KUALA LUMPUR, Oct 27 — The ringgit closed higher against major currencies, but eased against the US dollar today, amid anticipation of the US Federal Open Market Committee’s (FOMC) policy decision this week, an analyst said.
At 6pm, the ringgit inched down to 4.0865/0900 against the US dollar from yesterday’s close of 4.0855/0895.
Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said Brent crude prices remain elevated at around US$116 (RM474) per barrel, suggesting a fairly visible risk of higher inflation that could affect the FOMC’s monetary policy stance.
“For now, the ringgit has been quite steady despite heightened uncertainties,” he told Bernama.
