Ringgit seen to trade higher next week
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The ringgit is expected to trade higher against the US dollar next week due to sustained demand; Bank Muamalat's chief economist Dr. Mohd Afzanizam Abdul Rashid predicts it may breach RM4.3030; US non-farm payrolls and Bank Negara Malaysia's Monetary Policy Committee Meeting are key economic data to watch; since the currency peg removal on July 21, 2005, the average level was RM3.7875, indicating potential appreciation; AmBank Group forecasts further strengthening of the ringgit due to healthy fundamentals and US Federal Reserve's interest rate cuts; ringgit strengthened to 4.3185/3225 against the US dollar from 4.3720/3775; it also gained against the euro, British pound, Japanese yen, and ASEAN currencies; net foreign buying in Malaysian equities reached RM2.53 billion year-to-date as of August 29, 2024.

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https://www.nst.com.my/business/economy/2024/09/1099966/ringgit-seen-trade-higher-next-week