KUALA LUMPUR: The ringgit closed higher against the US dollar on Friday, driven by bargain-hunting activity despite expectations of further US interest rate hikes.
At 6 pm, the ringgit increased to 4.0715/0765 versus the greenback from Thursday’s close of 4.0840/0880.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit strengthened to RM4.0673 against the US dollar early in the morning before giving up some of its gains to trade at RM4.0743 in the afternoon. - Bernama
