Ringgit likely to continue uptrend against US dollar next week

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Kuala Lumpur: The ringgit is expected to continue its uptrend against the US dollar next week, supported by improving sentiment amid an encouraging domestic environment, said Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid.

He said the local note is likely to trend between 4.67 and 4.69 against the greenback next week following its significant rise in the previous week.“Sentiments on the ringgit are expected to improve, while the Bank Negara Malaysia’s opinion on the undervaluation of the ringgit also helped to give some direction on the ringgit movement,” he told Bernama.

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