Edited by maklukpenggoda at 15-9-2024 11:59 AM
The local currency traded mostly higher against other major currencies.
KUALA LUMPUR, Sept 14 — The ringgit is expected to continue its uptrend next week, trading at 4.28 to 4.29 against the US dollar, ahead of the United States (US) Federal Open Market Committee (FOMC) meeting from Tuesday (September 17) to Wednesday (September 18).
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said that with the US Federal Reserve (US Fed) on track to cut the interest rate next week, the ringgit could stage further appreciation during the holiday-shortened week.
“This is especially true when the Bank Negara Malaysia is not about to follow similar footsteps by the Fed as the upside risks to domestic inflation are still visible,” he told Bernama.
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