Better rating revision lifts ringgit in early trade

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It appreciated versus the Singapore dollar to 3.1726/1760 from Monday’s close at 3.1779/1805, and rose against the Japanese yen to 3.2450/2482 from 3.2564/2589.

The local currency also strengthened against the British pound to 5.3952/4001 from 5.4064/4101 and advanced vis-a-vis the euro to 4.6501/6543 from 4.6535/6567.

In its latest report on Malaysia, S&P foresees the country’s gross domestic product (GDP) growth at 6.1% in 2022 and 5% in 2023.

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Category: InvestingFinance

Topics: Higher Growth Local Currency Strong Outlook Malaysia’s Long-term Domestic Strengthened

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2022-06-28, 01:26:52

News Timezone: GMT +8:00

News Source URL: theedgemarkets.com

Language: English

Reading Time: 3 minutes read

Article Length: 457 words

Coverage Area: Malaysia

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News ID: 17052

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