KUALA LUMPUR (Oct 1): The ringgit is likely to trend higher next week, trading at between 4.59 and 4.62 against the US dollar, on improved market sentiments, an analyst said. “However, ringgit volatility is much lower in comparison to other currencies in the region. [In terms of] currency volatility, the ringgit stood at 6.7%, [followed by the] Singapore dollar (7.2%), Indonesia rupiah (10.1%) and Thai baht (10.3%),” he told Bernama. Mohd Sedek also said historical data showed that the ringgit tended to close lower during the budget week. The ringgit also weakened versus the pound to 5.1728/1762 against 5.0957/0985 last week, and fell against the euro to 4.5428/5458 from 4.4686/4710 a week earlier.

Source: The Edge Markets October 01, 2022 15:12 UTC