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Ringgit strengthens 14.4% vs US$ in 3Q24, one of the best performing currencies globally

The Star LogoThe Star2h ago

Ringgit strengthens 14.4% vs US$ in 3Q24, one of the best performing currencies globally - The Star

Quick Summary:

KUALA LUMPUR: The ringgit was one of the best-performing currencies globally in the third quarter of this year (3Q2024), strengthening 14.4 per cent against the US dollar and 11.4 per cent on a year-to-date basis, said Bank Negara Malaysia’s (BNM) Financial Markets Committee (FMC).

"There was a shift in sentiment that led to more interest for conversion of export proceeds among exporters, and importers have also reduced their front-loading tendencies by purchasing only required quantities for their business activities,” it said.

It also noted that investor confidence in Malaysia has improved due to the nation’s robust economic growth and the government’s continued commitment to structural reforms.

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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-09 @ 21:45:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 454 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22969020

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About The Star

The Star Logo

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 38 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 3 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

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The story "Ringgit strengthens 14.4% vs US$ in 3Q24, one of the best performing currencies globally" was covered 2 hours ago by The Star, a news publisher based in Malaysia.

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  • URL: https://beamstart.com/news/ringgit-strengthens-144-vs-us-17284821181454

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