Ringgit stages sharp rebound against dollar
The ringgit has rebounded sharply versus the greenback as US debt ceiling negotiations make headway, with the local currency strengthening against other major and regional currencies. – The Malaysian Insight file pic, May 26, 2023.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit regained some ground today, hovering at the RM4.6082 level. Mohd Afzanizam said in light of the ongoing US debt drama and the effect of past interest rate hikes, the global economic outlook in the second half of this year is expected to be challenging.
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