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KUALA LUMPUR – The ringgit opened lower against the US dollar today, as the greenback continued to strengthen amid the uncertainties over energy security in Europe, an analyst said.
At 9.00am, the local currency was trading at 4.2320/2370 against the greenback from 4.2220/2255 at yesterday’s close.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the concern arose when the Russian government demanded that settlement for gas transaction will be settled in its currencies.
Meanwhile, Bursa Malaysia opened lower today as mild profit-taking emerged, after the barometer index closed 0.76% higher yesterday and investors may stay cautious in an anticipation of the development of geopolitical tensions.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI fell 1.68 points to 1,596.20 from 1,597.88 at yesterday’s close.
The barometer index opened 2.03 points easier at 1,595.85.
On the broader market, losers were ahead of gainers at 194 to 135, while 195 counters were unchanged, 1,778 untraded and 12 others suspended.
Total turnover stood at 178.28 million worth RM84.12 million. – Bernama, March 24, 2022