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
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