Currencies

Malaysian Ringgit Set for Biggest Monthly Decline Since 2015

Currency has gone from top Asia performer to one of the worst
A Harris win in the US election will boost ringgit: OCBC, MUFG

Malaysian ringgit banknotes.
Photographer: Samsul Said/Bloomberg

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By Karl Lester M Yap

October 30, 2024 at 2:46 AM EDT

Malaysia’s currency is on course for its worst month in more than nine years, as investors scale back on risk assets amid concerns over the US election.

The ringgit is down more than 6% against the dollar in October, putting it on pace for its biggest monthly loss since August 2015. The ringgit traded at 4.39 per dollar on Wednesday.