On Thursday, the local currency was traded at 4.1465 for one US dollar, up from a low of 4.45 in mid-March. One reason is the steady inflow of foreign funds into the local bond market, spurred by the high-yielding appeal of Malaysian bonds amid Bank Negara overnight policy rate cut to a record low of 1.75%.
Ringgit rising
THE ringgit exchange rate against the US dollar strengthened to its highest level since February this year, boosted by improving local economic data and the greenback weakness.
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