Ringgit strengthens to 4.2930 against greenback as rate cut nears
Publish date: Tue, 17 Sep 2024, 08:39 AM
KUALA LUMPUR: The ringgit extended last Friday's gains, trading firmer against the US dollar and breaching the RM4.30 level at Tuesday's opening, driven by persistent buying interest amid expectations of a US interest rate cut, analysts said.
At 8.05 am, the local currency appreciated further to 4.2930/3030 against the greenback, compared to Friday's close of 4.2975/3050.
The market was closed on Monday, Sept 16, in observance of both Prophet Muhammad's birthday and the Malaysia Day public holiday.
- Bernama
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