Ringgit to trade in tight range of 4.72-4.73 versus US dollar next week

KUALA LUMPUR, April 6 — The ringgit is expected to trade in a tight range of RM4.72 to RM4.73 against the US dollar in the upcoming holiday-shortened week of trading, said an...

On a Friday-to-Friday basis, the ringgit weakened to 4.7460/7490 versus the greenback compared with 4.7215/7280 a week earlier. — Picture by Sayuti ZainudinKUALA LUMPUR, April 6 — The ringgit is expected to trade in a tight range of RM4.72 to RM4.73 against the US dollar in the upcoming holiday-shortened week of trading, said an economist.

He said the foreign exchange market is on defensive mode with demand for safe haven currencies such as the US dollar becoming elevated. The US Dollar Index rose 0.17 per cent to 104.30 points on Friday.

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