The Malaysian currency is known as “Ringgit”. This currency is known as one of the stable currencies in the world. The rate of Malaysian Ringgit is most commonly checked through the rate of USD.
According to the world rankings of currency, US Dollars is places 9th among the whole world. the Malaysian ranking can be quite behind it. But the Malaysian ranking is stable, over the years the Malaysian economy has been the most stable economy in the world. Currency is part of the country’s economic stability.
The rankings of world currency rates always change. So, apart from concentrating the world rankings it is always good to know the currencies which are stable in the economy. Though USD ranks about the top 10 currencies in the world, both USD and Malaysian Ringgit are stable currencies in the world.
Current rate of USD to Malaysian Ringgit:
The current currency rate from USD to Malaysian Ringgit is
1 USD = 4.1755 RM
This Malaysian currency rate is the current rate taken in 3rd December 2019. The currency rate as of today changes between 4.1715 to 4.1762. 4.1755 RM rate is viable it can change the ratings as of the in-between ratings of today.
Before this rate it was shown maybe above a month ago, the rate was 4.1792 which is higher than the current rate. But as mentioned earlier the standard amount of currency is maintained over the time.
The current ratings show good improvement of Malaysian currency ratings. Since Malaysia is a country of various developing sectors, the economy of the country is good. The day to day currency rates depends on the economy, capital, stock markets, stock exchange, trade systems and various other factors of a country. These factors judge the currency rates and are ranked according to the country’s system.
TABLE OF CURRENT RATINGS: (fig 1)
|Highest||4.2217 MYR||2nd September 2019|
|Average||4.1650 MYR||In the current period|
|Lowest||4.1032 MYR||15th July 2019|
Malaysian Ringgit is one of the stable currencies in the world. Though it does not rank in the top 10 or more the country has a good economy. It is one of the recommended countries to earn more income. The stability is clear in the above table of current ratings (fig 1). The table shows that though there are changes in the country’s currency, it always stays in the standard rate. As mentioned above in the currency rate section the before rate was 4.1792 which shows that the current currency rate has decreased. Even if there is a slight fluctuation the standard rate 4 is stable.
|Before rate 4.1792||Current rate 4.1755|
This stability clearly shows that the country, Malaysia knows how to maintain a stable function and development of their economy.
The reason for its stability is due to proper maintenance. This comes with proper rules and regulations produced by the government of the country. Even when the country welcomes other countries to open new foreign businesses in the country, they always inspect and see that these new companies does not affect the country’s growth of GDP and economy. Over the past years there has been more improvement and stability in the country and in their economy.
The currency rates can be assumed. The future ratings can be precisely judged. According to the technological calculations and various other methods even next year currency ratings can be assumed. It can be assumed like how we can see which day in a particular date can be on next month. These assumptions are assumed based on the economic functions of the country such as trade systems, large industrial sectors and other factors.
Graph of Current and Predicted rate of Malaysian currency: (fig 2)
Below are the points which is the prediction of Malaysian currency as of the above figure 2.
- As of the current rate it is estimated that there will be an increase in the next month which is next year January 2020. The estimates increase is 0.0016.
- By 6 months after January 2020 which is June – July 2020 there can be a decrease in the currency.
- After 1-year 2020 there will be further decrease in the currency but there can be stability in the statistics presumed.
- After 3 years of 2020 there is a slight increase in the currency.
- By the 5th year there is continuous stability and the graph shows that it remains to be in the same amount of 3rd December 2019
- After the 5th year there is a possibility if increase of rate and that increase will be maintained.
The maintenance will last for 3-5 years as from 2020. Which is the standard rate of 4. —
- There will then variances and changes in the standard rate itself for the next 7-13 years.
Key points of Malaysian ringgit:
- The Malaysian currency is known as “Ringgit”.
- The Malaysian ringgit rate is mostly assumed with the USD rate
- Though the Malaysian currency is not ranked top it is the most stable economy in the world.
Related article: Current exchange rates of MYR and USD