Business

Ringgit continues to strengthen against US dollar

Bursa Malaysia opens higher on dovish PPI data

Updated 3 years ago · Published on 14 Apr 2023 11:12AM

Ringgit continues to strengthen against US dollar
The ringgit, at 9am, rises to 4.3880/3915 versus the US dollar from yesterday’s closing rate of 4.3995/4025. – File pic, April 14, 2023

KUALA LUMPUR – The ringgit opened higher against the greenback for the third consecutive day as the US dollar had slipped following a surprising decline in the United States’ producer price index in March, said an analyst. 

At 9am, the local note rose to 4.3880/3915 versus the US dollar from yesterday’s closing rate of 4.3995/4025.

The US dollar index, which measures the greenback against six major peers, fell by 0.47% to 101.01 points as the PPI for March dropped to 2.7% from 4.6% in February.

Meanwhile, Bursa Malaysia opened higher today, taking its cue from the positive Wall Street performance due to the dovish US Producer Price Index data.

At 9.05am, the FTSE Bursa Malaysia KLCI rose by 2.53 points to 1,436.75 from yesterday’s close of 1,434.22.

The main index opened 0.62 higher at 1,434.84.

Market breadth was positive as gainers surpassed decliners at 167 versus 92, while 233 counters were unchanged, 1,773 untraded and 19 others suspended.

Turnover stood at 222.99 million units worth RM77.74 million. – Bernama, April 14, 2023

Related News

Business / 5mth

Ringgit edges higher against US Dollar amid subdued market sentiment

Business / 6mth

Ringgit retreats to 4.00 versus the US Dollar amid West Asia ceasefire uncertainties

Business / 7mth

BNM ensures orderly financial markets amid global uncertainties

Malaysia / 7mth

Middle East conflict: Brace for more expensive imports - Tengku Zafrul

Malaysia / 7mth

Two factors contributed to lower EPF dividends this year – CEO

Places / 10mth

Planning a year-end break? The Land of the Rising Sun beckons

Spotlight

Malaysia

Haze: Schools in Johor, Melaka, and Negeri Sembilan to close tomorrow

Malaysia

Tun Mahathir’s health improves, but not ready to leave hospital

Malaysia

LPT3 row puts Kelantan’s infrastructure priorities under scrutiny

Malaysia

Terengganu royal family member sues two banks over RM1.99m missing from savings

Malaysia

Irene Sofiya murder probe referred to Johor prosecutors for review

Malaysia

Teacher denies negligence charges over fatal school SUV crash in Kota Bharu

Malaysia

Sulaiman Md Ali opts out of Melaka polls, will not defend Lendu

You may be interested

Business

Oil prices retreat below US$104 as markets weigh Middle East risks

Business

Oil prices stay above US$93 as Middle East tensions put pressure on ringgit

Business

SC targets stronger board oversight through higher standards for company secretaries