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Ringgit rebounds vs US dollar amid volatile forex mart (screen)

29 Sep 2022 09:34am
US dollar (top) and Malaysia ringgit (bottom) - 123RF
US dollar (top) and Malaysia ringgit (bottom) - 123RF
KUALA LUMPUR - The ringgit reverses five days of losses to open slightly higher against the US dollar despite a volatile foreign exchange market caused by the United States interest rate hikes and the European energy crisis, a dealer said.

At 9 am, the local currency rose to 4.6250/6290 against the greenback from yesterday’s closing of 4.6285/6310.

ActivTrades trader Dyogenes Rodrigues Diniz cautioned that the US dollar is expected to continue its relentless rise against the ringgit and at the same time, the extreme market volatility could have a ripple effect and bring down the market in a harmful way. - BERNAMA

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