THE ringgit opened nearly flat towards the US greenback in the present day forward of Financial institution Negara Malaysia’s (BNM) in a single day coverage price (OPR) determination on Thursday, an analyst stated.
At 9 am, the native be aware stood at 4.6450/6525 towards the US greenback from 4.6445/6485 at Friday’s shut.
Financial institution Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid stated market gamers are awaiting Reserve Financial institution of Australia (RBA), Financial institution of Canada (BoC) in addition to BNM’s coverage price selections; most of them anticipating charges to stay establishment.
“Due to this fact, the divergence within the world financial coverage with the USA Federal Reserve could seem to present the US greenback an higher hand,” he informed Bernama.
On that be aware, he expects the USD/MYR to vary between RM4.64 and RM4.66 in the present day.
In the meantime, the ringgit opened larger towards a basket of main currencies.
The native be aware elevated versus the euro to five.0068/0149 from 5.0388/0432 at Friday’s shut, rose towards the British pound to five.8508/8603 from 5.8878/8929 final week and appreciated towards the Japanese yen to three.1778/1832 from 3.1939/1968 beforehand.
On the similar time, the ringgit was traded largely larger towards different Asean currencies.
It was higher towards the Singapore greenback at 3.4306/4366 from 3.4386/4418 on the shut final Friday, gained vis-a-vis the Thai baht to 13.2261/2531 from 13.2677/2852 final week and was firmer towards the Philippines’ peso at 8.20/8.21 from 8.21/8.22.
Nevertheless, it was nearly flat towards the Indonesian rupiah at 304.7/305.3 from 304.6/305.1 beforehand. — BERNAMA