Ringgit higher against dollar after US inflation eases

KUALA LUMPUR – The ringgit opened higher against a weaker US dollar today, following the release of US inflation data, said an analyst. 

At 9am, the local note rose to 4.3995/4035 versus the greenback from yesterday’s closing rate of 4.4065/4120. 

Meanwhile, Bursa Malaysia opened easier today, taking its cue from Wall Street which closed on a low note due to softer US inflation data.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped by 1.07 points to 1,433.67 from yesterday’s close of 1,434.74.

The main index opened 0.87 lower at 1,433.87.

The market breadth was negative as decliners edged past gainers 123 to 114, while 224 counters were unchanged, 1,814 untraded, and 29 others suspended.

Turnover stood at 190.80 million units worth RM61.97 million. – Bernama, April 13, 2023