Malaysian Ringgit Hits 26-Year Low as Yuan Wobbles After China's Mortgage Rate Adjustment
Tuesday, 20 February 2024, 06:10
Impact on Currency Markets
The Malaysian ringgit sank to a 26-year low due to the overall decline in Asian currencies relative to the dollar. On the other hand, the Chinese yuan faced instability after China made a notable cut to its benchmark mortgage rates. Although the yuan faltered, it was supported by state bank investments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.