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Period : Jan 2020 – April 2021
Date : 17th Apr 2021
Researcher : Umar Rosli
USD/MYR Exchange Rates 2020-Present
USD/MYR showing ups and downs during this period. USD/MYR have a huge increase from early of January2020 until 23rdMarch 2020 by 8.8%. The highest exchange rate of USD/MYR for this period is RM4.45. After that, the currency rate slowly decreasing until the lowest point of RM4.01 at 4th January2021. USD/MYR increase slightly until the current rate for this month exceed RM4.13 with average rate over the period of RM4.17. However, USD/MYR exchange rates increases only by one percent since January 2020 until now.
Average USD/MYR Rate per Month
This graph illustrates the average price of USD/MYR per month from 2020 until current month of 2021. From the previous graph, the currency rate starts dropping from March 2020 but the average currency rate for March 2020 is still increasing until the highest average currency rate on April 2021 which is RM4.35. After that month, the average currency price starts dropping slowly until RM4.04 as of January 2021. The currency rate starts increasing slowly until the current average price for March 2021, RM4.11
CNY/MYR Currency Exchange Rate
The exchange rates for CNY/MYR tells a different story from USD/MYR exchange rate. The currency rates increasing where the CNY/MYR rate as of 1 January 2020 is RM0.59 and the latest currency rate as of 16th April 2021 is RM0.63. However, the currency rate also declining a little bit from RM0.625 on 24th March 2020 to RM0.598 on 3rd June 2021. After that, the currency rate slowly increasing until now. Based on the analysis, CNY/MYR exchange rates increase by 6.8% over the period of time.
Currency Price Index 2020-Present
Price Index according to Price as at 4th Jan 2019
Above shows currency exchange index of three exchange rates: CNY/MYR, EUR/MYR and USD/MYR. CNY/MYR and EUR/MYR shows positive trend of exchange rates compared to USD/MYR. The interception of graph between CNY/MYR and USD/MYR on early of September 2020 show opposite results where CNY/MYR currency index going up and USD/MYR still dropping points.
Average Monthly Currency Exchange Index 2020-Present
Price Index according to Price as at 4th Jan 2019
This graph visualizes the average monthly currency exchange index for USD/MYR and CNY/MYR. Comparing for both exchange rates, from January to June 2020 shows USD/MYR index is higher than CNY/MYR. Eventually from July 2020 onwards, both exchange rates likely to reversed as CNY/MYR exchange rate increases and USD/MYR exchange rate decreases.
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