Ringgit soars 1.8% as new PM sworn in

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The story "Ringgit soars 1.8% as new PM sworn in" was covered 2 months ago by The Star, a news publisher based in Malaysia.

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The Star 2 mo ago

Ringgit soars 1.8% as new PM sworn in - The Star

Quick Summary:

KUALA LUMPUR: The ringgit climbed 1.8 per cent to its highest in over two months versus the US dollar on Thursday with the appointment of Datuk Seri Anwar Ibrahim as Malaysia’s 10th Prime Minister, thus easing the political uncertainty and the weak US dollar following the Federal Open Market Committee’s (FOMC) minutes.

Meanwhile, the ringgit was traded mostly higher against a basket of major currencies.

At 6 pm, the local note gained 815 percentage points to 4.4910/5000 against the greenback from Wednesday’s close of 4.