Ringgit likely to advance to 3.95-level against US dollar next week - News Summed Up

Ringgit likely to advance to 3.95-level against US dollar next week


KUALA LUMPUR: The ringgit is likely to advance to the 3.95 level against the US dollar next week, prompted by the robust trade data released recently on the back of firmer crude oil prices and the weakness in the greenback. “This is sending a robust signal for Bank Negara Malaysia to up interest rate in January,” he told Bernama. “The RM3.95-RM4 vis-a-vis the greenback is my expected range for next week with a stronger ringgit bias. On a Friday-to-Friday basis, the ringgit was stronger against the US dollar at 3.9700/9730 from 3.9950/9000 the previous week. It climbed against the Singapore dollar to 2.9895/9924 from 3.0081/0123 the previous week and appreciated vis-a-vis the pound to 5.4040/4084 from 5.4048/4132 last week.


Source: New Strait Times January 13, 2018 03:33 UTC


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