THE ringgit, now free from its fixed exchange rate regime, will have an unrelenting pressure to strengthen against the US dollar for the remaining part of this year, said a Hong Kong-based regional foreign exchange strategist.
Richard Yetsenga of Hong Kong and Shanghai Banking Corp Ltd (HSBC) said: In the near term, the ringgit against the US dollar will be heading towards 3.70, and it will end up steeper if the US dollar weakens further against other major currencies.
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