KUALA LUMPUR – The ringgit strengthened its position against the United States dollar in the early session today, riding on a weakening greenback as US Treasury yields ease below 1.6%.
At 9am, the local currency rose to 4.1020/1070 against the dollar from Friday’s close of 4.1080/1130.
Due to the strong economic ties between Malaysia and China, said an analyst, the local note is also supported by Beijing’s positive economic data, with strong exports and rising business confidence.
It was reported that China’s economy continues to boom this month from a record growth in the first quarter. – Bernama, April 26, 2021
