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Ringgit closes stronger against US dollar on market optimism

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Forex Nyheter

Ringgit,US Dollar,ASEAN

PUTRAJAYA: Graft investigators have searched the house of FashionValet founders Datin Vivy Yusof and Datuk Fadzaruddin Shah Anuar and frozen several of their accounts with RM1.1mil in funds.

KUALA LUMPUR: The ringgit closed stronger against the US dollar today, driven by broad market optimism.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Federal Reserve’s decision to cut the Fed Funds Rate by 25 basis points played a crucial role in fostering confidence that the Fed is committed to easing its monetary policy."Such a notion was reinforced by the Bank Negara Malaysia’s Monetary Policy Committee decision yesterday to keep the OPR steady at 3.

 

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