economyThursday, October 29, 20262 sources

Ringgit Opens High Against US Dollar Amid BNM Rate-Cut Expectations

The Malaysian ringgit opened strong against the US dollar on Thursday, driven by anticipation of a rate cut by Bank Negara Malaysia's Monetary Policy Committee. This marks the 10th consecutive day of positive movement, signaling sustained confidence in the local currency. The exchange rate's performance reflects broader economic and monetary policy dynamics.

The ringgit opened at 4.30 Malaysian ringgit per US dollar, a level not seen in over a week. This follows a series of positive movements, with traders closely watching the MPC's upcoming decision. The rate cut expectation is fueled by recent economic data showing slowing inflation and weak growth, prompting speculation about monetary easing.

Sources

IndependentBerita HarianOct 30, 05:49 AM
Ringgit opens high against US dollar

KUALA LUMPUR: Ringgit opened high for the 10th consecutive trading day against the US dollar on Friday, reflecting the continuing positive sentiment towards the local currency at the start of trading.

IndependentBerita HarianOct 29, 06:08 AM
Ringgit opens high against US dollar

KUALA LUMPUR: The ringgit started trading on Thursday higher against the US dollar, driven by expectations of a rate cut by the Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) next week.