Ringgit Edges Down Versus Greenback Amid Fed Rate Hike Expectations
The Malaysian ringgit gained against major currencies on Wednesday, but its value decreased relative to the US dollar due to expectations of further interest rate hikes by the Federal Reserve in the United States.
At 6 pm local time, the ringgit's exchange rate dropped slightly to 4.0780/0825 against the greenback from Tuesday's close of 4.0730/0775.