The Ringgit opened at 4.08 against the US dollar, its strongest level in nearly five years, supported by rising confidence in Malaysia’s economic outlook and a softer greenback. At 8am, it traded at 4.0890/0970, a level last recorded in April 2021.
Ringgit Hits RM4.08
Bank Muamalat chief economist Dr Mohd Afzanizam said the US Dollar Index weakened slightly as markets await key US Nonfarm Payroll data, which may influence monetary policy expectations.
The Ringgit also strengthened against major currencies including the pound, yen and euro, and appreciated against regional peers such as the Singapore dollar, Thai baht, Indonesian rupiah and Philippine peso.
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