Ringgit extends gains against greenback at opening
Local forex vendors price in a strong ringgit on the expected return of Chinese travellers and continued improvement in international travel. – The Malaysian Insight file pic, January 26, 2023.
At 9am, the local note further appreciated to 4.2510/2600 against the US dollar from yesterday’s closing of 4.2575/2625. “On another note, the China market continues to lead the horse race, and this is supporting regional risk markets. ActivTrades trader Dyogenes Rodrigues Diniz said Malaysia has been showing solid numbers with the unemployment rate at 3.6% and inflation under control at 3.8%, which supports the outlook for the local market as a good destination for foreign investment.
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