Ringgit stregthens against greenback on positive sentiment

The ringgit extended gains, opening stronger against the US dollar on Tuesday, supported by ongoing positive sentiment towards the local currency, said an analyst.

At 8 am, the ringgit rose to 4.1835/2035 against the greenback, compared to Monday's close of 4.1990/2035.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said there appears to be speculation that potential trade deals would be achieved as the US tariff shocks are likely to severely dent the US economic growth.

"On that note, we shall expect the ringgit to remain strong against the US dollar today," he told Bernama.

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