KUALA LUMPUR: The ringgit continued to perform favourably against the US dollar at the close yesterday, as the greenback weakened on dovish remarks by US Federal Reserve officials.
At 6pm, the ringgit advanced to 4.1300/1345 against the US dollar, up from Monday’s close of 4.1370/1420.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said US rate cut expectations have gained momentum ahead of the next Federal Open Market Committee meeting on Dec 9-10. — Bernama
