Page 81 - Ringgit News Today

KUALA LUMPUR: The ringgit resumed its upward momentum today versus the US dollar, closing the first trading week of December at 4.38, a level not seen since June this year, a dealer said.

KUALA LUMPUR: The ringgit opened higher against the US dollar today after the greenback retreated following the United States (US) central bank’s less hawkish tone on interest rate hikes, an analyst said.

Local note is also mostly higher against a basket of major currencies.

MOST Asian currencies recovered marginally on Tuesday, with the South Korean won and Singapore dollar leading gains, as the U.S. dollar pared some of its overnight gains.

KUALA LUMPUR: The ringgit retreated from its gains last week to open lower against the US dollar on Tuesday, weighed by a strengthening greenback and declining crude oil prices, an analyst said.

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The ringgit is likely to revisit the 4.46 level next week, last seen in August as market mood continues to be lifted by renewed interest rate hopes and optimism about the new government.

The ringgit should start to strengthen against the US dollar from the second quarter of next year onwards and settle at the 4.40 level in the fourth quarter of 2023, Malaysian news agency Bernama reported, citing a note released by AmBank Research.

Increased political certainty and stability in the country following the appointment of Datuk Seri Anwar Ibrahim as Malaysia's new prime minister, amid a challenging global landscape, will underscore a recovery in the value of the ringgit and the local equities market.

KUALA LUMPUR, Nov 26 — The ringgit is likely to revisit the 4.46 level next week, last seen in August as market mood continues to be lifted by renewed interest rate hopes and...