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Ringgit opens firmer on OPR hold expectations

Cover Image for Ringgit opens firmer on OPR hold expectations

The local note rises to 4.0350/4.0570 as the market prices in bets that the rate remains unchanged at 2.75%.

KUALA LUMPUR: The ringgit opened higher against the US dollar on Thursday, as the market priced in expectations that Bank Negara Malaysia would keep the overnight policy rate (OPR) unchanged at 2.75% at its policy meeting later in the day, offsetting a firmer tone in the greenback.

At 8am, the local currency strengthened to 4.0350/4.0570 against the US dollar, compared with Wednesday’s close of 4.0445/4.0495.

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Tags:Bank Negara MalaysiaOPRRinggit

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