Ringgit stays at two-month high versus greenback on expectation of slower US interest rate hike

KUALA LUMPUR: The ringgit held steady and climbed to an over two-month high against the greenback on continued optimism that the US will slow down interest rate hikes going forward amid a smooth government transition in Malaysia.

At 6 pm, the local note further strengthened to 4.4795/4890 against the US dollar from Thursday’s close of 4.4910/5000.

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Ringgit , US dollar , Stephen Innes , Fed Minutes , Anwar Ibrahim , China reopening

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