KUALA LUMPUR: The ringgit opened slightly higher against the US dollar on buying support today after yesterday’s downtrend amid a possible realignment of the country’s political forces and the ongoing COVID-19 outbreak.
At 9 am, the local note was trading at 4.2170/2220 against the greenback from Monday’s close of 4.2240/2270. An analyst said the ringgit improved after Bank Negara Malaysia (BNM) came out with a statement yesterday saying it is closely monitoring conditions in the financial markets, following the latest developments on the country’s political landscape.
"While the ringgit movements will continue to be market-determined, BNM’s market operations will ensure sufficient liquidity and orderly financial market conditions,” said the central bank in a statement.
Get 30% off with our ads free Premium Plan!
