Ringgit continues to strengthen against dollar | The Malaysian Insight

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Ringgit continues to strengthen against dollar | The Malaysian Insight
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Ringgit continues to strengthen against dollar

The ringgit rises to 4.3880/3915 versus the US dollar from yesterday’s closing of 4.3995/4025. – The Malaysian Insight file pic, April 14, 2023.

The US dollar index, which measures the greenback against six major peers, fell by 0.47% to 101.01 points as the PPI for March dropped to 2.7% from 4.6% in February. “Major currencies such as euro, sterling and yen also rose against the greenback, and the ringgit could also gain some ground versus the US dollar today.”

“CPI measures inflation in the US, and a lower-than-expected reading shows that the Fed’s inflation control measures are having the desired effect, which is to cool down the economy.

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