KUALA LUMPUR, March 13 – S&P Global Ratings forecasts a 9 percent recovery for the ringgit by the conclusion of 2024, signaling optimism for Malaysia’s currency amid ongoing depreciation. The projection, reported by Bloomberg, assures no imminent threat to Malaysia’s sovereign credit rating, underlining the nation’s robust external position backed by healthy reserves and consistent current account surpluses. Phua Yee Farn, a sovereign analyst at S&P in Singapore, projects the ringgit to strengthen to 4.40 against the US dollar by the end of 2024, with further improvement to 4.30 by the end of 2025, emphasizing Malaysia’s resilience amidst currency fluctuations driven by strong fundamentals and prudent economic policies.
