KUALA LUMPUR – The ringgit opened marginally higher against the US dollar today, as the greenback retreated on concerns about the latest coronavirus variant and the possibility of travel control being imposed by several countries.
At 9am, the local note rose to 4.2350/2395 against the greenback from 4.2370/2400 at Friday’s close.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said while there appeared to be anxiety over the new variant of concern, the selling of the ringgit could be seen as somewhat overdone.
Bursa Malaysia also opened the week on a lower note as worries of the new variant clouded buying sentiment, analysts said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI dropped 8.81 points to 1,503.41 from 1,512.22 at Friday’s close.
The index opened 4.43 points weaker at 1,507.79.
Losers thumped gainers 589 to 80, while 188 counters were unchanged, 1,455 untraded and 78 others suspended.
Total volume stood at 401.14 million units worth RM263.24 million. – Bernama, November 29, 2021
