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Name | Symbol | Market | Type |
---|---|---|---|
United States Dollar vs Malaysian Ringgit | FX:USDMYR | Forex | Exchange Rate |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0095 | -0.20% | 4.7055 | 4.703 | 4.708 | 4.7055 | 4.7015 | 4.7075 | 0 | 10:22:07 |
The Malaysian ringgit recovered from its early lows against the U.S. dollar in the Asian session on Wednesday after data showed that the nation's exports increased unexpectedly in November.
Data from the Department of Statistics showed that Malaysia's exports climbed 2.1 percent year-on-year in November, defying economists' expectations for a 0.7 percent decline. Meanwhile, imports grew only 0.1 percent, much slower than a 8.3 percent rise expected by the economists.
The total trade surplus of the country rose to MYR 11.1 billion in November from MYR 9.9 billion last year. Economists had forecast the surplus to shrink to MYR 4.1 billion.
Against the greenback, the ringgit rose to 3.5567 from an early early 6-year low of 3.5877.
If the ringgit extends its uptrend, it is likely to find resistance around the 3.49 area.
1 Year US Dollar vs MYR Chart |
1 Month US Dollar vs MYR Chart |
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