Ringgit Expected to be Strong Until the End of 2023?

<p>&nbsp;After the US inflation data yesterday, the Malaysian Ringgit (RM) was seen to strengthen for a moment by rising to 4.6573 against the US Dollar. This morning, it was seen again to experience a decline to 4.6950.</p><p><br /></p><p>However, this is a sign that the value of the ringgit will continue to strengthen against other Asian currencies. According to Reuters data, the Indonesian ringgit and rupiah have strengthened at the regional level.</p><p><br /></p><p>The Ringgit rose to 4.663 and the Rupiah rose to 15475.000 against the US Dollar based on the last trading value.</p><p><br /></p><p><br /></p><p>Meanwhile, the Singapore dollar experienced a slight decline with a difference of 0.04 to 1.349 and the Thai Baht fell by 0.02 to 35.498.</p><p><br /></p><p>According to Mohd Afzanizam, Bank Muamalat's Head of Economics and Social Finance, said the US inflation data published last Tuesday at 3.2% was lower than the last two months which had increased by 3.7%.</p><p><br /></p><p>He explained further, it described the drop in inflation as a sign that the Fed has fulfilled its mandate to lower inflation following the current interest rate that has approached its peak.</p><p><br /></p><p>Following that, the ringgit is expected to record an upward trend following the decline of the US Dollar.</p>