malaysian currency reached multiple low points, such as when it closed at a historic low of 4.794 against the US dollar in October, and closing at 3.527 to the Singapore Dollar in December.<\/span><\/p>\n

At one point, Ringgit was the second worst performing currency in Asia, only behind the Japanese Yen.<\/span><\/p>\n

Read More: Is The Ringgit In For Another Rough Year In 2024?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MIDF\u2019s research arm is expecting the ringgit to perform better this year, thanks to the reversal of fund flows<\/p>\n","protected":false},"author":51,"featured_media":20229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[256,216],"tags":[1294,1442,323,546],"class_list":["post-60708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","category-news-updates","tag-currency","tag-economic-growth","tag-economy","tag-ringgit"],"acf":[],"yoast_head":"\nRinggit Expected To Perform Better This Year, Says MIDF<\/title>\n<meta name=\"description\" content=\"MIDF\u2019s research arm is expecting the ringgit to perform better this year, thanks to the reversal of fund flows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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