Ringgit to recover gradually over time

At 9 am(0100gmt) Tuesday, the local traded at 4.2390/2420 against the greenback from 4.2320/2350 recorded at 6 pm Monday.

KUALA LUMPUR: RHB Research expects ringgit to recover gradually over time, as it has overshot on the downside from its fundamental value.  

The research house said ringgit strengthened by 0.1% to the RM4.227 per US dollar level in the first week of November, after depreciating by 0.1% in October.