KUALA LUMPUR, Nov 12 — The ringgit opened little changed against the US dollar on Thursday as investors assessed the latest US inflation data and its implications for the interest rate outlook.
At 8 am, the local currency stood at 4.0705/0770 against the greenback, compared with 4.0710/0745 at Wednesday’s close.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that hawkish signals from US Federal Reserve (Fed) officials appeared to be the main factor underpinning the greenback.
He said the US Dollar Index rose 0.67 per cent to 102.911 points following the release of October’s Consumer Price Index, which came in above market expectations.
