Markets
Winners and losers of a strong ringgit
Stephanie Jacob | 12 Jan 2018 00:30
Last year saw the ringgit staging a revival by appreciating 9.9% against the greenback
Around mid-2015, the ringgit began a slump that was driven by a raft of issues. The most significant drag was tumbling crude oil prices. This was compounded by the US Federal Reserve’s move to normalise interest rates.

Back then, prospects for the local currency was bleak in view of several lingering concerns closer to home. Political uncertainty and an unexciting economy did nothing to help give it a boost.

All-in, the ringgit’s slump had a far-reaching impact on the local economy and the bourse was not spared. Nonetheless, among the very few winners locally were the export companies as their goods and services became more attractive due to the cheaper ringgit.

This was mirrored on the stock exchange and export counters drew the attention of investors.