KUALA LUMPUR: The ringgit opened higher against the US dollar on Thursday after the US Federal Open Market Committee opted to keep the Federal Funds Rate steady at 5.50 per cent, which further strengthens the local note.
"With this in mind, we are reiterating our forecast for the US dollar to ringgit exchange rate to reach RM4.50 by the end of the year,” he told Bernama. "A focal point of significance in this meeting lies in the Federal Reserve dot plot, illustrating the range of FFR projections among Fed members. Notably, the latest projections suggest a more cautious stance,” he added.
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