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Ringgit Hits 18-month High Amid U.S. Recession Fears

Business Today ·  Aug 19 21:43

The ringgit continued its upward momentum against the US dollar, reaching a new 18-month high this morning, driven by investor optimism over anticipated interest rate cuts by the US Federal Reserve, according to an analyst.

As of 8 a.m., the ringgit strengthened to 4.3700/3850 against the greenback, up from 4.3805/3850 at yesterday's close.

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