Kenanga maintains year-end ringgit forecast at 4.15 to US dollar

The Overnight Policy Rate (OPR) will be maintained at 3.25%, Bank Negara Malaysia announced at its Monetary Policy Committee (MPC) meeting on Thursday.

KUALA LUMPUR: Kenanga Investment Bank Bhd is maintaining its year-end ringgit target against the US dollar at 4.15, while continuing to test the 4.20 level in the near-term.

The research house said in a note that the Federal Reserve (Fed) on Wednesday, in deciding to hike its short-term rate by 25 basis points, would cast a pall on a strong US dollar in 2019.