Ringgit ends stronger against US dollar in 4Q22

The ringgit ended the fourth quarter of 2022 (4Q2022) stronger by 5.3 percent against the US dollar, buoyed by the encouraging global developments and greater domestic political certainty with the formation of the new government in November, says Bank Negara Malaysia.

In a statement today, the central bank said the local note's performance was also in line with other regional currencies, as market expectations for smaller interest rate increases by the United States (US) Federal Reserve amid indications of slowing inflation in the US eased interest in the greenback.

“Global investor sentiments on the ringgit and regional currencies have also been somewhat lifted by the reopening of China’s economy...