KUALA LUMPUR: The ringgit strengthened to 3.9170 against the US dollar at Wednesday’s lunch break, extending gains from earlier sessions on renewed market confidence.
This level, last seen on Apr 27, 2018, highlights the robustness of the local currency’s recent rally.
Earlier, an economist noted the new support level for the ringgit at RM3.8722, signalling the persistence of the positive trend.
The currency’s gains are largely driven by financial reforms, structural adjustments, and policy recalibration, which have fostered growth, bolstered confidence, and attracted capital inflows.
At the 8 am opening, the ringgit traded at 3.9485/9500 against the US dollar, strengthening from Tuesday’s close of 3.9500/9555. - Reuters
