Ringgit opens slightly higher against US dollar, major currencies
The local note edges up to 4.0800/4.0865 as elevated geopolitical risks continue to favour defensive positioning.
The ringgit opened slightly higher against the US dollar and major currencies on Tuesday. At 8am, it was trading at 4.0800/4.0865 against the US dollar, up from Monday's close of 4.0805/4.0845.
According to Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid, Brent crude oil remained above US$106 per barrel on Monday due to the ongoing US-Iran standoff. This has kept concerns over energy-driven inflation in focus.
The ringgit's slight increase is attributed to elevated geopolitical risks, which continue to favour defensive positioning.
Brief written by urgent.news from Free Malaysia Today, Free Malaysia Today — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
