Ringgit Gains Ahead of BNM OPR Decision
The Malaysian ringgit opened higher against the US dollar on Thursday as investors awaited Bank Negara Malaysia's (BNM) Monetary Policy Committee (MPC) decision on the Overnight Policy Rate (OPR).
At 8am, the local currency rose to 4.0385/0455 against the greenback from yesterday's close of 4.0435/0475.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the focus would be on the MPC's OPR decision, with the central bank widely expected to keep the policy rate unchanged at 2.75 per cent.