Ringgit higher versus US dollar as local exporters cut greenback holdings

KUALA LUMPUR: The ringgit maintained its strength against the US dollar after lower US inflation data led to expectations that the US Federal Reserve (Fed) would scale back a 25-basis point interest rate hike, prompting Malaysian exporters to reduce greenback holdings.

At 6 pm, the ringgit appreciated to 4.3150/3200 against the greenback from last Friday’s close of 4.3325/3375.