KUALA LUMPUR, June 7 — HSBC expects the ringgit to stabilise against the US dollar in the second half of 2022 , strengthening to 4.28 by the end of the year.
Today, the ringgit opened at 4.39 versus the US dollar and it had hit 4.40 against the US dollar on May 19, 2022, marking the lowest rate since March 2020. He also said Malaysia is on a solid growth path and expects the country’s gross domestic product growth to be at 5.5 per cent this year, attributed to good manufacturing and higher commodity prices.
Meanwhile, HSBC global private banking chief investment officer for Asia, Fan Cheuk Wan expects the global economic cycle to continue but at a slower rate while inflation to ease gradually. “We expect global energy shock and supply chain challenges to push up global inflation to 7.5 per cent in 2022 before moderating to 5.1 per cent in 2023,” Fan said.
Hsbc is wrong, kuli said it will go down to rm5.50.
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