Rosela Ismailby FARAH ADILLAKUALA LUMPUR: The ringgit is expected to strengthen to 3.80 against the US dollar by year-end, supported by Malaysia’s strong economic fundamentals and the effective regulation of the of the onshore foreign exchange market. “As such we maintain our projection for USD/MYR to strengthen further to 3.88 by mid-year and 3.80 by year-end,” she told reporters at UOB Malaysia’s ringgit and economic outlook briefing here today. Goh said UOB Malaysia’s positive outlook for the ringgit is driven by the country’s robust economic growth and still favourable global growth conditions. “We expect the ringgit to benefit from Malaysia’s steady flow of private sector investment and higher private consumer consumption levels. “Improvements in the labour market, higher nominal income from previous years, and rising affluence among Malaysians have helped strengthen private consumption levels in Malaysia.

Source: New Strait Times March 26, 2018 05:37 UTC