Ringgit ends higher against major currencies, eases versus US dollar
KUALA LUMPUR:The ringgit ended higher against major currencies on Thursday but weakened against the greenback as upbeat United States economic data reinforced expectations of further interest rate hikes by the US Federal Reserve (Fed).
KUALA LUMPUR, Sept 24 — The Malaysian ringgit concluded the trading day on an upward trajectory against major currencies, with a slight dip against the US dollar, according to wire material. By 6 pm, the ringgit dropped to 4.0840/0880 against the greenback, down from Wednesday’s closing rate of 4.0780/0825. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid highlighted the ringgit's volatile trading pattern concerning the US dollar, which fluctuated between RM4.0940 in the morning and RM4.0793 in the afternoon.
Dr Rashid pointed out that despite the US dollar's strength, maintaining the US Dollar Index (DXY) at approximately 101 points, the ringgit demonstrated resilience. At the day's close, the ringgit outperformed a basket of major currencies, including the euro, British pound, Japanese yen, Singapore dollar, Thai baht, Indonesian rupiah, and Philippine peso.
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- Ringgit gains broadly but eases against US dollar freemalaysiatoday.com
- Ringgit ends higher against major currencies, eases versus US dollar malaymail.com
