Ringgit opens lower ahead of tomorrow’s OPR decision

KUALA LUMPUR – The ringgit opened marginally lower against the US dollar today ahead of tomorrow’s overnight policy rate decision by Bank Negara Malaysia’s monetary policy committee.

At 9.06am, the ringgit depreciated to 4.3270/3310 against the greenback from yesterday’s close of 4.3250/3280.

Bursa Malaysia retreated from yesterday’s gains to open lower today, as mild profit-taking emerged in selected heavyweights despite the cautious sentiment in regional markets, dealers said.

At 9.15am, the benchmark FTSE Bursa Malaysia KLCI shed 3.88 points to 1,495.50 from 1,493.56 at yesterday’s close.

The market bellwether opened 4.07 points weaker at 1,495.31.

In the broader market, decliners surpassed gainers 200 to 141, while 283 counters were unchanged, 1,557 untraded, and 10 others suspended.

Turnover amounted to 243.84 million units worth RM148.04 million. – Bernama, January 18, 2023