Ringgit Strengthens To Highest Level Against USD
264 views · Published 5 January 2018 · 1:16 · Indexed 17 October 2026
Channel: 7Edition · 2018 · News & Politics
The ringgit strengthened to its highest level against the US dollar since August 2016, boosted by higher oil prices. It was also the best performer among Asian currencies today, gaining about point 3% to 3.991 against the dollar. The ringgit broke the psychologically significant 4 level in morning trading and advanced further during the day. Mizuho Bank senior economist Vishnu Varathan attributed the rising ringgit to several factors. The latest catalyst would be a confluence of oil prices being very buoyant , paired with a dollar that is unable to hold its footing. The ringgit ended at a 20-month high of 4.0050, up 80 basis points, against the greenback.
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