Editing Malaysian ringgit (section)

=== Post-US dollar currency peg performance (2005–present) ===
Following the end of the currency peg, the ringgit [[Depreciation (currency)|appreciated]] to as high as 3.16 MYR/USD in April 2008. The ringgit had also enjoyed a period of appreciation against the [[Hong Kong dollar]] (from 0.49 to 0.44 MYR/HKD)<ref name="Yahoo HKD-MYR">{{cite web |url=https://finance.yahoo.com/currency/convert?from=HKD&to=MYR&amt=1&t=5y |title=Hong Kong Dollar to Malaysian Ringgit Exchange Rate |access-date=7 May 2008 |publisher=[[Yahoo! Finance]] |archive-url=https://web.archive.org/web/20071222011957/http://finance.yahoo.com/currency/convert?from=HKD&to=MYR&amt=1&t=5y |archive-date=22 December 2007 |url-status=dead |df=dmy-all }}</ref> and the [[renminbi]] (0.46 to 0.45 MYR/CNY)<ref name="Yahoo CNY-MYR">{{cite web |url=https://finance.yahoo.com/currency/convert?from=CNY&to=MYR&amt=1&t=5y |archive-url=https://archive.today/20130105084504/http://finance.yahoo.com/currency/convert?from=CNY&to=MYR&amt=1&t=5y |url-status=dead |archive-date=5 January 2013 |title=Chinese Yuan to Malaysian Ringgit Exchange Rate |access-date=7 May 2008 |publisher=[[Yahoo! Finance]] }}</ref> as recently as May 2008. The initial stability of the ringgit in the late-2000s had led to considerations to reintroduce the currency to foreign trading after over a decade of being [[Internationalization|non-internationalised]]. In a CNBC interview in September 2010, [[Najib Tun Razak]], the then Prime Minister and Finance Minister of Malaysia, was quoted in stating that the government was planning the reentry of the ringgit into off-shore trading if the move will help the economy, with the condition that rules and regulations were put in place to prevent abuses.<ref>{{cite news|title=All eyes on ringgit after PM's remarks |url=http://www.btimes.com.my/Current_News/BTIMES/articles/rup0133-2/Article/ |publisher=Business Times Malaysia |author=Rupe Damodaron |date=13 September 2010 |url-status=dead |archive-url=https://web.archive.org/web/20100916025219/http://www.btimes.com.my/Current_News/BTIMES/articles/rup0133-2/Article/ |archive-date=16 September 2010 }}</ref> Despite considerations, the ringgit has continued to remain non-internationalised in a deliberate move to continue discouraging off-shore trading of the currency.<ref name="NDF curbs"/>

Political uncertainty following [[Malaysian general election, 2008|the country's 2008 general election]] and the [[Permatang Pauh by-election, 2008|2008 Permatang Pauh by-election]], falling [[Price of petroleum|crude oil prices]] in the late-2000s, and the lack of intervention by the Central Bank of Malaysia to increase already low [[Interest|interest rates]] (which remained at 3.5% between April 2006 and November 2008)<ref name="bloomberg late 2008 drop">{{cite web |url=https://www.bloomberg.com/apps/news?pid=20601087&sid=avjWue5eZMTE |title=Malaysian Ringgit Will Be a 'Washout', Institute Says (Update2) |access-date=4 September 2008 |author=Yong, David |date=4 September 2008 |publisher=[[Bloomberg L.P.|Bloomberg.com]] }}</ref> led to a slight fall of the ringgit's value against the US dollar between May and July 2008, followed by a sharper drop between August and September of the same year. As a result, the US dollar appreciated significantly to close at 3.43 MYR/USD as of 4 September 2008,<ref name="google.com USDMYR">{{cite web |url=https://www.google.com/finance/quote/USD-MYR |title=US Dollar ($) ⇨ Malaysian Ringgit (MYR) |access-date=22 July 2016 |publisher=Google Finance }}</ref> while other major currencies, including the renminbi and Hong Kong dollar, followed suit. The ringgit spiked at 3.73 MYR/USD by March 2009, before gradually recovering to 3.00 MYR/USD by mid-2011 and normalising at around 3.10 MYR/USD between 2011 and 2014.

The ringgit experienced more acute plunges in the value since mid-2014 following the escalation of the [[1Malaysia Development Berhad scandal]] that raised allegations of political channeling of billions of ringgit to off-shore accounts, and uncertainty from the [[2015–16 Chinese stock market turbulence]] and the effects of the [[2016 United States presidential election]] results. The currency's value fell from an average of 3.20 MYR/USD in mid-2014 to around 3.70 MYR/USD by early 2015; with China being Malaysia's largest trading partner, a Chinese stock market crash in June 2015 triggered another plunge in value for the ringgit, which reached levels unseen since 1998 at lows of 4.43 MYR/USD in September 2015, before stabilising around 4.10 to 4.20 to the US dollar soon after;<ref>{{cite web|url=https://finance.yahoo.com/news/malaysia-reserves-fall-again-ringgit-111114289.html|title=Malaysia reserves fall again as ringgit continues to slide|date=21 August 2015 |access-date=13 August 2016}}</ref> the currency later plummeted and hover below the 1998 lows at 4.40 and 4.50 MYR/USD, following the wake of the victory of pro-[[Protectionism|protectionist]] [[Donald Trump]] in the 2016 United States presidential election, which has raised questions of the United States' participation in the [[Trans-Pacific Partnership]] (TPP) (which Malaysia is a signatory of, and the United States had promptly pulled out from in January 2017) and [[Malaysia–United States relations#Trade and investment|Malaysia–United States trade]] as a whole (as the United States is among Malaysia's largest trading partners).

In response to the sharp drop of the ringgit in November 2016, Central Bank of Malaysia began a series of tougher crackdowns on under-the-counter [[non-deliverable forward]] trading of the ringgit in order to curb currency speculation.<ref name="NDF curbs">{{cite web|url=https://www.bloomberg.com/news/articles/2017-03-29/ringgit-trading-shrivels-offshore-as-crackdown-deters-investors|title=Malaysia's Currency Crackdown is Hitting Speculators|publisher=Bloomberg|date=29 March 2017 |access-date=21 March 2018}}</ref> Since then, the currency has seen a steady but consistent rate of appreciation against the US dollar, with significant increases since early-November 2017 following reports of positive economic performance, the restructuring of the TPP into the [[Comprehensive and Progressive Agreement for Trans-Pacific Partnership]] and increasing global oil prices. After appreciating as high as 3.86 to the US dollar as of early April 2018, the value dropped to around 4.18 MYR/USD by the end of October 2018 following increasing trade war tensions in response to the [[2018 China–United States trade war|China–United States trade war]], selloff panic from other emerging markets, as well as uncertainty in economic policy following an [[Upset (competition)|upset]] by the [[Pakatan Harapan]] coalition in the [[Malaysian general election, 2018|2018 general election]]. With the exception of the Euro, the currency's has also seen some recovery of value to pre-late 2016 levels against other major currencies, including the renminbi, British pound, Australian dollar, Japanese yen and Singaporean dollar, but remains less valuable overall than before the end of 2013.

The ringgit was ranked among the region’s worst-performing currencies through much of 2023 and early 2024, mostly due to widening interest rate differentials between the US and Malaysia. But in 2024, the currency saw an overall appreciation of 2.7% against the US dollar. It was also one of the few currencies in Asia to appreciate against the US dollar driven by external factors that previously weighed it down, alongside strengthening domestic fundamentals and a resilient domestic expenditure and further improvement in external demand to support growth in 2025.<ref>{{Cite web |last=Abellon |first=Andrea |date=2024-11-15 |title=What is Driving the Ringgit's Comeback? |url=https://amro-asia.org/what-is-driving-the-ringgits-comeback |access-date=2025-05-18 |website=ASEAN+3 Macroeconomic Research Office - AMRO ASIA |language=en-US}}</ref><ref>{{Cite web |url=https://www.bnm.gov.my/-/qb24q4_en_pr#:~:text=In%202024,%20the%20ringgit%20recorded,regional%20currencies%20experienced%20a%20depreciation. |access-date=2025-05-18 |website=www.bnm.gov.my}}</ref> This is a 39-month high against the US dollar due to resilient coordinated effort between the government and [[Bank Negara Malaysia]] and the country's promising economic prospects.<ref>{{Cite web |date=2024-12-31 |title=Ringgit closes out 2024 as top performer among major Asian currencies |url=https://www.thestar.com.my/business/business-news/2024/12/31/ringgit-closes-out-2024-as-top-performer-among-major-asian-currencies#goog_rewarded |access-date=2025-05-18 |website=The Star |language=en}}</ref>