Room for firmer ringgit

KUALA LUMPUR: There is room for the ringgit to strengthen against the greenback by end-2022 due to domestic economic recovery and strong prices of commodities’ exports, although further ringgit depreciation is expected in the short term, according to foreign exchange specialists and economists.

CIMB Group Holdings Bhd group head of treasury and markets Chu Kok Wei said the group’s house view is RM4.20 against the US dollar, for end-2022.