Ringgit closes higher against US dollar on improved risk appetite, Budget 2027 boost
KUALA LUMPUR, Oct 14 — The ringgit closed higher against the greenback today as investors’ risk appetite imp...
The Malaysian ringgit closed higher against the US dollar on October 14, 2023, as investors' risk appetite improved ahead of US inflation data, according to a report by Bernama. The ringgit rose to 4.0805/0850 against the greenback from yesterday's close of 4.0835/0880. The Bank Muamalat Malaysia Bhd chief economist, Dr Mohd Afzanizam Abdul Rashid, attributed the market sentiment to the upcoming US Consumer Price Index (CPI) data, which is expected to shape the Federal Open Market Committee's (FOMC) decision later in the month.
The US inflation rate is projected to accelerate to 3.6 percent in September, according to consensus estimates.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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