KUALA LUMPUR: The ringgit surged to the 4.08 level against the US dollar at Tuesday’s opening, marking its strongest performance in nearly five years, as improved confidence in the Malaysian economy boosted demand for the local currency.
At 8 am, the ringgit strengthened to 4.0890/4.0970 versus the greenback from 4.0930/4.0980 at yesterday’s close. The level was last seen on April 30, 2021, when the ringgit closed at 4.0870 against the US dollar.