Ringgit performance likely to be encouraging next week

At 9 am(0100gmt), the local unit stood at 4.2815/2845 against the greenback from 4.2760/2790 on Monday. (Filepic)

KUALA LUMPUR: The ringgit's performance is likely be encouraging with an upside bias against the US dollar next week as Bank Negara Malaysia reaffirms the local note's steadiness, said RHB Research.

In a note Saturday, RHB Research said, the central bank has indicated that the ringgit has stabilised following its implementation of foreign exchange measures, including the requirement for exporters to convert 75 per cent of their export proceeds into ringgit.