Prasarana, the owner and operator of Malaysia's rail services, including the LRT networks, KL Monorail, and MRT lines, has confirmed that a cybersecurity incident has affected part of its internal systems.
KUALA LUMPUR: The Malaysian Institute of Economic Research forecasts that the ringgit could strengthen to between 4.20 and 4.25 against the US dollar by the end of 2024, up from 4.59 at the close of 2023.
"Solid foreign direct investment, repatriation of funds from government-linked companies, and a sustained current account surplus driven by robust exports in electronics, tourism and services further strengthen the outlook for the ringgit," MIER stated in its July 2024 Monthly Economic Review, released today.
After an outflow of RM823.6 million earlier in the year, the equities market saw an inflow of RM1.3 billion in July. Meanwhile, foreign inflows into the bond market totalled RM874.6 million in the first half of 2024. MIER also noted rising expectations for a Federal Reserve rate cut in September, spurred by growing recession concerns following disappointing July employment data.
MIER Ringgit US Dollar Interest Rate GDP Federal Reserve
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