No Result
View All Result
  • Login
  • Register
Business & Technology
SUBSCRIBE
  • .
  • Thought Leadership
  • Conversations
  • International Voices
  • News
  • Wealth
  • Digital Transformation
  • Lifestyle
  • Videos
  • Podcasts
  • .
  • Thought Leadership
  • Conversations
  • International Voices
  • News
  • Wealth
  • Digital Transformation
  • Lifestyle
  • Videos
  • Podcasts
No Result
View All Result
Biztech Asia
Home News

Ringgit expects to remain steady against the greenback

by editorial
26/11/20
in News
1 min read
0
Ringgit expects to remain steady against the greenback

The ringgit traded lower against the US dollar today, but is expected to remain steady as the greenback continues its downside weakened on ambiguous minutes from the latest Federal Reserve meeting.

According to Mohd Afzanizam Abdul Rashid, chief economist at Bank Islam, the ringgit is expected to continue its uptrend, supported by the firmer crude oil prices. The Brent crude is really looking up as the prices have marched higher to USD48 per barrel.

He told Bernama that the rise in crude oil prices will always be associated with Malaysia’s economy with respects to the government’s revenue and the oil and gas industry. These will be the key factors in supporting the ringgit in the immediate term.

The talks of the discovery of the Covid-19 vaccine alongside the possibility of the Organisation of the Petroleum Exporting Countries (Opec) delaying its plan to increase their production next year have also fuelled hope that the global economic recovery will be sustainable next year, Afzanizam commented.

However, he noted that profit-taking could seep in since the ringgit has appreciated quite considerably. All eyes will be on the Budget 2021 approval from members of Parliament. There could be a chance that the ringgit could experience some weaknesses in light of the uncertainty on the budget (vote).

At 9am, the local currency stood at 4.0850/0880 against the greenback compared with Wednesday’s close of 4.0835/0890. While against the Singapore dollar, it stood at 3.0503/0537 compared with Wednesday’s close of 3.0408/0454.

Previous Post

Supply disruptions may push prices up says Top Glove

Next Post

Sector rotation from tech stocks to value and cyclicals

editorial

editorial

Related Posts

Tricky start for major currencies
News

Tricky start for major currencies

Bitcoin and US tech stocks, the biggest market bubbles now
News

Bitcoin and US tech stocks, the biggest market bubbles now

Watsons and Grab in regional O+O partnership
News

Watsons and Grab in regional O+O partnership

MDEC appoints new chief financial officer
News

MDEC appoints new chief financial officer

M&A valuations boom in the second half of 2020 despite impacts of the pandemic
News

M&A valuations boom in the second half of 2020 despite impacts of the pandemic

Greater China equities – a resilient way forward
News

Growing foreign interest pours into China

Next Post
Sector rotation from tech stocks to value and cyclicals

Sector rotation from tech stocks to value and cyclicals

Protect your eyes, eliminate blindness

Protect your eyes, eliminate blindness

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Recommended Stories

Mind your health

Mind your health

USD as the world’s reserve currency is here to stay for a very long time

USD as the world’s reserve currency is here to stay for a very long time

Cryptocurrencies are back

Cryptocurrencies are back

Popular Stories

  • Economic recovery: an elusive thought?

    Economic recovery: an elusive thought?

    0 shares
    Share 0 Tweet 0
  • Cannibalising your business can be profitable

    0 shares
    Share 0 Tweet 0
  • Sexual fulfillment builds confidence and well-being

    0 shares
    Share 0 Tweet 0
  • Tech Stocks – Ant gets stomped on but REITS offer stability amid volatility

    0 shares
    Share 0 Tweet 0
  • Singapore REITS and China tech stocks – Which should you buy?

    0 shares
    Share 0 Tweet 0

About Us

A Business and Technology digital publication that engages business leaders in business and technology conversations to help everyone pivot, adapt, and thrive in these turbulent times.

LEARN MORE »

Contact Us

Phone: 016-2011 050

Email: editor@biztech.asia

Address:
Level 18, Boutique Office 1 (B01-C)
Menara 2, No. 3, Jalan Bangsar,
KL Eco City, 59200, Kuala Lumpur.

Email Newsletter

Loading

© 2020 Business & Technology - made possible by Milestones Digital.

No Result
View All Result
  • Home
  • Thought Leadership
  • Conversations
  • International Voices
  • News
  • Wealth
  • Digital Transformation
  • Lifestyle
  • Videos
  • Podcasts
  • Login
  • Sign Up

© 2020 Business & Technology - made possible by Milestones Digital.

Welcome Back!

Sign In with Facebook
Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Google
OR

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

will use the information you provide on this form to be in touch with you and to provide updates and marketing.