KUALA LUMPUR, Oct 16 — The ringgit opened flat against the US dollar today as external factors, including expectations of a restrictive US monetary policy, offset support from a weaker greenback.
At 8 am, the ringgit was almost unchanged at 4.0800/0845 against the greenback compared with yesterday’s close of 4.0800/0835.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US dollar Index (DXY) fell 0.53 per cent to 102.005 points, in tandem with a decline in Brent crude oil price to around US$105 per barrel. The decline in the DXY, which measures the greenback against a basket of major currencies, would normally lend support to the ringgit by easing upward pressure on the US dollar.
