KUALA LUMPUR – The ringgit slipped to a fresh all-time low against the US dollar at opening today, breaching the 4.5600 level due to lower oil prices, coupled with the strengthening of the greenback, a dealer said.
At 9am, the local currency slid to 4.5640/5680 against the greenback from 4.5585/5595 at yesterday’s close.
ActivTrades trader, Dyogenes Rodrigues Diniz, said the US dollar remained bullish in anticipation of the interest rate decision by the US Federal Open Market Committee later today.
Meanwhile, Bursa Malaysia opened lower today due to profit-taking following its positive performance yesterday, while tracking Wall Street’s lacklustre performance overnight at the same time.
A dealer said investors remain cautious ahead of the US Federal Reserve’s interest rate decision later today.
At 9.06am, the benchmark FTSE Bursa Malaysia KLCI fell by 7.02 points to 1,454.08 from yesterday’s close of 1,461.10.
The benchmark index opened 1.65 points lower at 1,459.45.
On the broader market, losers led gainers 184 to 79, while 191 counters were unchanged, 1,936 untraded and nine others suspended.
Turnover stood at 113.54 million units worth RM47.52 million. – Bernama, September 21, 2022
