Ringgit hits year’s high against Singdollar; further gains likely but greenback direction is key
Unit fuelled by strong investment inflows into Malaysia and encouraging follow-through on fiscal policies
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[SINGAPORE] The Malaysian ringgit is on a roll this year.
It has gained about 7 per cent against the US dollar. It broke a 13-month high last week, and has outperformed all other Asian currencies this year.
The currency breached 4.16 against the greenback on Tuesday (Nov 11), hitting 4.159 as at 8.59 am, in a continuation of the strong rally it has had since last week.
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