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KUALA LUMPUR, June 16 — The ringgit opened higher against the United States (US) dollar and a basket of currencies, including Asean currencies today, amid cautious sentiment due to escalating geopolitical risks, said an analyst.At 8 am, the local note rose to 4.2365/2600 versus the greenback from Friday’s close of 4.2435/2480.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the market was affected by the Israel-Iran military conflict over the weekend. “Risks of the conflict expanded in scope which underminded US military bases and assets in the...

Rupee gained 1 paisa to settle at 85.53 (provisional) against the US dollar on Friday, helped by strong foreign institutional investor (FII) inflows and a slight drop in the dollar index. However, the rupee’s rise was limited due to higher Brent crude prices, weak domestic equity markets, and data showing India’s trade deficit widening in April, forex traders said. At the interbank foreign exchange, the rupee started strong at 85.28 and moved between 85.28 and 85.70 during the day. It finally closed at 85.53, up just 1 paisa from Thursday’s...