Ringgit opens slightly higher against US dollar despite political uncertainty

KUALA LUMPUR – The ringgit opened marginally against the US dollar on renewed buying interest despite China’s further Covid-19 restrictions as well as uncertainty following the hung Parliament and government formation in Malaysia, said an analyst.

At 9am, the local note rose to 4.5745/5830 against the greenback from yesterday’s close of 4.5770/5850.

Meanwhile, Bursa Malaysia was slightly higher in early trade today as bargain hunting emerged following yesterday’s sell-offs due to cautious market sentiment.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI gained 1.34 points to 1,449.3 from 1,447.96 yesterday.

The market bellwether opened 1.24 points easier at 1,446.72. – Bernama, November 22, 2022