The ringgit was trading below the 4.20 threshold against the US dollar in five months, supported by rising oil prices and favourable Malaysia Government Securities, as well as Malaysian Islamic Treasury Bills’ yield divergence, economists said. Overall, the local currency has appreciated 4.71% in the last 133 days.
KUALA LUMPUR: The ringgit has shown resilience in these tempestuous times as global economy struggles to come to terms with Covid-19 and the pressure of economic volatility.
The ringgit was trading below the 4.20 threshold against the US dollar in five months, supported by rising oil prices and favourable Malaysia Government Securities, as well as Malaysian Islamic Treasury Bills’ yield divergence, economists said.
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