At 9 am(0100gmt), the local note stood at 3.8950/9030 against the US dollar from 3.9110/9180 on Wednesday.
PETALING JAYA: The ringgit strengthened to its highest level in three months to RM3.5462 at 8am yesterday, after more disappointing US economic data reinforced expectations that the US Federal Reserve (Fed) will not hike interest rates anytime soon. The recovery of oil prices was another promoting factor boosting the ringgit, as higher oil prices will ease the deficit pressures on the country.
The ringgit touched its weakest point on March 20, when it hit the RM3.7333 level. At its last price of 3.5635, the ringgit was still down by 1.92% from the 3.4965 level on a year-to-date basis. This is still one of its weakest levels in five years.
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