GEORGE TOWN: A massive forex investment scam that has allegedly defrauded 388 victims across multiple countries of RM104.75mil since 2016 has prompted calls for swift action. The scam, allegedly orchestrated by individuals claiming to be Russian financial experts, promised high annual returns of 20-30%. The victims, ranging from professionals to retirees, claimed that after payments ceased in...
KUALA LUMPUR: The ringgit was slightly higher in early trade Monday as the US dollar trended up modestly after the release of mixed US labour data for November. At 8.15 am, the local currency advanced to 4.4125/4250 against the US dollar, compared to Friday’s close of 4.4170/4220. The US labour market data released Friday showed the Nonfarm...
KUALA LUMPUR: The ringgit strengthened against the US dollar at the close on Tuesday, in line with other regional currencies as market participants awaited the release of the US consumer price index (CPI) report tomorrow. At 6 pm, the local note bounced to 4.3400/3445 versus the greenback from yesterday’s close of 4.3700/3745. Bank Muamalat Malaysia Bhd chief...
KUALA LUMPUR: The ringgit was easier against the US dollar in early trade today ahead of the United States (US) inflation data this week, said an analyst. At 8.07 am, the local note depreciated to 4.3400/3565 versus the greenback from Friday’s close of 4.3275/3330. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the...
KUALA LUMPUR: The ringgit extended last Friday’s loss to end easier against the US dollar on Monday on profit-taking following recent gains amid caution ahead of a US jobs report at the end of this week, an analyst said. At 6 pm, the local currency fell to 4.3550/3600 versus the greenback from last Friday’s close of...
KUALA LUMPUR: The ringgit maintained its upward trajectory against the US dollar today, in line with the local note’s broad-based appreciation against other major currencies, including the euro. At 6 pm, the ringgit surged to 4.3080/3140 against the greenback versus Wednesday’s close of 4.3425/3460. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the...
KUALA LUMPUR: The ringgit ended higher on Wednesday against the US dollar, consistently reaching fresh highs as traders saw an opportunity to accumulate the ringgit, with the anticipated US interest rate cut approaching, an economist said. At 6 pm, the ringgit advanced to 4.3460/3500 against the greenback versus Monday’s close of 4.3470/3505. Bank Muamalat Malaysia Bhd chief...
KUALA LUMPUR: The ringgit reached an 18-month high today, driven by concerns of a potential recession in the United States, said an analyst. At 6 pm, the ringgit strengthened to 4.3805/3850 against the US dollar, marking its best performance since Feb 14, 2023. On Friday (Aug 16), the ringgit closed at 4.4295/4350 against the greenback. Bank Muamalat Malaysia...
KUALA LUMPUR: The ringgit opened lower against the greenback as traders adopted a cautious stance and adjusted their positions due to anticipated pre-announcement volatility ahead of Malaysia’s second quarter (2Q) 2024 gross domestic product (GDP) data today. At 8.02 am, the ringgit depreciated to 4.4515/4720 against the US dollar from yesterday’s close of 4.4350/4405. Bank Muamalat Malaysia...
KUALA LUMPUR: The ringgit ended the day’s trading at about 4.41 against the US dollar, its best close in 16 months, as the US Federal Reserve was seen to be on track to cutting interest rates in September. At 6 pm, the ringgit surged to 4.4170/4235 versus the greenback from yesterday’s close of 4.4440/4505. The local note’s...
