Uncertain times for local currency

The ringgit touched its weakest point on March 20, when it hit its six-year low of RM3.735. But the currency strengthens to its highest level in three months to RM3.5462 on Wednesday.

THE recent volatility in the ringgit has been unnerving and has added to concerns about a negative view of the local currency. But is this volatility here to stay and what’s the general outlook of the ringgit versus, say, the US dollar?

At the recent US Federal Reserve (Fed) meeting, it has been decided to keep its target interest rate at a record low. This new development has brought a new light to the ringgit, which rose slightly to RM3.53 a dollar on Thursday.