The Malaysian Ringgit has reached its lowest in the midst of strong dollar and weakened economy since 1998 FInancial crisis in Asia.
The Ringgit was placed in a difficult situation as well as other emerging market assets since Trump won the November 8 U.S. Presidential election. Even before the election, the currency is already under tension relative to low oil prices and worsen by the political scandal regards to the country’s diverted funds.
Fed recent interest rate hike has further increased the rates in 2017 but this will be backed up by recent announcement from OPEC and non-OPEC major oil producing countries.
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