The ringgit was quoted at 4.1575 against the US dollar, the strongest since Oct 7
KUALA LUMPUR: The ringgit opened higher against the US dollar on Thursday on the back of Bank Negara Malaysia's (BNM) decision to maintain the Overnight Policy Rate at 3%.
At 9am, the ringgit was higher at 4.0520/0570 from 4.0550/0610 on Wednesday.
MIDF Amanah Investment Bank Bhd chief economist Dr Kamarudin Mohd Nor said the ringgit is currently quite weak and it could be why BNM held back from another rate cut.
He was responding to the outcome of the BNM Monetary Policy Committee meeting held on Wednesday.
Meanwhile, the local note traded mostly higher against a basket of major currencies.
The ringgit rose against the Singapore dollar to 3.0095/0146 from 3.0106/0162 yesterday, but fell against the euro to 4.5573/5645 from 4.5570/5646.
It strengthened against the yen to 3.9854/9923 from 3.9923/9986, but rose against the British pound to 5.4102/4173 from 5.4175/4271. - Bernama
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