Ringgit Breaks 4.50 Mark, Extends 10-Day Winning Streak

The Ringgit continued its upward momentum, breaking the 4.50 mark against the US dollar and 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 attribute 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.