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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 weakened by 10 paise to close at 85.48 (provisional) against the US dollar on Thursday, pressured by a strengthening dollar overseas and a rise in global crude oil prices. Forex traders noted that gains in the domestic equity markets and foreign capital inflows helped limit the local currency's fall. At the interbank foreign exchange market, the rupee opened at 85.56 and traded between an intra-day low of 85.62 and a high of 85.40 before settling at 85.48, marking a 10 paise decline from Wednesday’s close of 85.38. Anuj...

Rupee depreciated by 37 paise to close at 85.96 (provisional) against the US dollar on Thursday, pressured by strong dollar demand from importers and foreign banks, along with a surge in crude oil prices. Forex traders highlighted that surging US bond yields are unsettling global investors. "Moreover, the narrowing yield differential between India and the US is making Indian assets less attractive," they noted. Elevated crude oil prices, driven by rising geopolitical tensions in the Middle East, further dampened investor sentiment. At the interbank foreign exchange market, the rupee opened...

KUALA LUMPUR, May 19 — The ringgit opened higher today against the US dollar buoyed by Moody’s Ratings recent downgrade of the US credit rating on concerns over rising debt.At 8.03 am, the local note appreciated to 4.2850/3140 versus the greenback from last Friday’s close of 4.2900/2980.Moody’s Ratings has downgraded the US sovereign rating by one notch to Aa1 from AAA last Friday. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the main premise for such a move was the US government debt which would likely...

Rupee pared its initial gains and ended the day lower by 7 paise at 85.40 against the US dollar on Friday, due to heightened geopolitical tensions and a negative trend in domestic markets. Forex traders attributed the rupee's decline to escalating geopolitical tensions, particularly following a terrorist attack in Pahalgam, Jammu & Kashmir, which weighed on market sentiment. Additionally, a muted trend ia stronger US dollar inden domestic equities and x further dampened investor confidence. At the interbank foreign exchange market, the rupee opened at 85.17 and fluctuated between an...

Rupee traded in a narrow band and slipped 4 paise to 85.19 against the US dollar in early trade on Tuesday, as gains from upbeat domestic equities were offset by dollar short-covering among investors. Forex analysts noted ongoing concerns about global economic headwinds stemming from tariffs and US monetary policy, which could dampen overall demand. At the interbank foreign exchange market, the rupee opened at 85.11 and later declined to 85.19 against the US dollar, marking a 4 paise drop from its previous close. On Monday, the rupee had gained...