KUALA LUMPUR, May 16 ― The ringgit bounced to 4.6800 versus the greenback at the opening today, a level last seen two months ago, as lower-than-expected US inflation data...
Comms minister says Malaysia has no relations with Hamas’ military wing, slams Meta for removing news reports of PM Anwar’s meeting with Palestinian politiciansAt 9 am, the ringgit strengthened to 4.6800/6850 against the greenback from yesterday’s closing of 4.7050/7075. — Picture by Sayuti ZainudinKUALA LUMPUR, May 16 ― The ringgit bounced to 4.
At 9am, the ringgit strengthened to 4.6800/6850 against the greenback from Wednesday’s closing of 4.7050/7075. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the local note could linger at around the RM4.67 to RM4.68 level.“The ringgit is likely to perform well today as the US inflation rate is on track to go lower, with the latest print showing it decelerated to 3.4 per cent in April year on year from 3.5 per cent in March. The forex market is likely to be constructive as rate hike chances are slim and there is good progress on US inflation,” he added.
It improved vis-a-vis the Indonesian rupiah to 291.9/292.4 from 293.5/293.8 previously and gained against the Philippine peso to 8.16/8.17 from 8.17/8.19. ― Bernama
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