Ringgit

Ringgit Ends Mostly Higher Against Major Currencies, But Weakens vs US Dollar

KUALA LUMPUR, Sept 17 (Bernama) -- The ringgit ended mostly higher against major currencies on Thursday, but weakened against the greenback, as investors digested the US Federal Reserve's (Fed) latest interest rate decision, an analyst said.

At 6 pm, the local currency fell to 4.0965/1010 against the greenback from Tuesday’s close of 4.0835/0880.

The market was closed on Wednesday for a public holiday.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the Fed is unlikely to be done with its 25-basis-point rate hike yesterday, with further increases potentially on the horizon as the US central bank remains committed to bringing inflation back to its two per cent target.

--BERNAMA