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Malaysian Exporters Fuel Ringgit Strength
15 Oct
Summary
- Malaysian exporters may increase ringgit conversions.
- Foreign-currency deposits in Malaysia decreased significantly in August.
- This trend could strengthen the ringgit for the remainder of the year.
Malaysian exporters are expected to strengthen the ringgit through the remainder of 2026. Analysts suggest this is due to an anticipated increase in the conversion of foreign-currency earnings into the local Malaysian currency.
Supporting this outlook, data from August revealed a significant 8.6% decrease in foreign-currency deposits. These deposits fell to 308 billion ringgit, equivalent to $75.5 billion, indicating a potential outflow from foreign currencies into the Malaysian ringgit.
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