Ringgit likely to be in tight range against the greenback next week

A moneychanger worker showing the ringgit and US dollar notes in Kuala Lumpur. -MUHAMAD SHAHRIL ROSLI/The Star.

KUALA LUMPUR, Oct 24 (Bernama): The ringgit is expected to trade in a tight range against the US dollar next week, given that the currency pair is nearing the overbought condition, an analyst said.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said forex markets would also be watching the impending announcement of Budget 2022 on Oct 29 to decide on their next move.