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Since the interest rate cut by the Federal Reserve, the Malaysian Ringgit has not waned in its appreciation, becoming the second strongest currency among Asia-Pacific currencies, trailing slightly behind the top performer, the Thai Baht.
After the Federal Reserve cut interest rates on September 18, Asian-Pacific currencies against the US dollar generally saw an uptrend, with the Malaysian Ringgit's appreciation also relatively significant, ranking only behind the Thai Baht.
According to Bloomberg data, the Thai Baht's exchange rate against the US dollar has shown the most significant increase among Asian-Pacific currencies, having appreciated a total of 2.73% from September 19 onwards, making it the best performer in the region.
The Malaysian Ringgit, with an appreciation rate of 2.45%, ranked second; the Korean Won against the US dollar rose by 1.71%, ranking third.
Rose to 4.09 at one point.
It is worth mentioning that on the last day of September, the momentum of the Ringgit exchange rate continued to rise and broke through 4.10, reaching a level of 4.0947 at one point, marking a new high in 41 months since May 2021.
Mohamed Afzani Bin Azan, Chief Economist of Malaysia's Muamalat Bank, expressed that the upward trend of the Ringgit exchange rate is expected to continue, but it is not ruled out that some market traders may take advantage of arbitrage opportunities after the Ringgit appreciates overall.
On a global scale, the economic signals from the USA also appear mixed; in August, personal consumption expenditures (PCE) slowed to 2.2%, while the core PCE stabilized at 2.7%.
That being said, it is expected that the Federal Reserve will continue its loose monetary policy in the following November and December.
Considering this point, the focus this week will be on data from the United States...
After the Federal Reserve cut interest rates on September 18, Asian-Pacific currencies against the US dollar generally saw an uptrend, with the Malaysian Ringgit's appreciation also relatively significant, ranking only behind the Thai Baht.
According to Bloomberg data, the Thai Baht's exchange rate against the US dollar has shown the most significant increase among Asian-Pacific currencies, having appreciated a total of 2.73% from September 19 onwards, making it the best performer in the region.
The Malaysian Ringgit, with an appreciation rate of 2.45%, ranked second; the Korean Won against the US dollar rose by 1.71%, ranking third.
Rose to 4.09 at one point.
It is worth mentioning that on the last day of September, the momentum of the Ringgit exchange rate continued to rise and broke through 4.10, reaching a level of 4.0947 at one point, marking a new high in 41 months since May 2021.
Mohamed Afzani Bin Azan, Chief Economist of Malaysia's Muamalat Bank, expressed that the upward trend of the Ringgit exchange rate is expected to continue, but it is not ruled out that some market traders may take advantage of arbitrage opportunities after the Ringgit appreciates overall.
On a global scale, the economic signals from the USA also appear mixed; in August, personal consumption expenditures (PCE) slowed to 2.2%, while the core PCE stabilized at 2.7%.
That being said, it is expected that the Federal Reserve will continue its loose monetary policy in the following November and December.
Considering this point, the focus this week will be on data from the United States...
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$Apple (AAPL.US)$ Can I see you at 220?
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$RHBBANK (1066.MY)$ What's going on today, why is it dropping so much? 😂
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$99SMART (5326.MY)$
According to Forbes' instant billionaire list,Li Lianghuawith a net worth of $2.8 billion, ranks 1198th in the global billionaire list and 7th on the Malaysian list, second only to Tan Sri Jeffrey Cheah, the founder and chairman of Sunway Group (SUNWAY, 5211, Main Board Industrial), whose fortune is $3 billion (about RM 13 billion).
🩻🩻🩻🩻
It is worth noting thatLi LianghuaAs soon as he made the list, he surpassed the total executive director of IOI Properties Group (IOIPG, 5249, main board property), Li Yaosheng, and the chairman of Genting (GENTING, 3182, main board consumer), Tan Sri Lim Kok Thay.
According to Forbes' instant billionaire list,Li Lianghuawith a net worth of $2.8 billion, ranks 1198th in the global billionaire list and 7th on the Malaysian list, second only to Tan Sri Jeffrey Cheah, the founder and chairman of Sunway Group (SUNWAY, 5211, Main Board Industrial), whose fortune is $3 billion (about RM 13 billion).
🩻🩻🩻🩻
It is worth noting thatLi LianghuaAs soon as he made the list, he surpassed the total executive director of IOI Properties Group (IOIPG, 5249, main board property), Li Yaosheng, and the chairman of Genting (GENTING, 3182, main board consumer), Tan Sri Lim Kok Thay.
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102648857 : Not bad, not bad.