Ringgit on strong recovery path

Meanwhile, Malayan Banking Bhd head of foreign exchange research Saktiandi Supaat is looking at the local currency strengthening against the greenback from RM4.18 in the fourth quarter of last year to RM4.10 at end-2022.

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KUALA LUMPUR: The ringgit is likely to see some recovery later this year on better economic prospects and fund inflows although volatility will come from policy tightening by the US Federal Reserve (Fed).

According to HSBC’s global head of foreign exchange research Paul Mackel, there are enough sources of growth to support the local currency in the coming months, including a wider “core” balance of payments.