2024-04-29 Malaysian Ringgit News

Summary of Last Week

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

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  • Standard Deviation:


1. Overall Trend Analysis

Upon analyzing your dataset, it seems that the overall trend of exchange rates is a slight decrease. This observation is evident from the initial exchange rate of 0.28663 on 2024-03-29 02:00:02, which eventually drops to 0.28643 on 2024-04-11 14:00:03. Although there are slight rises and fluctuations along the line, the general trend seems to be a gradual decrease.

2. Seasonality Check and Patterns

Seasonality refers to the predictable change that repeats over a span of time. In this context, it exemplifies a specific change in exchange rates that recurs over the same period. However, for the data provided, it is challenging to identify apparent seasonality or recurring patterns in exchange rates changes, mainly because the data covers only a limited span, from late March to mid-April. For a clearer picture of a pattern or seasonality, data for at least a complete year or more would be beneficial. Regardless, there are minor fluctuations observed on a daily basis that may hint at daily market volatility.

3. Outliers Analysis

Outliers in a dataset represent the values that significantly deviate from the other observations. They might be due to variability in the data or could indicate experimental errors. In the provided dataset, there are no significant outliers observed. This analysis is based on the assumption that exchange rates not varying extensively within the given time interval can be considered usual for this type of time-series financial data. Although there are minor increases and decreases in exchange rates, they do not represent typical outliers.


  • The overall trend of exchange rates shows a slight decrease over the period provided.
  • The data does not show distinct seasonality or recurring patterns of exchange rate changes. However, minor daily fluctuations might occur.
  • There are no notable outliers in this dataset. While minor rises and falls are observed, they are considered standard in this kind of financial time-series data.
April April ushered in a turbulent period for the Malaysian Ringgit (MYR), as the exchange rate took a downward spiral, exhibiting a significant level of volatility. With a pattern of unsteady declines through the month, investors and market analysts are keenly watching the currency''s movement while questioning what the future holds. The Malaysian Ringgit started the month on a decent note, at 0.28663 on 29th of March, 2024, but what followed was a downward trend that saw MYR gradually plummeting to 0.28545 by April 2, and then dropping slightly lower to 0.28429 on April 3 — the lowest point for the first week of April. Although it made some recoveries, MYR remained largely below the starting point for the month. Coming to the second week of April, MYR witnessed a sudden surge peaking at 0.28839 on the 10th. However, this trend was ephemeral as it was soon followed by a free fall, with MYR returning to its decline through the second half of April, with intermittening periods of minor rebound. The pattern of the MYR in April indicates market instability and uncertainty. It reflects the broader financial unsteadiness that has been haunting the global markets, triggered by a myriad of factors, including geopolitical trends, international trade conflicts, and economic indicators. Though the underlying reasons for the MYR''s volatility requires a deeper investigation, some analysts suggest that the sentiment around the Malaysian economy plays a significant role. The slow economic recovery, coupled with the rising inflation rates, might have resulted in a lack of investor confidence affecting the MYR''s balance. Conversely, this fluctuation might evoke opportunities for savvy investors. Particularly for forex traders, such currency drops can present opportunities for short selling, while an upswing could be a good time for buying. Looking forward, with the continuing fluidity in global and local economic scenarios, it remains uncertain how the MYR will fare. Several factors, including the upcoming economic policies as well as global economic activities, are likely to keep affecting the MYR''s ride in the market. Investors and market analysts are thus advised to keep a close watch on the trends and developments, considering that these are likely to have both direct and indirect implications on MYR. As for ordinary citizens, the fluctuations might trickle down to impact the prices of imported goods, travelling expenses, and overseas education costs, among others. In these turbulent financial waters, staying informed and vigilant can help navigate and make informed decisions in the best interest of financial health and stability.Tale of Turbulence: MYR Continues its Slippery Slope in April

Current Middle Market Exchange Rate

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