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Forex

Ringgit Swings Amid Geopolitical Tensions

Guavy AI Editorial Team
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USD
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The ringgit opened mostly higher against major currencies on September 28 but slightly lower against the US dollar due to geopolitical uncertainties.

According to Dr. Mohd Afzanizam, chief economist at Bank Muamalat Malaysia Bhd, the ongoing geopolitical tensions will continue to shape market sentiment.

The rejection of Iran's plan to reopen the Strait of Hormuz by United States President Donald Trump has added to the uncertainty, with traders waiting for further developments on the issue.

The ringgit was traded at 4.0725/0780 against the greenback, down from Friday's close of 4.0715/0765.

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