Focus

Ringgit opens lower vs greenback

02 Aug 2023 10:17am
The ringgit opened lower against the US dollar in early trade today due to the lack of interest.
The ringgit opened lower against the US dollar in early trade today due to the lack of interest.

KUALA LUMPUR - The ringgit opened lower against the US dollar in early trade today due to the lack of interest.

At 9.07 am, the local note decreased to 4.5250/5285 against the greenback compared with 4.5175/5200 at Tuesday’s close.

Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid said that the US Dollar Index (DXY) initially rose to a high of 102.41 before retracting to 102.30 points yesterday.

"Simultaneously, Fitch Rating downgraded the United States government's AAA rating to AA+, citing concerns over weak governance and prolonged debt ceiling negotiations as key factors.

"Despite these developments, the conflicting data presents a mixed signal, as a sovereign rating downgrade typically corresponds to a weaker US currency,” he told Bernama, adding that the MYR/USD may move within a narrow range of RM4.51-RM4.52 today.

Meanwhile, the ringgit was traded mostly higher against a basket of major currencies.

It dropped against the euro to 4.9766/9804 from 4.9584/9612 at Tuesday’s close but firmed against the Japanese yen 3.1623/1650 from 3.1666/1686 yesterday and improved vis-a-vis the British pound to 5.7839/7883 from 5.7892/7924 previously.

At the same time, the local unit was traded mixed against other Asean currencies.

Related Articles:

The ringgit rose versus the Thai baht to 13.1744/1903 from 13.1852/1982 yesterday and was unchanged versus the Philippines’ peso at 8.24/8.25 at the close on Tuesday.

It had also depreciated against the Indonesian rupiah to 299.3/299.7 from 298.8/299.1 yesterday and was lower against the Singapore dollar to 3.3877/3909 from 3.3872/3893 previously. - BERNAMA

ringgit
opening
greenback
More Like This
The suspect wearing a white shirt was brought to court accompanied by several police officers to face charges of injuring a first-year UPNM student recently.
The suspect wearing a white shirt was brought to court accompanied by several police officers to face charges of injuring a first-year UPNM student recently.
National UPNM cadet officer charged with injuring junior, stomping on him with spike boots
He was charged under Section 323 of the Penal Code, which carries a maximum sentence of one-year imprisonment, a fine of up to RM2,000, or both, upon conviction.
The decision to extend the Friday prayer break to two hours for Johor's private sector is expected to enhance worker productivity while maintaining smooth business operations. Illustrative picture.
The decision to extend the Friday prayer break to two hours for Johor's private sector is expected to enhance worker productivity while maintaining smooth business operations. Illustrative picture.
National Two-hour Friday prayer break in Johor seen as a boost to worker productivity
By RAIHAM MOHD SANUSI
22 Nov 2024 09:47am
The move aligns with human nature, where employees who are treated well would be happier and consequently perform better at work.
The victims were pronounced dead at the scene. Small photo (Rusdi)
The victims were pronounced dead at the scene. Small photo (Rusdi)
National Three dead, one-year-old baby survives in Duke highway crash
A one-year-old baby boy survived and has been taken to Selayang Hospital for further treatment.
Johor police chief Datuk M Kumar said the suspects, aged between 25 and 35, were apprehended in the Damansara area near Kuala Lumpur at about 7am yesterday. - File photo
Johor police chief Datuk M Kumar said the suspects, aged between 25 and 35, were apprehended in the Damansara area near Kuala Lumpur at about 7am yesterday. - File photo
National Six arrested after 180km police chase from Johor to KL
'Upon reaching Jalan Chan Sow Lin, the suspects crashed through the road barrier'