Ringgit ends lower as OPR stay unchanged

At the close, the local unit traded lower against a basket of currencies. — Reuters pic
At the close, the local unit traded lower against a basket of currencies. — Reuters pic

, July 11 — The ringgit ended lower against the today after Bank Negara  () left its interest rates unchanged today, a dealer said. 

At 6pm, the local note finished at 4.0370/0420 against the greenback from Tuesday’s 4.0200/0250.

FXTM Global Head of Currency Strategy and Market Research Jameel Ahmad said the impact was seen on the local note’s performance despite the largely expected decision by the BNM’s Monetary Policy Committee to maintain the Overnight Policy Rate at 3.25 per cent.

“The overall seemed positive on the Malaysian economic growth prospects. 

“It is very much true that the local economy is following a positive path, and its currency is showing resilience in comparison to its other emerging peers at a time when global headlines are being dominated by trade war uncertainty,” he said in a note today.

At the close, the local unit traded lower against a basket of currencies.

The ringgit depreciated against the dollar to 2.9651/9699 from 2.9613/9665 and fell against the euro to 4.7237/7312 from 4.7118/7189 on Tuesday.

It declined against the British pound to 5.3466/3552 from 5.3233/3319 and slid versus the yen to 3.6297/6352 from 3.6128/6183 previously. — Bernama

Source: The Malay Mail Online

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