Ringgit appreciates to 4.08 against US dollar | Money : vima

Ringgit appreciates to 4.08 against US dollar | Money


Friday, 30 Apr 2021 07:07 PM MYT
A teller counts RM100 notes in George Town November 27, 2019. ― Picture by Sayuti Zainudin
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KUALA LUMPUR, April 30 — The ringgit ended the week on a higher note against the US dollar today on steady crude oil prices, as well as optimism on Malaysia’s economic growth this year, said an analyst.
At 6pm, the local currency soared 130 basis points (bps) to close at 4.0870/0930 against the greenback from Wednesday’s close of 4.1000/1050.
The market was closed yesterday in conjunction with Nuzul al-Quran holiday.
The Asian Development Bank (ADB) recently said Malaysia’s gross domestic product is projected to rebound to six per cent in 2021 and stabilise at about 5.7 per cent in 2022, supported by the rollout of Covid-19 vaccines and continued accommodative fiscal and monetary policies.

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