Ringgit strengthens against US dollar in 1Q on RM13.5b non-resident portfolio inflow — BNM

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KUALA LUMPUR (May 16): Bank Negara Malaysia (BNM) said today the ringgit had appreciated 1.4% against the US dollar in the first quarter of 2019 (1Q19), driven mainly by non-resident portfolio inflows amounting to RM13.5 billion.

In a statement today on Malaysia's 1Q19 economic and financial developments, BNM said the ringgit had, however, depreciated 2.2% against the US dollar between April and yesterday (May 15), in line with most regional currencies.

"The recent depreciation pressure reflected cautious investor sentiments in global financial markets amid the weakening global growth outlook as well as uncertainties surrounding geopolitical and global trade developments," BNM said.