KUALA LUMPUR, Jan 23 — The ringgit opened higher against the US dollar and other major currencies, buoyed by Bank Negara Malaysia’s (BNM) Monetary Policy Committee’s (MPC) announcement on the Overnight Policy Rate (OPR).
At 8 am, the ringgit stood at 4.4335/4500 against the US dollar compared to yesterday’s closing rate of 4.4340/4400.
The central bank maintained the OPR at 3.0 per cent during its meeting yesterday.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the prevailing monetary policy stance is supportive towards the country’s growth. — Bernama