KUALA LUMPUR: The ringgit retreated to open slightly lower against the US dollar today, but is expected to remain steady as the greenback continues its downside.
At 9am, the local currency stood at 4.0850/0880 against the greenback compared with Wednesday’s close of 4.0835/0890. Mohd Afzanizam said talks of the discovery of the Covid-19 vaccine alongside the possibility of the Organisation of the Petroleum Exporting Countries delaying its plan to increase their production next year have also fuelled hope that the global economic recovery will be sustainable next year.
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