UBS sees ringgit weakening this year, before recovering in 2020

According to UBS senior economist for Asean, Edward Teather, the group

PETALING JAYA: The ringgit could weaken to as much as 4.4 against the US dollar this year before recovering in 2020, predicts UBS Investment Bank.

The international brokerage’s projection for the local currency is one of the most pessismistic to date vis-a-vis a Bloomberg poll of 38 economists that put the median forecast for the ringgit to average at 4.1475 against the US dollar this year before appreciating further to 4.01 against the greenback next year.