KUALA LUMPUR: The ringgit is expected to remain volatile in the near term alongside other emerging market currencies.

       Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the United States dollar has become highly favourable as their rates of return would be far more attractive by the end of the year.

       “At the moment, the support level for the local note against the greenback stands at RM4.3420 and the resistant level is located at RM4.4490,” he told Bernama.

       Mohd Afzanizam also said the dollar-ringgit would gyrate within this trading band next week and all eyes will be on Bank Negara’s Monetary Policy Committee meeting tomorrow and Wednesday.