The Malaysian ringgit briefly touched 3.9992 against the US dollar, its strongest level since June 2018, amid positive economic forecasts.
KUALA LUMPUR: The ringgit briefly touched the psychological level of 3.99 against the US dollar today.
The local currency strengthened to 3.9992 versus the greenback at 2.27 pm, marking its strongest level in more than seven years.
It was last seen at this level on June 18, 2018, trading at 3.9960/9990.
Economists had earlier predicted the ringgit would trade within a range in the first half of 2026.
They forecast it would then strengthen towards 3.94 against the US dollar in the latter half of the year, supported by Malaysia’s positive economic outlook.
Analysts noted that anticipated United States Federal Reserve rate cuts, along with other US-centric issues, were likely to further weaken the greenback. – Bernama