Tag - Mohd Afzanizam Abdul Rashid

Ringgit opens lower amid cautious sentiment

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...

Ringgit closes at strongest level in 16 months after cooler US inflation data

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...

Ringgit pares gains against US$ on profit-taking

KUALA LUMPUR: The ringgit pared last week’s gains to close lower against the US dollar today due to profit-taking, an analyst said. At 6 pm, the ringgit slid to 4.4500/4580 versus the greenback from Friday's close of 4.4200/4280. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the local note is currently in an...

Ringgit rebounds to end firmer vs US dollar

KUALA LUMPUR: The ringgit rebounded to close firmer against the US dollar today, buoyed by a softer greenback amid declines in United States (US) Treasury yields. At 6 pm, the ringgit appreciated to 4.4710/4750 versus the greenback from yesterday's close of 4.4950/5010. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that the...

Ringgit rally continues, rises to 4.42 against US dollar at the close

KUALA LUMPUR: The ringgit extended its bullish momentum from last week to close higher against the US dollar today amid a weakened US Dollar Index (DXY), an analyst said. According to Bloomberg, the ringgit rose the most in nine years amid optimism surrounding Malaysia's economy, rising by 1.57 per cent against the greenback by the close...

Ringgit opens on positive note against US$

KUALA LUMPUR: The ringgit opened on a positive note against the US dollar today on subdued demand for the American dollar due to weaker economic data from the United States (US). At 9.01 am, the ringgit strengthened to 4.7000/7060 versus the greenback from Thursday’s close of 4.7020/7070. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul...

Ringgit opens slightly lower against US$ as Fed leaves rate unchanged

KUALA LUMPUR: The ringgit opened a tad lower against the US dollar today after the US Federal Reserve (Fed) kept its benchmark interest rate unchanged. At 9 am, the ringgit opened at 4.7705/7775 against the greenback from Tuesday’s close of 4.7700/7750. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the Fed’s two-day Federal Open...

Ringgit stages technical rebound to snap 3-day losing streak against US$

KUALA LUMPUR: The ringgit closed firmer against the US dollar on Wednesday as it staged a technical rebound after three days of losses, said an analyst. At 6 pm, the ringgit improved to 4.7910/7950 against the greenback from Tuesday’s closing of 4.7945/7970. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid noted that the local currency...

Ringgit seen remaining soft and trade around RM4.76 against the US dollar this week

KUALA LUMPUR (Bernama): The ringgit is expected to remain soft and trade around RM4.76 against the American dollar next week ahead of talks by US Federal Reserve (Fed) officials on inflation and the US retail sales data. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said a slew of Fed officials are scheduled for...

Ringgit opens lower against US$ amid cautious sentiment

KUALA LUMPUR: The ringgit snapped two consecutive days of gains to open lower against the US dollar on cautious sentiment despite the weaker performance of the greenback. The US Dollar Index (DXY) declined from as high as 106.01 points to 105.82 points despite the US Producer Price Index for September coming in higher than expected. At 9...