Ringgit opens higher vs US dollar, revisits RM4.19 level

The ringgit revisited the RM4.19 level against the US dollar today, with immediate support expected at RM4.07, driven by Malaysia’s lower-than-forecasted consumer price index (CPI) increase of 1.9 percent and a 50 basis point interest rate cut by the US Federal Reserve.

At 8am, the local note traded at 4.1995/2055 versus the greenback from Monday’s close of 4.2000/2060.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said...