KUALA LUMPUR, Sep 6: The Ringgit opened lower against the US Dollar morning of September 6, ahead of the Bank Negara Malaysia (BNM) policy meeting on September 7, which will determine the country’s interest rate direction.
At 9 am, ringgit was quoted at 4.0725/0775 against the US Dollar from 4.0670/0710 on Monday’s closing, as reported by BERNAMA.
BNM had unexpectedly reduced the Overnight Policy Rate (OPR) by 25 base points to 3% during the previous Monetary Policy Committee meeting due to the potential risk from Brexit.
Meanwhile, ringgit was traded diversely against several major currencies.
It strengthened against the Euro to 4.5376/5448 from 4.5404/5465 on Monday and against the British Pound to 5.4176/4272 from 5.4181/4258.
It also strengthened against the Yen to 3.9280/9339 from 3.9417/9459 but weakened against the Singapore Dollar to 2.9998/3.0039 from 2.9959/0009.
Ringgit lower at 4.0725/0775 against US Dollar
