This morning, the Malaysian Ringgit (RM) opened lower against the US dollar in the opening session due to a lack of new catalyst interest.
At 10.30 am, the ringgit remained unchanged at 4.6800 against the US dollar compared to yesterday's close at 4.6775.
Bank Muamalat Malaysia Bhd's Head of Economics and Social Finance, Mohd Afzanizam said that the ringgit will remain stable against the US dollar at around RM4.68 without any indication from the US following the Thanksgiving holiday.
Furthermore, today's focus is on Malaysia's consumer price index (CPI) which is expected to reach 1.9% in October based on consensus.
If the target is reached, this will show that the level has not changed and the inflation rate has stabilized.
At the opening of the session this morning, the ringgit was stronger than the major currencies. The value of the local currency strengthened against the euro at 5.1092, the Japanese yen to 3.1294 and the British pound to 5.8678.
Meanwhile, the ringgit traded mixed compared to other Asean currencies. It traded higher against the Singapore dollar at 3.4917 and the Thai baht at 13.2475.
In addition, the ringgit was seen to depreciate against the Philippine peso at 8.45 and remained unchanged against the Indonesian rupiah at 300.7.
