Ringgit Strengthens 225 Basis Points Against U.S. Dollar On Mixed US Economic Data, Possibility Of Fed Rate Cut

Closeup of Malaysia Ringgit currency notes and coins

The ringgit gained 225 basis points and strengthened against the US dollar subsequent to the United States’ release of mixed economic data and investors’ anticipation of an interest rate cut based on the Federal Open Market Committee (FOMC) meeting earlier this week.

At 9 am, the ringgit opened at 4.7310/7380 against the greenback from Thursday’s close of 4.7535/7555.

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