Ringgit soars 1.8% as new PM sworn in

KUALA LUMPUR: The ringgit climbed 1.8 per cent to its highest in over two months versus the US dollar on Thursday with the appointment of Datuk Seri Anwar Ibrahim as Malaysia’s 10th Prime Minister, thus easing the political uncertainty and the weak US dollar following the Federal Open Market Committee’s (FOMC) minutes.

At 6 pm, the local note gained 815 percentage points to 4.4910/5000 against the greenback from Wednesday’s close of 4.5725/5775