Convert USD to MYR
Malaysia is a trade dependent economy, and as a result, the value of the MYR sees significant fluctuation due to factors that impact international trade. For instance, the global financial crisis and the US-China trade war, both served to weaken the currency, turning USD/MYR bullish.
As an emerging market currency, the Malaysian ringgit is considered among the riskier currencies to trade in the forex market. As a result, when the markets trade with a risk-off sentiment, investors sell-off the MYR and head towards more stable, major currencies like the US dollar. On the other hand, when the market trades with a risk-on sentiment, the USD/MYR turns bearish.
Like most Asian economies, Malaysia enjoys a close trade relationship with China. Hence, significant economic events in China that affect its international trade can drive fluctuations in the value of the MYR. Any event that causes a slowdown in China's economic growth weakens the value of the MYR and causes USD/MYR to trade bullish.