Stronger ringgit seen in 2020


The ringgit was traded at RM4.1070 per US dollar yesterday, well below the year-to-date peak of RM4.2203 on Sept 3.The ringgit was traded at RM4.1070 per US dollar yesterday, well below the year-to-date peak of RM4.2203 on Sept 3.

PETALING JAYA: The ringgit’s five-week rally against the US dollar recently has brought the exchange rate close to breaching the RM4.10-mark per US dollar.

However, the ringgit’s performance against the greenback is set to end 2019 on a rather flattish note. The good news is, with the new decade on the horizon, market pundits predict a better year for the Malaysian currency in 2020.

Despite the projected improvement, the psychological-mark of RM4 per US dollar may still be tough to achieve next year, with the “new normal” exchange rate likely to be closer to RM4.10.

Year-to-date until Dec 30, the ringgit has marginally appreciated against the greenback by 0.65%, in comparison to the disappointing 2.84% decline in 2018.

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