The ringgit opens marginally higher against the US dollar today, recovering from its sharp fall yesterday. – The Malaysian Insight file pic, March 9, 2023.
THE ringgit opened marginally higher against the US dollar today, recovering from its sharp fall yesterday after the US dollar surged due to the likelihood of the United States Federal Reserve raising the interest rate. At 9am, the local note stood at 4.5190/5235 versus the greenback compared with yesterday’s closing rate of 4.5230/5265.
SPI Asset Management managing director Stephen Innes suggested the ringgit might have recovered some lost ground. “But investors will remain extremely cautious regardless of what side of equilibrium the ringgit ends the day,” he told Bernama. – Bernama, March 9, 2023.
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