KUALA LUMPUR – The ringgit opened higher against the US dollar and other major currencies this morning, in anticipation of Bank Negara Malaysia’s decision on the overnight policy rate (OPR).
At 9am, the local unit rose to 4.6445/6515 versus the greenback compared to 4.6480/6525 at yesterday’s close.
The two-day monetary policy committee (MPC) meeting kicks off today, and the central bank is expected to maintain the OPR at 3.0%, said an analyst.
Meanwhile, Bursa Malaysia opened marginally higher today ahead of the MPC meeting.
At 9.21am, the FTSE Bursa Malaysia KLCI was 0.81 points higher at 1,393.30 compared to 1,392.49 at yesterday’s close.
The key index opened 0.11 of-a-point lower at 1,392.38.
The broader market was positive with advancers beating decliners 192 to 164, while 249 counters were unchanged, 1,630 untraded, and 18 others suspended.
Turnover stood at 327.70 million units worth RM129.37 million. – Bernama, July 5, 2023
