Ringgit closes at 3.96 vs US dollar for first time since 2018

The ringgit spiralled to breach the 4.00 psychological level at the close today against the US dollar, as the currency extended its uptrend that began last week, reflecting improving sentiment toward the country’s economic fundamentals and policy stability.

At 6pm, it was quoted at 3.9615/9670, slightly over one percent higher than the greenback from 4.0045/0080 at last Friday’s close. It was last seen at this level in May 2018.