Ringgit closes higher against dollar
The ringgit has closed higher against the greenback, driven by a softer US dollar and a bearish outlook for the currency. – The Malaysian Insight file pic, July 31, 2023.
At 6pm, the local note strengthened to 4.5050/5090 against the US dollar compared with 4.5535/5565 at Friday’s close. He said data released last week implied that the annual US inflation rate rose at its slowest pace in more than two years in June, and with the underlying price pressure receding, it eased the pressure on the Federal Open Market Committee to continue raising rates.
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