KUALA LUMPUR: The ringgit opened higher against the US dollar on Thursday, supported by the possibility of overnight policy rate (OPR) normalisation at Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) meeting next week.
At 8am, the ringgit rose to 4.0720/4.0800 against the US dollar from Wednesday’s close of 4.0745/4.0790.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the unchanged OPR at 2.75% could provide support for the local currency.
Meanwhile, he said the US dollar index (DXY) is currently down by 0.19% to 102.127 points as Federal Open Market Committee members left the benchmark interest rate unchanged at 3.75% to four per cent.
