At 9 am, the local note fell to 4.1870/1910 from 4.1835/1850 at Tuesday’s close.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the heightened uncertainties have led to a sudden surge in interest in safe-haven currencies.
"However, vaccination rates are rapidly increasing and the reopening of the economy is occurring globally.
"This necessitates the US Fed to withdraw some -- if not all -- of the monetary stimulus to reflect the current state of the economy,”Read More »
At 9 am, the local note climbed to 4.1885/1925 from 4.1905/1950 at Monday’s close.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the possibility of the tapering of asset purchases by the US Fed this week may also raise the appeal of the greenback and hence was likely to weaken the ringgit.
"At the same time, news on the potential defaults in one of the main property players in China has stoked concern over the financial stability in the second largest global economic powerhouse,” he told Bernama.
As such, he said the nRead More »
At 9 am, the local note slipped by 135 basis points (bps) to 4.1835/1885 from 4.1700/1730 at last Friday’s close.
Furthermore, Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the focus would be on the US Fed’s asset purchases programme to see whether the US Fed would announce plans to reduce the size of its monthly purchases which currently stands at US$120 billion.
"On top of that, the market would be watching the latest economic projection by the US Fed to see whether there are any upgrades in its assessmRead More »
At 9.02 am, the ringgit declined 160 basis points (bps) to 4.1730/1780 from 4.1570/1590 at Wednesday’s close.
The local market was closed yesterday for the Malaysia Day celebration.
ActivTrades trader Dyogenes Rodrigues Diniz said both the United States (US) core retail sales and jobless claims data for August 2021 had surprised the market and hence continued to lift the greenback’s performance.
"This has great potential to cause the US dollar to appreciate over the next few days, as high consumer spending coulRead More »
Monday, 5 December 2016 KUALA LUMPUR: The ringgit opened higher against the US dollar Monday on better demand following Bank Negara Malaysia’s (BNM) new measures, effective Monday, to encourage more domestic trade of the ringgit. At 9.05 am(0105 gmt), the local unit strengthened to 4.4470/4500 against the greenback from the …Read More »
Monday, 28 November 2016 KUALA LUMPUR: The ringgit traded slightly higher against the US dollar early Monday on improved buying interest and despite a decline in global crude oil prices. At 9am, the local unit improved against the greenback at 4.4550/4600 from 4.4580/4700 on last Friday. Global crude oil prices …Read More »
Wednesday, 2 November 2016 KUALA LUMPUR: The ringgit opened lower against the US dollar and a basket of major currencies today on the back of lower crude oil prices, dealers said. At 9 am, the ringgit was quoted at 4.1850/1930 against the greenback from 4.1790/1840 on Tuesday. Brent …Read More »
Monday, 31 October 2016 KUALA LUMPUR: The ringgit opened lower against the US dollar in early trading on Monday on a lack of demand and lower oil prices. At 9am, the ringgit was quoted at 4.2050/2110 against the greenback from the 4.1970/1020 last Friday. The lower oil prices are reportedly …Read More »
Thursday, 27 October 2016 PETALING JAYA: The ringgit continues to strengthen against the US dollar, alongside several other Asian currencies, as US policymakers continue to play down the possibility of an interest rate hike so close to the US presidential election. Globally, stock markets slipped as crude oil prices …Read More »
Tuesday, 25 October 2016 KUALA LUMPUR: The ringgit opened marginally lower against the US dollar Tuesday. At 9.22 am(0122gmt), the local unit was quoted at 4.1760/1810 against the greenback from Monday’s close of 4.1750/1800. The US dollar strengthened on growing expectations of an interest rate hike by the Federal …Read More »