Weakening Ringgit among Media Focus
The ringgit has weakened further against the US dollar to 4.357. It is said this is the lowest level seen since May 18, 2020, when the ringgit was trading at 4.3610 against the greenback.
On the 25th April 2022, among the media focus on Economy topic are about the weakened of the ringgit along with the focus on the Singapore dollar-to-ringgit exchange rate that has rose to a record high of 3.1665 in the morning of April 25.
With 20 pronouncements about the ringgit’s weakness in the face of rising oil and palm oil prices, Bank Islam head economist Dr Mohd Afzanizam Abdul Rashid has become one of the top influencers on the economy topic.
Aside from that, he predicted that the ringgit will face weakening pressure versus key pairs in the near future. “Ringgit stability is more likely to be seen once the BNM starts to factor in the strength of the economic fundamentals, as well as the economic and inflation prospects,” he said.
As the weakening ringgit is the major emphasis of the economy topic, some of the trending keywords, such as Bank Negara Malaysia and Singapore, can be found in the cloud word.
Meanwhile, the word China is one of the most popular search terms because China is Malaysia’s major trading partner, and the ringgit’s weakness will continue unless China ramps up stimulus measures or the yuan stabilises.