KUALA LUMPUR, Nov 2 — The ringgit opened higher against the US dollar and major currencies today, supported by expectations of a possible overnight policy rate (OPR) normalisation ahead of Bank Negara Malaysia’s Monetary Policy Committee (MPC) meeting this Thursday.

At 8 am, the local note was slightly higher at 4.0550/0635 against the greenback from last Friday’s close of 4.0555/0600.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid opined that the MPC members would decide to raise the OPR by 25 basis points (bps).

He said the pre-emptive rate cut in July 2025, which lowered the OPR from three per cent to 2.75 per cent, had served its purpose, as concerns over slower economic growth following the tariff shock had not materialised.