: The ringgit opened marginally higher against the US dollar in cautious mode ahead of the US Federal Reserve meeting later this week, an economist said.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit is expected to stay soft versus the greenback this week as markets await the outcome of the US Federal Open Market Committee meeting on September 19-20 that will decide on interest rates. He said consensus estimates pointed to the Fed funds rate staying put at 5.50 per cent for this meeting.
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