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亚马逊云账号(www.2km.me)_Ringgit likely to settle at more stable scenario

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One possibility that cannot be ruled out is for the ringgit to remain slightly on the weaker end of its long-term trading range between RM3.80 and RM4.50 against the US dollar next year.

THE outlook for ringgit in 2022 continues to be challenged by a combination of external and internal factors that will strongly influence its movement.

One possibility that cannot be ruled out is for the ringgit to remain slightly on the weaker end of its long-term trading range between RM3.80 and RM4.50 against the US dollar next year.

Economists generally opine that the full-year average for the ringgit against the US greenback will fall between RM4.20 and RM4.30 in 2022 compared with the estimated range of RM4.10-RM4.20 in 2021.

The local currency started 2021 at RM4.09 against the US dollar and briefly strengthened to RM4.01 on Jan 4 and thereafter weakened to reach a low of RM4.24 on Aug 11.

Since then, the ringgit has been hovering around RM4.14 to RM4.23 levels. Year-to-date, the local currency performance against the US dollar has fallen by 5.3% to RM4.23.And compared to its regional peers, the ringgit is currently among the worst performers after the Vietnamese dong, Indonesian rupiah, Singapore dollar and the Philippine peso this year.

However, expectations for the domestic economy to remain open for a larger part of the year in 2022, stronger crude oil prices and the appreciation of the Chinese yuan also helps to limit the selling pressure on the ringgit currently.

According to AmBank Group chief economist and member of the Economic Action Council Secretariat Anthony Dass, the selling pressure on the ringgit is expected to remain in 2022.According to AmBank Group chief economist and member of the Economic Action Council Secretariat Anthony Dass, the selling pressure on the ringgit is expected to remain in 2022.

On the global front, factors influencing the ringgit include the hawkish tone of the global central banks, rising uncertainties on the potential new virus variants and the efficacy of the vaccines, China’s yuan direction against the US dollar, the global oil price movement, geopolitical issues and the political issues such as the US mid-term election.

In Malaysia, the focus will be on the speed of the economic recovery, the implementation and outcome of Budget 2022 as well as the 12th Malaysia Plan and other blueprints that have been unveiled.

Dass adds: “Another concern for Malaysia next year is the financial strains once the stimulus measures ends.

“The focus is on the non-performing loans, bankruptcies, delinquencies and unanticipated shocks, fiscal and public debt management.”

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