Ringgit likely to strengthen to 3.8 to US$1 by year-end

Riskier currencies were trading on a poor footing, given the firmer dollar and negative global equity sentiment.

KUALA LUMPUR: The ringgit, which has been on the downtrend against the greenback lately as a result of solid US economic growth, is expected to stabilise and become stronger by year-end.

Affin Hwang Capital chief economist Alan Tan said the ringgit was expected to appreciate to RM3.80 against the US dollar given the country’s strong economic fundamentals and trading activities.