Ringgit hits 4.50 breaching psychological mark against US$

At this juncture, the general view is that future US interest rate hikes have been priced in and the ringgit should be buffered by rising oil prices; however, the long-term outlook remains challenging.(Filepic)

PETALING JAYA: The ringgit has hit the psychological mark of 4.50 against the US dollar, as foreign investors continued to pare down their holdings of Malaysian government bonds.

At the same time, Bank Negara issued an extensive FAQ pertaining to the onshore trading of the ringgit in conjunction with the effort to stabilise the Malaysian currency, which had been buffeted by various external factors.