Head Topics

Ringgit rebounds to open higher against the US dollar

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 72%

Malaysia Headlines News

Malaysia Latest News,Malaysia Headlines

However, the currency market sentiment remains cautious following the Conditional Movement Control Order extension. FMTNews Ringgit Currency

KUALA LUMPUR: The ringgit rebounded to open slightly higher against the US dollar today on renewed demand as the oil price rose, said a dealer.

At 9.05am, the local currency stood at 4.1620/1670 versus the greenback, compared with 4.1630/1670 at yesterday’s close. The dealer said the ringgit has improved as uncertainty over the local political scenario has abated.However, the dealer said the currency market sentiment remains cautious following the government’s decision to extend the Conditional Movement Control Order for another two weeks until Nov 9 in Selangor, Kuala Lumpur and Putrajaya.

She said the number of new Covid-19 cases stoked fears of an increase in the unemployment rate, as well as weaker consumer purchasing power. Nevertheless, AmBank Research expects that the ringgit to trade between its support levels of between 4.1557 and 4.1610, while resistance is pinned at between 4.1705 and 4.1750.It fell against the Singapore dollar to 3.0614/0662 from yesterday’s close of 3.0604/0644, decreased against the yen to 3.9718/9769 from 3.9689/9739 and slipped versus the euro to 4.9195/9266 from 4.9157/9221.Subscribe to our newsletter and get news delivered to your mailbox.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ringgit opens lower against US dollarThere is a lack of buying interest despite the greenback weakening. FMTNews Money Ringgit
Source: fmtoday - 🏆 5. / 72 Read more »

Ringgit opens lower against US dollarKUALA LUMPUR: The ringgit opened easier against the US dollar today on lack of buying interest, despite the greenback weakening due to improved risk a...
Source: theSundaily - 🏆 25. / 51 Read more »

Ringgit extends weakness against US dollar at closeKUALA LUMPUR: The Ringgit extended last Friday’s weakness to end lower against the US dollar amidst weaker oil prices, uncertain local political scena...
Source: theSundaily - 🏆 25. / 51 Read more »

Ringgit opens lower against US dollar | Malay MailKUALA LUMPUR, Oct 26 — The ringgit opened easier against the US dollar today on lack of buying interest, despite the greenback weakening due to improved risk appetite, said a dealer. At 9.05am, the local currency stood at 4.1550/1600 versus the greenback compared with...
Source: malaymail - 🏆 1. / 86 Read more »

US announces US$2.4 bil sale of coastal defence systems to TaiwanThe missiles, manufactured by Boeing, can be positioned on fixed platforms or mounted on trucks. FMTNews US Military Taiwan
Source: fmtoday - 🏆 5. / 72 Read more »

‘Satan-worshiping pedophiles’ conspiracy buffs on path to US CongressAbout 40% Republicans believe that at least parts of the QAnon conspiracy are true.
Source: malaysiakini - 🏆 20. / 51 Read more »