tags - Sinar Daily

Expert says raising salaries, but making sure purchasing power of the wages remains high FILEPIX

Hollywood writers and their supporters walk the picket line outside Warner Bros Studios in Burbank, California, June 30, 2023. (Photo by Robyn Beck / AFP)

The ringgit will likely trade in a cautious mode next week with investors eyeing updates on the global economic performance.

Hong Leong Investment Bank Research said in its recent report that it expects the ringgit to have an overall depreciation trend in the second half with an average of USD-MYR 4.67 to reach a 2023 average of 4.56 and year-end target of 4.40.Hong Leong Investment Bank Research said in its recent report that it expects the ringgit to have an overall depreciation trend in the second half with an average of USD-MYR 4.67 to reach a 2023 average of 4.56 and year-end target of 4.40. Photo for illustrative purposes only - 123RF

BNM may sell US dollar forward to intervene as it did in the past

Photo for illustrative purposes.

The move comes after Colombo cut subsidies, doubled taxes and promised to privatise hundreds of state enterprises under a $2.9 billion IMF bailout agreed in March.

US President Joe Biden speaks about the economy at the Old Post Office in Chicago, Illinois, on June 28, 2023. - Photo by AFP

Two indicators that have led to the prediction, which are the US Conference Board’s leading economic index and the shape of the yield curve in the US Treasury. - AFP PIX

Economy Minister Rafizi Ramli during a press conference on the consumer price index (CPI) for the month of May held at the ministry in Putrajaya. - Photo by Bernama