The ringgit strengthened against the US dollar at the opening today, supported by expectations that Bank Negara Malaysia (BNM) will maintain the overnight policy rate (OPR) at 3.00 percent due to higher inflation in May 2024.
This follows a trend of central banks worldwide beginning to lower their interest rates, a dealer said.
At 9am, the ringgit was trading at 4.7065/7095 against the greenback, compared to Tuesday’s close of 4.7035/7070.
