MIDF Research expects ringgit to continue rising, hitting 4.00 mark by year-end

KUALA LUMPUR, March 31 — MIDF Research expects the appreciating ringgit trend to continue and average stronger at RM4.20 and end the year at around RM4.00 against the US dollar,...

KUALA LUMPUR, March 31 — MIDF Research expects the appreciating ringgit trend to continue and average stronger at RM4.20 and end the year at around RM4.00 against the US dollar, supported by the upbeat domestic economy.

“Between early November 2022 and late January 2023, ringgit appreciated by 11.9 per cent from nearly RM4.75 to RM4.24, the strongest level since April 2022,” it said in a note today. This brought back the weak dollar narrative and supported the ringgit and other currencies to appreciate.

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