Ringgit strengthens against US dollar, rally expected until year-end

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KUALA LUMPUR: The ringgit rose against the US dollar on Wednesday, reinforcing expectations that it will hit 4.50 versus the greenback by year-end, according to Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid.

The ringgit eased against a basket of major currencies.

The US Dollar Index (DXY) has trended down to 103.796, declining by 0.45 per cent.

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Category: EconomyBusiness

Markets: MalaysiaIndonesiaJapanSingapore

Topics: Forex /Business/Business News Federal Reserve US dollar Ringgit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 19:28:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 380 words

Reading Time: 3 minutes read

Sentences: 17 lines

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Copyright Owner: © The Star

News ID: 21663801

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