Currencies
Ringgit Erases Losses for 2024 as State Firms Asked to Support
- Ringgit rose for eighth straight day, best run since Nov. 2019
- Currency to regain ground as yield differential improves: OCBC
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The Malaysian ringgit erased losses for the year, bolstered by stronger growth and expectations of an impending interest rate cut by the Federal Reserve.
The local currency rose 0.6% to 4.5922 against the dollar late Wednesday. The ringgit gained for an eighth day, set for its best run since November 2019.