AmBank Group forecasts ringgit to appreciate further to RM4.5 by year-end

KUALA LUMPUR: AmBank Economic Research is forecasting the ringgit to appreciate further to around RM4.5 by the year-end against the US dollar due to a combination of factors, including the potential narrowing interest rate differentials between the currencies which is more beneficial to the local unit.

"Nevertheless, actual USD/MYR has moved below these levels (last week at 4.685). Again, we repeat that our model already suggests that the current fair value of USD/MYR is about 4.50/60,” it said in a research note today.