archiveRinggit vs usd

KUALA LUMPUR, June 23 — The ringgit opened higher against the US dollar and a basket of major currencies on Monday despite a strong US Dollar Index (DXY) as ongoing geopolitical tensions, with the United States’ (US) involvement in the Israel-Iran conflict, in focus, said an analyst.At 8 am, the local note rose to 4.2420/2655 against the greenback from Friday’s close of 4.2505/2565.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said there are fears of a wider conflagration in the region as the US announced “successful” airstrikes...

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...

KUALA LUMPUR, May 27 — The ringgit opened higher against the US dollar today, buoyed by continued weakness in the greenback amid growing concerns over the United States’ (US) fiscal trajectory and trade policy inconsistencies.At 8.05 am, the ringgit rose to 4.2050/2250 against the US dollar compared with Monday’s close of 4.2155/2220.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had extended its downward trend, falling to 98.934 points, as investors grew wary of the direction of US trade policy under President...

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...

KUALA LUMPUR, April 24 — The ringgit closed stronger against the US dollar on weaker greenback demand, amid a decline in investor confidence due to ongoing US-China trade tensions and a lack of progress in negotiations.At 6pm, the local unit stood at 4.3695/3750 against the greenback, improving from Wednesday’s close of 4.3880/3925.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit gained about 0.32 per cent today amid the uncertainties over the US tariff spat with China and other global trading partners.“It seems China has demanded...

KUALA LUMPUR, April 23 — The ringgit ended marginally lower against the US dollar on Wednesday as the greenback strengthened on the back of renewed optimism surrounding US-China trade talks, said an economist.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said this happened following comments from President Donald Trump signalling a possible reduction in tariffs if China is open to negotiation.At 6pm, the local currency eased to 4.3880/3925 against the greenback, compared with Tuesday’s close of 4.3835/3905.He added that while the gesture was positively received by financial...