The Ringgit has been losing ground against the Chinese Yuan this Friday as the price reaches the lowest level since 2017. This down movement is backed by the decision of the Malaysian Central Bank to keep the interest rate unchanged this week, in order to accelerate the economic recovery. The MYR has weakened also because of the increasing number of deaths related to Covid-19 and several restrictions and lockdowns that have been imposed by the government in the capital Kuala Lumpur and across the country.
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© 2019 High Leverage FX - All Rights Reserved.