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Commodities

Ringgit Edges Higher Against US Dollar Amid Easing Oil Prices

Guavy AI Editorial Team
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Oil
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The Malaysian ringgit opened stronger against the US dollar on Wednesday, benefiting from easing Brent crude oil prices and geopolitics. The currency rose to 4.0680/0765 against the greenback from Tuesday's close of 4.0730/0775.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid attributed this positive trend to Brent crude oil hovering below $100 per barrel at $99.25, which is a supportive factor for the foreign exchange market.

A meeting between US and Iranian officials during the UN General Assembly was described as 'very good' by US President Donald Trump, raising hopes for some progress towards a peace deal, although it remains fluid.

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