KUALA LUMPUR: The ringgit finished higher against the greenback on Wednesday ahead of the release later tonight of the US Consumer Price Index (CPI) report for July, which is expected to provide further clues on the direction of interest rates in the US.
At 6pm, the ringgit rose to 4.0835/4.0875 versus the US dollar from yesterday’s close of 4.0905/4.0940.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid noted that the ringgit was well supported against the US dollar today, while other Asian currencies were generally mixed against the greenback.
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