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Ringgit overcomes slow start in 2024 as inflows rise
June 01, 2024
|The Straits Times
The Malaysian ringgit has raced ahead of all its Asian peers in the past three months and, if market watchers are right, the move is set to gain traction.
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The currency - which has climbed nearly 1 per cent since the end of February is expected to rise to 4.65 per US dollar by the year end from 4.705 now, according to strategists surveyed by Bloomberg. Rising foreign inflows and income repatriation by state firms are fuelling the optimism.
The ringgit, meanwhile, was trading at 3.4838 to the Singapore dollar as at 8.57am on May 31. This makes it down about 0.2 per cent in the year to date to the Singdollar.
هذه القصة من طبعة June 01, 2024 من The Straits Times.
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