KUALA LUMPUR: The ringgit is expected to strengthen to the RM4.25 level against the US dollar by the end of the year amid Malaysia’s strong economic fundamentals. "The market is also seeing positive foreign appetite into our equities market with foreign direct investments (FDIs) picking up. This could support our ringgit going forward,” he said during a webinar on Malaysia’s market outlook for H2 2022 today. Dass also shared that Bank Negara Malaysia has enough buffer to support the ringgit and had used only about US$8.6 billion to stabilise the ringgit. "The positive economic data showed that there is a bit of this disassociation between politics and the opportunity to do business,” he said.

Source: The Star June 03, 2022 08:54 UTC