KUALA LUMPUR: The ringgit is poised to strengthen this year, driven by significant events which could bolster the local currency.
"Successive steps towards fuel subsidy rationalisation could boost confidence in the ringgit,” he told Bernama. He said the ringgit may flip if the Fed cuts rates and yields start falling as rates differentials could be a significant driver for the ringgit versus greenback. In comparison, he said the Indonesian rupiah, Korean won, Japanese yen, Taiwanese dollar, Philippine peso, Thai baht and Singapore dollar have fared worse than the ringgit versus the US dollar, depreciating at 2.9 per cent, 2.8 per cent, 2.2 per cent, 2.1 per cent, 2.0 per cent, 1.80 per cent and 0.9 per cent respectively.
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