KUALA LUMPUR: The ringgit opened almost flat against the US dollar today ahead of Bank Negara Malaysia’s overnight policy rate decision on Thursday, an analyst said.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said market players are awaiting respective policy rate decisions by the Reserve Bank of Australia, Bank of Canada and BNM.“Therefore, the divergence in the global monetary policy with the Federal Reserve may seem to give the US dollar an upper hand,” he told Bernama.At 9am, the local note stood at 4.6450/4.6525 against the US dollar from 4.6445/4.6485 at Friday’s close.The local note increased versus the euro to 5.0068/5.0149 from 5.
However, it was almost flat against the Indonesian rupiah at 304.7/305.3 from 304.6/305.1 previously.
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