Ringgit strengthens against US dollar, rally expected until year-end

KUALA LUMPUR: The ringgit rose against the US dollar on Wednesday, reinforcing expectations that it will hit 4.50 versus the greenback by year-end, according to Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid.

At 6 pm, the ringgit firmed to 4.6625/6660 against the US dollar from yesterday’s closing of 4.6745/6790.