KUALA LUMPUR, Jan 22 — The ringgit shrugged off the surprise interest rate cut by Bank Negara Malaysia (BNM) to close higher versus the US dollar today, dealers said. The central bank’s Monetary Policy Committee today reduced the overnight policy rate (OPR) to 2.75 per cent from 3.0 per cent as...
Wednesday, 22 Jan 2020 06:36 PM MYTKUALA LUMPUR, Jan 22 — The ringgit shrugged off the surprise interest rate cut by Bank Negara Malaysia to close higher versus the US dollar today, dealers said.
Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the foreign exchange markets’ expectation of a better economic growth story had helped to support the ringgit to move upwards. “We believe inflation is not an issue given that the government has decided to put on hold the targeted fuel subsidy programme indefinitely,” he told Bernama.
“The ringgit is expected to remain driven by external factors, including market risk sentiment, the US dollar and Chinese yuan performance, as well as the global economic trajectory,” he said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UOB: Ringgit on uptrend rally on positive US-China trade relations | Malay MailKUALA LUMPUR, Jan 21 — The ringgit has continued its rally along with other Asian currencies on the back of positive US-China trade relations, making it the third best performing regional currency to date. United Overseas Bank (UOB) in its global economics and market research macro note today...
Read more »
Ringgit ends lower against US dollar | Malay MailKUALA LUMPUR, Jan 21 — The ringgit closed lower versus the US dollar in line with other emerging Asian currencies, taking cue from the fall of the Chinese yuan and lack of risk appetite, a dealer said. At 6pm, the ringgit was quoted at 4.0710/0740 against the greenback, compared with 4.0580/0620...
Read more »
Health officials confirm first US case of China coronavirus, expand screening | Malay MailWASHINGTON, Jan 22 — A US resident who recently travelled to China has been diagnosed with the newly identified coronavirus that has sickened more than 300 people and killed at least six in China, the US Centers for Disease Control and Prevention (CDC) said yesterday. The US patient is responding...
Read more »
US Senate blocks Democrats' bid for White House documents in Trump impeachment trial | Malay MailWASHINGTON, Jan 22 — The Republican-controlled Senate rejected a Democratic bid to force the White House to produce more documents and evidence yesterday, in a sign the third impeachment trial in US. history could proceed along lines favourable to President Donald Trump. As the impeachment trial...
Read more »
First production 2020 Chevy C8 Corvette auctioned off for US$3m | Malay MailNEW YORK, Jan 21 — At a Barrett-Jackson classic car auction in Scottsdale, Arizona this past Saturday, the first production 2020 Chevy C8 Stingray was bought for US$3 million (RM12.19 million) — more than US$2.9 million over its starting MSRP. During the...
Read more »
Outcry after black US teenager punished for dreadlock length | Malay MailHOUSTON, Jan 22 — A school in Texas has suspended a black teenager for wearing dreadlocks it deemed too long, causing an outcry among activists who said the punishment unfairly targets him due to his race. DeAndre Arnold, 18, had worn his hair in the same style for years, but his high school,...
Read more »