KUALA LUMPUR: The ringgit staged a rebound on Friday after recent losses to finish the week higher against the American dollar despite a rising greenback buoyed by anticipation of slower US interest rate cuts, an economist said. At 6 pm, the local note rose by 125 basis points to 4.4715/4780 against the greenback compared with yesterday’s...
KUALA LUMPUR: The ringgit opened marginally higher against the US dollar today despite the US Dollar Index’s (DXY) strengthening, which should accelerate demand for the greenback. At 8 am, the local note traded slightly better at 4.4330/4465 against the greenback compared with Tuesday’s close of 4.4365/4400. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid...
KUALA LUMPUR: The ringgit ended firmer against the greenback on Monday ahead of an expected US interest rate cut this week amid the heightened uncertainties over the US presidential election tomorrow, said an economist. At 6 pm, the local note rose to 4.3715/3765 against the greenback from Friday’s close of 4.3780/3835. Bank Muamalat Malaysia Bhd chief economist...
KUALA LUMPUR: The ringgit opened slightly higher against the US dollar today with market sentiment remaining guarded as the world braces for the US presidential election which will be held on Nov 5. At 8.03 am, the local note edged up to 4.3400/3595 against the greenback compared with last Friday’s close of 4.3405/3450. Bank Muamalat Malaysia Bhd...
KUALA LUMPUR: The ringgit is expected to continue appreciating next week, despite traders remaining cautious about key United States economic indicators, said an analyst. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that several important data points to keep an eye on, including the US ISM index for the manufacturing sector,...
KUALA LUMPUR: The ringgit soared to 4.12 against the US dollar on Friday, emerging as one of the top-performing currencies globally. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid highlighted that the ringgit had strengthened by 1.6 per cent week-on-week against the US dollar. The local currency surged to 4.1230/1280 from yesterday’s close of...
KUALA LUMPUR: The ringgit rallied to 4.1275/1310 against the US dollar on Wednesday, marking its strongest level since June 2021. The local currency appreciated by 0.69 per cent compared with Tuesday’s close of 4.1550/1605. Bank Muamalat Malaysia Bhd chief economist, Dr Mohd Afzanizam Abdul Rashid said that the ringgit sustained its strong performance throughout the day, driven...
KUALA LUMPUR: The ringgit closed marginally higher against the US dollar on Monday as a lower domestic inflation rate helped to extend its recent gains, an analyst said. At 6 pm, the local currency climbed to 4.2000/2060 against the greenback, compared to last week's close of 4.2005/2070. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul...
KUALA LUMPUR: Bank Negara Malaysia (BNM) is unlikely to move in direct lockstep with the US Federal Reserve’s (Fed) aggressive move which slashed interest rates by a half-point during its Federal Open Market Committee (FOMC) meeting yesterday. The Fed decided to cut the Fed Funds Rate (FFR) by 50 basis points, bringing it to 4.75 per...
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...
