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Better rating revision lifts ringgit in early trade

The Star Business LogoThe Star Business1 mo ago

Better rating revision lifts ringgit in early trade

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KUALA LUMPUR: The ringgit opened broadly higher against the US dollar this morning as risk appetite for the local currency strengthened following the positive revision of Malaysia’s long-term sovereign credit ratings outlook by S&P Global Ratings (S&P).

"As long as the average headline inflation does not surpass 3.0 per cent year-on-year, we believe domestic spending will remain on an upward trajectory for this year and 2023,” it said.

In its latest report on Malaysia, S&P foresees the country’s gross domestic product (GDP) growth at 6.1 per cent in 2022 and 5.0 per cent in 2023.


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Article Details

Author / Journalist: The Star Online

Category: Economy

Topics: US dollar Rating agency Sovereign credit Ringgit /Business/Business News GDP Forex

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-28, 10:25:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 3 minutes read

Article Length: 516 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 17109

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About The Star Business

The Star Business Logo

Main Topics: Economy

Official Website: thestar.com.my

Update Frequency: 36 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 10h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

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