The worst seems to be over for the ringgit for now.
The risk of the currency’s further depreciation has diminished significantly after Fitch Ratings on Tuesday surprisingly upgraded its sovereign rating outlook for Malaysia to “stable” from “negative”, while reaffirming the country’s long-term rating at “A-”.
Working in favour of the ringgit is the 18-month postponement of Umno’s party elections, as announced last Friday by its president Datuk Seri Najib Tun Razak, as that has removed some political uncertainties that had been weighing down on investor sentiment over the past few months.
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The risk of the currency’s further depreciation has diminished significantly after Fitch Ratings on Tuesday surprisingly upgraded its sovereign rating outlook for Malaysia to “stable” from “negative”, while reaffirming the country’s long-term rating at “A-”.
Working in favour of the ringgit is the 18-month postponement of Umno’s party elections, as announced last Friday by its president Datuk Seri Najib Tun Razak, as that has removed some political uncertainties that had been weighing down on investor sentiment over the past few months.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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