KUALA LUMPUR: The ringgit extended its bullish momentum from last week to close higher against the US dollar today amid a weakened US Dollar Index (DXY), an analyst said.

According to Bloomberg, the ringgit rose the most in nine years amid optimism surrounding Malaysia's economy, rising by 1.57 per cent against the greenback by the close of trading.

At 6 pm, the ringgit climbed to 4.4240/4305 versus the greenback from Friday's close of 4.4945/4995.

The local currency hit its intraday high of 4.3945 at 11.46 am and opened at an intraday low of 4.4970.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit continued to gain versus the US dollar and broke through its immediate support at 4.4005 in the early session, but retreated in the afternoon session.  

https://www.nst.com.my/business/economy/2024/08/1087149/ringgit-rally-continues-rises-442-against-us-dollar-close