Maybank IB sees ringgit rising to 4.60 against US$ by year-end

KUALA LUMPUR: The ringgit is expected to end firmer at 4.60 against the US dollar by the end of this year, said Maybank Investment Bank Bhd (Maybank IB).

Its group chief economist, Suhaimi Ilias said the forecast of a stronger ringgit follows the US Federal Reserve’s (Fed) interest rate cut expectation and Bank Negara Malaysia’s (BNM) decision to maintain the overnight policy rate (OPR) at 3.00 per cent.