How Much RMB is 1 Ringgit?: Exchange Rate Interpretation and Analysis of Recent Hot Topics
Recently, foreign exchange market fluctuations have attracted widespread attention, especially the exchange rate changes between the Malaysian ringgit (MYR) and the Chinese yuan (CNY), which have become a hot topic in cross-border trade and tourism. This article will provide you with structured data and analysis based on the hot spots on the entire network in the past 10 days.
1. Current exchange rate data (as of November 2023)
| currency pair | exchange rate | Increase and decrease (7 days) |
|---|---|---|
| 1MYR → CNY | 1.546 | +0.3% |
| 100 CNY → MYR | 64.68 | -0.2% |
2. Recent hot events affecting exchange rates
1.China economic data released: The PMI index rebounded to 50.2 in November, and the RMB exchange rate gained support.
2.Bank Negara Malaysia Policy: Keeping the benchmark interest rate unchanged at 3.0%, the fluctuation of the ringgit narrowed.
3.Cross-border travel recovers: The mutual visa exemption policy between China and Malaysia has driven two-way consumption, and the number of exchange rate inquiries has increased by 120% every week.
| Hot keywords | search index | Relevance |
|---|---|---|
| malaysia travel | 458,000 | 85% |
| RMB exchange rate | 1,200,000 | 92% |
| Ringgit exchange | 187,000 | 78% |
3. Historical exchange rate comparison (2023)
| time period | highest value | lowest value | Fluctuation range |
|---|---|---|---|
| January | 1.592 | 1.521 | 4.7% |
| June | 1.577 | 1.538 | 2.5% |
| November | 1.551 | 1.542 | 0.6% |
4. Practical exchange suggestions
1.Bank channel: The buying price of ICBC spot exchange is 1.543, the selling price is 1.549, and the spread is about 0.4%.
2.Airport exchange: The exchange rate at Kuala Lumpur Airport is usually 0.5-1% lower than in the city.
3.electronic payment: Alipay’s overseas exchange rate discount can reach 0.2%, and supports direct MYR settlement.
5. Forecast of future trends
According to the latest survey by Bloomberg, the median forecast of 12 institutions for the exchange rate at the end of 2023 is1 MYR = 1.535-1.555 CNYinterval. The main influencing factors include:
• End of Fed rate hike cycle
• China’s import and export data improved
• Peak season for Malaysian palm oil exports
Users with exchange needs are advised to pay attention to the central price guidance issued by the China Foreign Exchange Trading Center every Wednesday.
Conclusion: Exchange rate fluctuations reflect the economic interaction between the two countries. It is recommended to exchange through formal channels and pay attention to real-time market conditions. The data in this article are for reference only. Actual transactions are subject to bank quotations.
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