KUALA LUMPUR: The ringgit closed flat against the greenback today, dampened by external factors as markets await the US debt ceiling vote by the US Congress tomorrow.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit is still generally weak, with the greenback going to as high as RM4.6173 before settling towards RM4.6100. From the technical standpoint, he noted that the local currency is in an oversold condition, suggesting that further downside risks for the ringgit are limited.
Source: Loan Digest (loandigest.net)
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