Positive turn for the ringgit?

People look at the exchange rate at a moneychanger displaying a poster of U.S. dollar bill, Chinese Yuan and Malaysia Ringgit in Singapore in this August 24, 2015 file photo. REUTERS/Edgar Su/Files

MANY people are wondering whether it is time to turn positive on the ringgit, after the emergence of several favourable developments that augur well for the ­currency.

Year to date, the ringgit has strengthened about 5% against the US dollar and 9% from the weak level of 4.46 to the dollar in September last year. It went below the psychological level of 4.0 to a dollar on Tuesday, hitting a seven-­month high.