Ringgit opens flat vs US dollar, firmer against other currencies

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KUALA LUMPUR: The ringgit opened almost flat against the US dollar today ahead of Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) decision on Thursday, an analyst said.

At 9 am, the local note stood at 4.6450/6525 against the US dollar from 4.6445/6485 at Friday’s close.

Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid said market players are awaiting Reserve Bank of Australia (RBA), Bank of Canada (BoC) as well as BNM’s policy rate decisions; most of them expecting rates to remain status quo.

“Therefore, the divergence in the global monetary policy with the United States Federal Reserve may seem to give the US dollar an upper hand,” he told Bernama.

On that note, he expects the USD/MYR to range between RM4.64 and RM4.66 today.

Meanwhile, the ringgit opened higher against a basket of major currencies.

The local note increased versus the euro to 5.0068/0149 from 5.0388/0432 at Friday’s close, rose against the British pound to 5.8508/8603 from 5.8878/8929 last week and appreciated against the Japanese yen to 3.1778/1832 from 3.1939/1968 previously.

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At the same time, the ringgit was traded mostly higher against other Asean currencies.

It was better against the Singapore dollar at 3.4306/4366 from 3.4386/4418 at the close last Friday, gained vis-a-vis the Thai baht to 13.2261/2531 from 13.2677/2852 last week and was firmer against the Philippines’ peso at 8.20/8.21 from 8.21/8.22.

However, it was almost flat against the Indonesian rupiah at 304.7/305.3 from 304.6/305.1 previously.

Foreign exchange rates

Following are the opening Malaysian foreign exchange for major currencies today:

1 USD              4.6450/6525
100 yen            3.1778/1832
1 pound            5.8508/8603
1 euro               5.0068/0149
1 SGD              3.4306/4366
100 baht           13.2261/2531
1 mln rupiah     304.7/305.3
100 pesos         8.20/8.21

Exchange rates issued by Malayan Banking Bhd today

 SELLING TT/ODBUYING TTBUYING OD
 1 US Dollar4.71604.58204.5680
 1 Australian Dollar3.06502.94402.9250
 1 Brunei Dollar3.48303.38403.3690
 1 Canadian Dollar3.46803.37603.3710
 1 Euro5.09304.92804.9180
 1 New Zealand Dollar2.81702.71302.6950
 1 Papua N Guinea KinaN/AN/AN/A
 1 Singapore Dollar3.48303.38403.3690
 1 Sterling Pound5.95105.76605.7760
 1 Swiss Franc5.31505.19305.1900
 100 UAE Dirham129.9700123.2600122.6000
 100 Bangladesh Taka4.38104.09503.8990
 100 Chinese Renminbi65.100062.6000N/A
 100 Danish Krone70.040064.460064.3900
 100 Hongkong Dollar60.780057.770057.3800
 100 Indian Rupee5.80005.45005.2300
 100 Indonesian Rupiah0.03200.02900.0239
 100 Japanese Yen3.23403.13203.1330
 100 New Taiwan Dollar15.9000N/AN/A
 100 Norwegian Krone45.420041.770041.5400
 100 Pakistan Rupee1.57001.47001.2700
 100 Philippine Peso8.47007.98007.7400
 100 Qatar Riyal130.8800124.2400123.5800
 100 Saudi Riyal127.2200120.7700120.1100
 100 South Africa Rand25.970023.460023.1300
 100 Sri Lanka Rupee1.52001.40001.1900
 100 Swedish Krona44.110040.180040.1000
 100 Thai Baht14.030012.450012.0400

Gold down

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The physical price of gold as at 9.30 am stood at RM280.61 per gramme, up 17 sen from RM280.44 at 5 pm last Friday. – BERNAMA

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