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KUALA LUMPUR: The ringgit opened lower against the US dollar today as investors remained in favour of the safe haven currency amid a cautious global economic outlook, an economist said.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors are still holding on to the US dollar with the US Dollar Index staying above 105 points as other major central banks have begun cutting their policy rates while the US Federal Reserve appeared reluctant to follow suit.
Nevertheless, Afzanizam noted that the ringgit performed favourably against other regional currencies recently.
Ringgit US Dollar Bank Muamalat Afzanizam Abdul Rashid DXY
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