Ringgit hits 28-month high of 4.2025 against USD
Publish date: Thu, 19 Sep 2024, 06:29 PM
KUALA LUMPUR: The ringgit has continued to strengthen against the US dollar, hitting a 28-month high versus the greenback after the United States Federal Reserve (Fed) kept to its words and delivered a 50-basis points interest rate cut last night, an analyst said.
At 6 pm, the local note surged to 4.2025/2105 versus the greenback from Wednesday's close of 4.2410/2460, retaining its position as one of the top performing currencies in the Asian region.
- Bernama
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strong ringgit no point lah when price of goods & services in malaysia never get cheaper!
1 month ago
Those export oriented industries will have a very bad quarter because receivables and sales in USD but cost in MYR.
Need some time to pass down the cost increase to customers if customers agree to cost increase or customers could buy from other cheaper cost countries.
1 month ago
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Our strong Ringgit will benefit stocks dealing with import business like Bauto ?
1 month ago