KUALA LUMPUR – The ringgit opened stronger at 4.1000/1100 against the US dollar on Friday, its best level since April 28, 2021. The local currency extended gains after the US data showed a softening labour market and the Federal Reserve delivered an expected 25-basis-point rate cut.
Ringgit Hits Strongest Level
The US Dollar Index dropped 0.44 per cent to 98.348. Traders expect the ringgit to hover near the key 4.10 psychological level today. Against major currencies, it weakened versus the pound (5.4911/5045), euro (4.8138/8256) and yen (2.6368/6434). Performance was mixed against ASEAN peers.
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