Ringgit extends gains against greenback

The ringgit continued its positive momentum this morning, rising by 0.38 percent against the US dollar at the opening today, reflecting the positive sentiments following the clarity in Malaysia’s political tussle and the United States Federal Reserve’s signal of a downshift in rate hikes.

At 9am, the local note further strengthened to 4.4760/4810 against the greenback from Thursday’s close of 4.4910/5000.