Ringgit Hits Fresh High Of 3.9665 Versus US Dollar After Lunch Break

KUALA LUMPUR, Jan 26 (Bernama) -- The ringgit continued its momentum to trade at 3.9665 against the US dollar after lunch break today, marking a fresh high since May 22, 2018, when it last stood at 3.9655.

Earlier today, Bank Muamalat Malaysia Bhd’s chief economist Dr Mohd Afzanizam Abdul Rashid said the local currency has upside potential, noting that the long-term average from July 21, 2005, to today is around 3.82 to the US dollar.

“This is supported by a sanguine outlook on Malaysia’s economy, particularly following Bank Negara Malaysia’s (BNM) recent Monetary Policy Committee meeting,” he added.

 -- BERNAMA