The ringgit soared against the US dollar in early trade on Thursday on renewed demand for the local note.
At 9am, the ringgit was traded at 4.1060/1159 against the US dollar from 4.1770/1860 at 5 pm on Tuesday.
There was no trading yesterday with the market closed for the Awal Muharram holiday.
A dealer said the ringgit seems to have completed its consolidation phase after the recent rally and was ready to test psychological level of 4.0 soon.
"Current sentiment is still positive for the ringgit and the new demand came as some foreign funds start re-enter Bursa Malaysia," he added.
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At 9am, the ringgit was traded at 4.1060/1159 against the US dollar from 4.1770/1860 at 5 pm on Tuesday.
There was no trading yesterday with the market closed for the Awal Muharram holiday.
A dealer said the ringgit seems to have completed its consolidation phase after the recent rally and was ready to test psychological level of 4.0 soon.
"Current sentiment is still positive for the ringgit and the new demand came as some foreign funds start re-enter Bursa Malaysia," he added.
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