Foreign Exchange Market Malaysia

foreign exchange market Malaysia
deals with the trading of Malaysian currency Ringgit with other currencies of the world.

The rate of exchange of Ringgit depends on various economic and political factors of Malaysia.

Both the domestic and international financial markets play a major role in regulating the foreign exchange market Malaysia. The economic factors like government budget deficits or surplus, inflation levels, economic growth strategy taken up by the central bank of Malaysia – Bank Negara Malaysia, trade balance etc. influence the foreign exchange market of Malaysia.

Apart from the government and leading corporate houses in Malaysia, Maybank is a very popular foreign exchange service provider in Malaysia. The Maybank is the largest bank in Malaysia and is well known for maintaining an extensive network in the international financial market and is also proficient in handling the foreign exchange risk management.

Malayasia was one of those Asian crisis countries that suffered from destabilization in the capital market due to insignificant foreign exchange trading in the late 1990s. The traditional measures that are taken up to stabilize the capital inflows during any financial crisis are raising interest rate and devaluation of the currencies. But this strategy did not work in the late 1990s in Malaysia and this led to thin foreign exchange trading in Malaysia. The volatility transmission and time-varying volatility are some of the factors that affect the foreign exchange market of Malaysia.

The exchange rate of Malaysian Ringgit is always changing following a slight change in the money value of the Ringgit and other currencies of the world. The current exchange rates of one Malaysian Ringgit with some of the major currencies of the world are as follows:

Currency Exchange Rate
US$ 0.29
Pound Sterling 0.14
Canadian Dollar 0.30
Australian Dollar 0.35
Euro 0.21
New Zealand Dollar 0.41

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