KUALA LUMPUR: There is room for the ringgit to improve further from the current level, given the country’s strong underlying fundamentals including stable global crude oil prices, stronger gross domestic product and better export growth, said Deputy Finance Minister I Datuk Wira Othman Aziz.
He was confident that the ringgit would break the psychological level of 4.0, going into the first quarter of 2018.
On the foreign exchange market today, the ringgit was traded at 4.0740 against the US dollar, marginally higher from yesterday’s close of 4.0750.
“The ringgit is strengthening each day. The fair value should be better and hopefully towards the year-end and in the first quarter of 2018, we can see the local note performing better.
“However, external factors will also influence the ringgit’s movement. If everything remains constant, for example US interest rates, we should see a stronger ringgit, going forward,” he told reporters on the sidelines of the third Annual Symposium on Islamic Finance here today. - Bernama
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
