{"id":13525,"date":"2015-01-23T17:34:32","date_gmt":"2015-01-23T09:34:32","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=13525"},"modified":"2015-09-02T11:53:54","modified_gmt":"2015-09-02T03:53:54","slug":"ringgit-hits-a-6-year-low","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/ringgit-hits-a-6-year-low","title":{"rendered":"Ringgit Hits A Six-Year Low"},"content":{"rendered":"

\"Ringgit<\/p>\n

The Ringgit currency hit a six-year low against the US dollar last week, amid concerns over possible rating downgrades of Malaysia\u2019s debts. This came after the Government revised its fiscal deficit forecast from 3% to 3.2% at its\u00a0budget revision announcement<\/a>.<\/p>\n

The initial Budget 2015 was tabled late last year with a projected expenditure of RM273.9bil against an expected revenue of RM235.2bil. It was based on global oil prices of US$100-US$105 per barrel. However, the recent oil slump has caused prices to fall as low as US$50 a barrel. The revised budget is now based on global oil price of US$55 per barrel.<\/p>\n

Fitch Ratings warned that it is \u201cmore likely than not\u201d to downgrade Malaysia\u2019s sovereign rating at its upcoming review in the first half of the year. However, Datuk Seri Najib Tun Razak had said at the budget revision announcement that we are not in the same crisis situation as in 1997 and 1998, or 2009, where stimulus packages were needed.<\/p>\n

The ringgit has depreciated 10% over the past three months, as it settled at 3.6172 against the US dollar on last Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ringgit hits a six-year low amid concerns over possible rating downgrades of Malaysia\u2019s debts.<\/p>\n","protected":false},"author":9,"featured_media":13513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[243,216,284],"tags":[],"class_list":["post-13525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budget-2015","category-news-updates","category-ringgit"],"acf":[],"yoast_head":"\nRinggit Hits A Six-Year Low | iMoney<\/title>\n<meta name=\"description\" content=\"The Ringgit hits a six-year low amid concerns over possible rating downgrades of Malaysia\u2019s debts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/ringgit-hits-a-6-year-low\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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