Ringgit soars 1.8pct as new PM sworn in

The ringgit climbed 1.8 percent to its highest in over two months versus the US dollar today with the appointment of Anwar Ibrahim as Malaysia’s 10th prime minister, thus easing the political uncertainty and the weak US dollar following the Federal Open Market Committee’s (FOMC) minutes.

At 6pm, the local note gained 815 percentage points to 4.4910/5000 against the greenback from yesterday’s close of 4.5725/5775.

SPI Asset Management managing director Stephen Innes said...