Rabobank: Downward pressure on ringgit

Every: ‘Unfortunately, there’s nothing much you can do, as these are global factors.’

KUALA LUMPUR: The ringgit is expected to weaken to around 4.45 to 4.50 against the US dollar towards the end of the year, as the same concerns that had caused the ringgit to depreciate in recent months intensify again, according to Rabobank Group.

The Netherlands-based financial institution pointed out that the continued uncertainty over the timing of the interest rate hike by the US Federal Reserve and the possibility of China devaluing its currency in the medium-term would remain the two most important global factors imposing downward pressure on the ringgit.