Ringgit likely to hit 4.20-4.40 against US dollar by year-end

KUALA LUMPUR: The ringgit is expected to hit 4.20-4.40 against the US dollar by year-end in view of the United States (US) Federal Reserve’s (Fed) likely interest rate cut decision in anticipation of an economic recession in the US this year, said Capital Dynamics Asset Management Sdn Bhd managing director Tan Teng Boo.

He said the interest rate decision would have a positive impact on the ringgit and other currencies, such as the Thai baht and the Indonesian rupiah, as well as on currencies of the developed countries, namely the Japanese yen.