Ringgit could face weakness before picking up

Manokaran Mottain: The ringgit used to track oil very closely, but in recent weeks, this has no longer been the case.

PETALING JAYA: In the face of weakening oil prices, the ringgit could face some weakness in the short term before picking up to the RM4.30 to RM4.35 level against the greenback by year end.

This strengthening will be buoyed by a combination of inflows into the bond market and Malaysia’s ability to stick to the fiscal deficit figure of 4.5%, say analysts and economists.