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Ringgit opens almost flat against US dollar

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Lack of buying interest impacts the local note's performance. FMTNews Ringgit

KUALA LUMPUR: The ringgit opened almost flat against the US dollar today on lack of fresh buying interest, said a dealer.

AxiCorp Chief Global Market Strategist Stephen Innes said that Bank Negara Malaysia had delivered an excellent message yesterday, not panicking to cut rates too quickly. “But they were dovish enough to keep the policy door ajar for a rate cut later this year, which should continue to attract bond flows,” he told Bernama.

On Thursday, BNM held the overnight policy rate unchanged at 1.75% following a cumulative 125-basis point cut over four straight meetings since January.Meanwhile, the ringgit was traded mostly higher against other major currencies.

 

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Ringgit rises against US dollar at close | Malay MailKUALA LUMPUR, Sept 10 — The ringgit rebounded to end higher against the US dollar on renewed buying interest, said a dealer.  At 6pm, the domestic unit stood at 4.1620/1660 against the greenback from 4.1700/1740 yesterday. Today, Bank Negara Malaysia (BNM) held the overnight policy rate...
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