This article is 22 days old
Ringgit opens higher vs US dollar, revisits RM4.19 level
The ringgit revisited the RM4.19 level against the US dollar today, with immediate support expected at RM4.07, driven by Malaysia’s lower-than-forecasted consumer price index (CPI) increase of 1.9 percent and a 50 basis point interest rate cut by the US Federal Reserve.
At 8am, the local note traded at 4.1995/2055 versus the greenback from Monday’s close of 4.2000/2060.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said...
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