Ringgit Breaks 4.50 Barrier, Records 10-Day Winning Streak
In a significant milestone, the Ringgit has broken the 4.50 barrier against the US dollar, achieving a 10-day winning streak. According to Bloomberg, the Ringgit opened at 4.5685 against the USD on Friday and quickly turned positive, reaching 4.4880. By 6 PM, the Ringgit stood at 4.4945, the highest level since May 2023. The Ringgit also gained against the Singapore dollar, reaching 3.3724. Experts credit the Ringgit’s strength to expectations of a Fed rate cut and positive sentiment towards Malaysia’s economy. Despite potential short-term corrections, the Ringgit’s long-term appreciation potential remains robust.
