KUALA LUMPUR: The ringgit opened slightly higher against the US dollar and other major currencies on the rising expectation that the US Federal Reserv...
: The ringgit opened slightly higher against the US dollar and other major currencies on the rising expectation that the US Federal Reserve would not raise interest rates when it meets next week.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US Federal Reserve will release its quarterly forecasts after the meeting on Sept 19-20. He reckons that the ringgit will continue to hover in the range of RM4.66 to RM4.68 to the greenback.It rose against the British pound to 5.8414/8477 from 5.8551/8595 at Monday’s close and climbed against the Japanese yen to 3.1852/1888 from 3.1855/1881.The local note also traded mostly firmer against other Asean currencies.