Ringgit strengthens v dollar
THE ringgit rose against the US dollar in the early session today following the positive developments on the US debt limit negotiations.
At 9am, the local note rose to 4.6070/6110 versus the greenback from yesterday’s closing of 4.6105/6155. However, Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid said cautious sentiments may prevail in the foreign exchange market today, adding that the US dollar/ringgit pair should stay around RM4.60-RM4.61.It went down to 3.3099/3130 against the Japanese yen from 3.2951/2989 at yesterday’s closing, declined against the euro to 4.9230/9273 from 4.9208/9261 previously and depreciated versus the British pound to 5.7302/7352 from 5.6986/7048 yesterday.
It was almost flat against the Indonesian rupiah at 307.1/307.6 from 307.4/307.9 yesterday and slightly higher against the Philippine peso to 8.19/8.21 from 8.20/8.22 previously. – Bernama, June 1, 2023.
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