KUALA LUMPUR, July 31 -- The ringgit continued its uptrend today, closing at a near 11-month high of RM4.58 against the US dollar.
An analyst said this was driven by the Bank of Japan’s (BOJ) decision to raise interest rates and the anticipation of a Federal Reserve interest rate cut in September.
At 6 pm, the ringgit soared 315 basis points to 4.5885/5925, compared to the greenback’s closing of 4.6200/6235 on Tuesday.
-- BERNAMA
