KUALA LUMPUR: The ringgit strengthened to a 14-month high against the US dollar today.
At 6pm, the local unit ended at 4.1100/1130 against the greenback from 4.1380/1420 on Tuesday.
A dealer said the ringgit remained buoyant on the back of expectations Bank Negara Malaysia will increase the overnight policy rate, following the country’s strong 6.2 per cent economic growth recorded in the third quarter of this year.
The ringgit was also traded higher against a basket of major currencies.
It rose against the Singapore dollar to 3.0393/0417 from 3.0525/0568 yesterday, and strengthened against the euro to 4.8317/8357 from 4.8526/8586 on Tuesday.
It increased against the British pound to 5.4453/4505 from 5.4779/4836 on Tuesday, and improved vis-a-vis the yen to 3.6667/6697 from 3.6805/6844 yesterday. – BERNAMA