Afzanizam RashidBank MuamalatBank Negara MalaysiaBusinessLocal Businessmonetary policyOPRRinggitTop BusinessUS dollar
Ringgit nears one-year high ahead of OPR decision
KUALA LUMPUR:
The ringgit opened higher against the US dollar on the first trading day of November, nearing its one-year high, with traders anticipating an unchanged overnight policy rate (OPR) at 2.75%.
At 8am, the ringgit stood at 4.1795/4.2005 against the greenback, compared with last Friday’s close of 4.1860/4.1930.
The level was last seen on Oct 2, 2024, when the local note traded at RM4.1760.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit is expected to maintain positive momentum ahead of the Bank Negara Malaysia’s monetary policy decision on Nov 6.
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