The Ringgit gains against the US Dollar as Bank Negara Malaysia maintains the OPR at 3%.
The ringgit opened higher against the US dollar and other major currencies, buoyed by Bank Negara Malaysia’s Monetary Policy Committee’s announcement on the Overnight Policy Rate .
“Judging from the BNM statement, it appears that the central bank is not in a hurry to make any adjustment to OPR compared to its counterparts in the Asian region where monetary easing had already begun,” he told Bernama. On that note, he foresees that BNM is likely to keep the OPR steady throughout 2025 and it is expected to improve the value of the ringgit.
Meanwhile, the US Dollar Index inched up to 108.219 points from 108.062 points previously as the market continues to focus on US President Donald Trump’s policy announcement.
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