USD/MYR set to end the year at 4.40 – ANZ

The Malaysian Ringgit has lost ground in 2023. Economists at ANZ Bank analyze USD/MYR outlook.

An increase in tourist arrivals will further lift demand for MYR

An improvement in sentiment over China’s economy will be a positive driver in the following quarters. 

With the US Fed’s hiking cycle concluding in H2 this year, we expect portfolio inflows to improve, providing support to the Ringgit. An increase in tourist arrivals will further lift demand for MYR. 

We expect MYR to appreciate moderately over the second half of 2023, ending the year at 4.40.