MIER predicts USD/MYR at 4.20-4.25 by year-end

KUALA LUMPUR: The Malaysian Institute of Economic Research (MIER) forecasts that the ringgit could strengthen to between 4.20 and 4.25 against the US dollar by the end of 2024, up from 4.59 at the close of 2023.

However, MIER cautioned that the persistent strength of the US dollar might keep the ringgit's average exchange rate around 4.60-4.64, slightly above the 2023 average of 4.56.