tags - Sinar Daily

Photo for illustrative purpose only - FILE PIX

The ringgit will likely trade in a cautious mode next week with investors eyeing updates on the global economic performance.

Hong Leong Investment Bank Research said in its recent report that it expects the ringgit to have an overall depreciation trend in the second half with an average of USD-MYR 4.67 to reach a 2023 average of 4.56 and year-end target of 4.40.Hong Leong Investment Bank Research said in its recent report that it expects the ringgit to have an overall depreciation trend in the second half with an average of USD-MYR 4.67 to reach a 2023 average of 4.56 and year-end target of 4.40. Photo for illustrative purposes only - 123RF

BNM may sell US dollar forward to intervene as it did in the past

The most active gold contract for August delivery fell US$4.30, or 0.22 per cent, to close at US$1,917.90 per ounce. Photo for illustrative purposes only - 123RF

The move comes after Colombo cut subsidies, doubled taxes and promised to privatise hundreds of state enterprises under a $2.9 billion IMF bailout agreed in March.

Two indicators that have led to the prediction, which are the US Conference Board’s leading economic index and the shape of the yield curve in the US Treasury. - AFP PIX

Picture for illustrative purposes - FILE PIX by PDRM

Economy Minister Rafizi Ramli during a press conference on the consumer price index (CPI) for the month of May held at the ministry in Putrajaya. - Photo by Bernama

The ringgit extended its gains to open higher this morning, amidst positive developments in the Asian foreign exchange (forex) market.