Ringgit seen to trade between 4.16-4.22 against US$ next week

AxiCorp chief market strategist Stephen Innes opined that the ringgit is likely to hover between 4.18 and 4.22 next week, as the delay of work resumption in China due to COVID-19 could hit the tourism and export industries in Malaysia.

KUALA LUMPUR: When all eyes will be on the economic stimulus package to be announced on Thursday, the ringgit is expected to trade between 4.16 and 4.22 against the US dollar next week, weighed down by the delay of work resumption in China.

Prime Minister Tun Dr Mahathir Mohamad will announce an economic stimulus package on Feb 27,2020 to mitigate the adverse external economic impacts of the COVID-19 outbreak.