The ringgit is expected to hover between RM4.43 and RM4.45 against the US dollar as it tracks th US interest rate next week. – The Malaysian Insight file pic, April 22, 2023.
He said the market will continue to focus on the US interest rate, which will dominate foreign exchange markets.Week-on-week, the ringgit traded lower against the US dollar at 4.4350/4395 against last Friday’s close of 4.4000/4025. The impact on the ringgit was cushioned by China’s economic data, which showed its gross domestic product for the first quarter of 2023 grew more than expected – by 4.5% compared with 2022’s 2.9% against consensus estimates of 4%.The local note traded mostly lower against a basket of major currencies compared with last week.
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